Domain Manage

Can you run a car with a domain business? (tax man)

Discussion in 'General Board' started by mally, Mar 15, 2008.

Thread Status:
Not open for further replies.
  1. mally United Kingdom

    mally Well-Known Member

    Joined:
    Mar 2006
    Posts:
    2,244
    Likes Received:
    17
    Hello

    Just wondering if any of you guys run car's when running an internet business.

    As in offsetting the costs against your tax?

    Mally
     
  2. Domain Forum

    Acorn Domains Elite Member

    Joined:
    1999
    Messages:
    Many
    Likes Received:
    Lots
     
  3. Johnp United Kingdom

    Johnp Active Member

    Joined:
    Jul 2006
    Posts:
    429
    Likes Received:
    9
    Hi

    From a tax perspective my understanding is that business related mileage can be claimed using the authorised mileage rates under the HMRC fixed profit car scheme. You can claim as a legitimate business expense mileage at rate of 40p mile for the first 10K miles and 25p per mile thereafter as expense against 'business profits' in any given tax. The provisio is the mileage claim has to be for business purposes only - you'll also need to check your car insurance includes 'Business Use'

    Hope that helps.


    Best Regards


    JohnP
     
  4. mally United Kingdom

    mally Well-Known Member

    Joined:
    Mar 2006
    Posts:
    2,244
    Likes Received:
    17
    umm, would it be hard to explain alot of miles to the tax many when most of us might not even leave the house
     
  5. Jeewhizz

    Jeewhizz Well-Known Member

    Joined:
    May 2006
    Posts:
    1,177
    Likes Received:
    18
    It'd be nigh on impossible!
     
  6. Johnp United Kingdom

    Johnp Active Member

    Joined:
    Jul 2006
    Posts:
    429
    Likes Received:
    9
    Hi

    legit business expenses could include trips to post office - posting those transfer forms (recorded delivery), trips to bank - paying in cheques, the odd Nominet meeting, the ocassional industry conference, trips to 'Servers R Us' etc. etc.

    Cheers


    John P
     
  7. mat United Kingdom

    mat Well-Known Member

    Joined:
    Apr 2007
    Posts:
    3,782
    Likes Received:
    73
    I dont bother claiming it!
     
  8. TinkyWinky United Kingdom

    TinkyWinky Active Member Acorn Supporter

    Joined:
    Mar 2006
    Posts:
    871
    Likes Received:
    8
    Regular strategy meetings across the country with friends in the business that know more than i do... that's 4000 miles a year then :)
     
  9. mally United Kingdom

    mally Well-Known Member

    Joined:
    Mar 2006
    Posts:
    2,244
    Likes Received:
    17
    Great news let's have a trip to Newcastle and a overnight stay and beer
     
  10. TinkyWinky United Kingdom

    TinkyWinky Active Member Acorn Supporter

    Joined:
    Mar 2006
    Posts:
    871
    Likes Received:
    8
    Don't forget yuou need to be discussing work issues.... whether that be in 'shooters', all bar one or the chippy ;)
     
  11. mally United Kingdom

    mally Well-Known Member

    Joined:
    Mar 2006
    Posts:
    2,244
    Likes Received:
    17
    I ended up buying one of these! Dodge Nitro

    [​IMG]
     
  12. SF

    SF Well-Known Member

    Joined:
    Jun 2005
    Posts:
    7,515
    Likes Received:
    57
    nice mally - gangsta
     
  13. mat United Kingdom

    mat Well-Known Member

    Joined:
    Apr 2007
    Posts:
    3,782
    Likes Received:
    73
    Just needs some 13 inch daytons now :cool:
     
  14. mally United Kingdom

    mally Well-Known Member

    Joined:
    Mar 2006
    Posts:
    2,244
    Likes Received:
    17
    haha, went to look at a new one yesterday, ended up getting one (20 inch standard alloys!)

    Would have prefered black but the deal was on the red ones.
     
  15. mat United Kingdom

    mat Well-Known Member

    Joined:
    Apr 2007
    Posts:
    3,782
    Likes Received:
    73
    Id rather have this....

    not a photoshop :D:cool:

    [​IMG]
     
  16. Pred United Kingdom

    Pred Well-Known Member

    Joined:
    Jul 2006
    Posts:
    7,208
    Likes Received:
    73
    many will have laptops i'm sure ;)

    depends what nature of work is, but theres all sorts of claims a decent accoiuntant can help u with

    its well worth paying for an accountant in my opinion as they will pay for themselves without question

    i want to know who the accountant is that the guy who used to part own tetra-pak has :eek:
    he's a billionaire and we pay him tax! seems to happen too much that sort of thing
     
Thread Status:
Not open for further replies.

Share This Page