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IHT403 outgoings
pysifr
Posts: 26
Forumite
in Cutting tax
This form has separate cells for Travel & Holidays - what is the difference? If I have a holiday anywhere (except at home), I will have travel costs, be it petrol for driving, train fares, air fares? I also go on a lot of self-catering holidays - is the cost of food on such a holiday a "holiday cost" or is this a "household cost", since I would have to eat anyway, even if I stayed at home?
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Comments
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I would lump everything involved in taking a holiday, except fuelling the car, in the holiday row. Travel costs cover things like traveling to work or visiting family and friends. I would also lump in all fuel costs with travelling costs as it keeps things simple.Don’t get too hung up about what row to use, some things could fit in two places (eg. Charging an EV at home) but as long as as they are included somewhere it should be fine.0
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the point being the form is to evidence your lifestyle
there are certain categories where HMRC would expect someone claiming they have excess income to have nonetheless undertaken "normal" activities such as going on holiday
whilst I agree the bottom line total is the most important, HMRC are seeking to compare your declared expenditure against what others do in terms of what is "average" and "complete"0
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