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

[mallymally is verified member.]

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

 

[Johnp]

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

 

[mallymally is verified member.]

umm, would it be hard to explain alot of miles to the tax many when most of us might not even leave the house

 

[Jeewhizz]

It'd be nigh on impossible!

 

[Johnp]

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

 

[matmat is verified member.]

I dont bother claiming it!

 

[TinkyWinky]

legit business expenses could include...

Regular strategy meetings across the country with friends in the business that know more than i do... that's 4000 miles a year then

 

[mallymally is verified member.]

Great news let's have a trip to Newcastle and a overnight stay and beer

 

[TinkyWinky]

Great news let's have a trip to Newcastle and a overnight stay and beer

Don't forget yuou need to be discussing work issues.... whether that be in 'shooters', all bar one or the chippy

 

[mallymally is verified member.]

I ended up buying one of these! Dodge Nitro

 

[SFSF is verified member.]

nice mally - gangsta

 

[matmat is verified member.]

Just needs some 13 inch daytons now

 

[mallymally is verified member.]

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.

 

[matmat is verified member.]

Id rather have this....

not a photoshop

 

[PredPred is verified member.]

umm, would it be hard to explain alot of miles to the tax many when most of us might not even leave the house

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
he's a billionaire and we pay him tax! seems to happen too much that sort of thing