Mileage\Salary Ratio

bigbustour

Registered User
Messages
37
Hi Guys

Looking for some guidance on this. Set up company in Oct 2009. Since then and now I have taken circa €19,000 out as pay\milage\expenses.
I do a lot of milage and on revenue rates have over 12k of my withdrawls covered by that. I also have €2,000 of recepited expenses which leaves about 5k that I will be after taking as salary.

My question is will revenue look at this and say the ratio of milage to salary is too high or should I be ok.

Thanks in advance
 
It's entirely up to your employer (effectively yourself) to determine your salary. However, in the event of an examination, Revenue would definitely be inclined to scrutinise the mileage expenses if they are so high relative to the level of salary.

For the mileage expenses to be allowable, they must be properly logged and receipted, as to the purpose and duration of the trips. see

As regards the other €2k in receipted expenses, depending on what they are, to the extent that they are already reimbursed by the flat rate allowance (i.e. diesel, servicing, train/bus fares, motorway tolls etc...), then they would not be allowable again.
 
Who actually pays for the motor fuel, insurance, tax, repairs etc etc

The company or you personally?
 
I pay for fuel, repairs, tax and have kept a detailed record of trips, milage etc. The 2k in expenses was for laptops, office equipment, postage etc