Please could you help me with the following. I have a client who runs limited company and work only for London Underground.He needs to commute to various location around London and his travel cost is over £ 200 per month . Is that cost fully deductible ?
On the presumption his "usual" place of work is where the company trades from and not any of the addresses he has to travel to then yes he can claim the costs. But if any of then are regular journeys, (i.e. he goes to the same place on a regular basis/schedule) then he can only claim the costs for the first 2 years.
Hi,
just to expand upon Fraukes mention of the two year rule. As soon as it is believed that the contract would extebd beyond two years travel costs can no longer be claimed.
So, if on day one there is a belief that the contract will last for more than two years no travel can be claimed even if the contract actually finishes after 23 months and 29 days.
This has actyually come up a few times on the site. Try this search in Google to find some further expanations site:www.book-keepers.org.uk travel two year rule
hth,
Shaun.
p.s. hi Frauke, sorry for stepping on toes but just thought that needed to expand the two year rule info.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I try to keep an eye on this site (so still spammer and troll protected) and I post occassionally but haven't had chance to post anywhere near as much as normal.
Little by little, kicking and screaming I seem to be going away from practice and back to industry.
Sold a large chunk of quality clients to my freindly chartered at the start of last month as just didn't have the capacity.
I could have taken someone on but there are other issues about my offices and my supervision that I won't burden you with.
Beginning to feel that working in practice may have just been a holiday rather than the career change that I thought it was.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
been a couple of major hickups this year neither of which I had any control over or could have prepared for which has really made me question what the heck I'm doing.
I no longer have premises and have (as of the start of last month) sold my stable of weeklies and monthlies to the practice of the chartered who handled (past tense) my supervision.
Still got the practice but at the minute only for annuals. Going back to industry will still be as a service provider rather than an employee so just really a change from predominantly financial accounting for SME's to predominantly management accounting for larger entities (which as you know is the world I come from anyway).
Anyway, its all a long story that whilst not any great secret and certainly nothing juicy in it I'm not going to relay on here as there's one person involved in it that I don't want reading it,
All he best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
