Q for tax accountants
Discussion
Up to a point.
The rules for claiming expenses as an employee are stricter than the rules for the self-emplyed.
A self-empluyed individual can claim expenses incurred "wholly and exclusively" for the purpose of the trade.
An employee can only claim expenses incurred "wholly, exclusivel AND NECESSARILLY" in the course of his/her employment.
The rules for claiming expenses as an employee are stricter than the rules for the self-emplyed.
A self-empluyed individual can claim expenses incurred "wholly and exclusively" for the purpose of the trade.
An employee can only claim expenses incurred "wholly, exclusivel AND NECESSARILLY" in the course of his/her employment.
Just to give you an example Towman; I personally complete a tax return and the only expenses I claim for are my professional membership and my out of office mileage at the Inland Revenue agreed rate.
For most employees the only valid expense is mileage outside your usual place of work. Which is calculated at the IR rate (40p per mile first 10,000 miles) less whatever the firm you work for has paid you to cover this expense. Travelling to and from your usual place of work is not a valid expense.
For most employees the only valid expense is mileage outside your usual place of work. Which is calculated at the IR rate (40p per mile first 10,000 miles) less whatever the firm you work for has paid you to cover this expense. Travelling to and from your usual place of work is not a valid expense.
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