Expense entitlements: Self Employed contractor.

S

slash55

Guest
Hi all,

Just started as a contractor. I'm self employed. I was woncdering the type of expenses I can claim.

Can I claim for a normal 10 euro lunch for myself or does it have to be a business lunch for more than one person.

Can I claim milage if I travel outside my normal place of work. Is there a minimum distance I have to travel in order to claim business travel subsidence eg for >5 hours away, I can claim 43.13euros.

Thanks for your time.
 
Re: Expense entitlements

Do you have an accountant to advise you on such matters?

You cannot claim for normal lunch expenses as far as I know. Business lunches or expenses incurred on the road may be different.
 
Re: Expense entitlements

This, and the links within, covers most of what you need to know. I also agree that you should talk to your accountant.
 
Re: Expense entitlements

Mileage and Subsistence relate to an Employer reimbursing an Employee for business trips, if you are a sole trader you cannot claim for these, you can only claim the actual amount incurred based on receipts (i.e. actual cost of fuel, not the rate per mile)

Are you working on the same site each day? If so then this is regarded as your place of work (i.e. the place where you carry out your duties) so the issue of business travel expenses would only arise when you are visiting a different site, away from your normal place of work.

Normal lunches would not be allowable, unless you are away from your normal place of work.

You need the advice of an accountant, getting these things wrong could be very expensive, and hopefully a good accountant will save you enough in tax to justify their fees!

Regards

podowd
www.prima.ie
 
Re: Expense entitlements

If you are going to track mileage as a company director or employee, I designed a spreadsheet using Google Docs to do this (because Im a techie and hate paper!)

I was a real pain for me to track mileage as I kept loosing the sheet of paper or forgetting to record the journey. Using Google Docs spreadsheet meant that I can access it anywhere there is an internet connection (in my case, my laptop) and it calculates my expenses in real-time.

It also needed to take in to account that the rate drops to a lower allowance once you do over 6437km per annum, and this is handled by the spreadsheet also.

If anyone would like a copy of this spreadsheet the price is €10, (I would have happilly paid this to solve this problem!) PM me if you want a copy.

Regards,
Martin C.
http://www.techielive.com
 
thanks people,

I contacted my accountant... v good advise.

I'm set me up as a director by my management company. And beacuse I travel a good bit from my normal place of work. I am entitled to milage and subsidence.
It is necessary to have at least some recipts and paperwork to back these claims up in the event of an audit.
 
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