Travel Expenses Archives

Jun 08 2024

Commuting Costs Guidance Updated

By admin HMRC, Potts & Co Accountancy & Business Advice News, Travel Expenses

HMRC has updated its guidance to clarify the tax position of reimbursed travel costs for hybrid workers. As many employees are now working from home at least part of the time, some employers are offering to repay certain travel expenses. HMRC's updated guidance includes new examples to illustrate when those…

Sep 08 2022

Cost Of Travelling To Work

By admin Expenses, HMRC, PAYE, Potts & Co Accountancy & Business Advice News, Travel Expenses

Travelling to the workplace may now be unaffordable for some employees but employers who help by reimbursing travel expenses could be creating an extra tax burden for themselves and their employees. The journey between an employee's home and their permanent workplace is treated as ordinary commuting and is not a…

Jun 15 2022

Trivial Benefits For Directors

By admin Company Cars, Directors, HMRC, Potts & Co Accountancy & Business Advice News, Travel Expenses

It is important to keep your personal money and your company's money completely separate. If you use your company's bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you. The loan creates a corporation tax charge if it is…

Jun 14 2022

Car Or Van Questions

By admin Company Cars, Electric Cars, HMRC, P11D, Potts & Co Accountancy & Business Advice News, Travel Expenses

When completing the annual expenses and benefits return (P11D) you need to know what company-provided vehicles each employee and director used in the tax year. A problem can arise when deciding whether small commercial vehicles should be treated as vans or as cars. The difference can have a significant impact…

Mar 18 2022

Advisory Fuel Rates

By admin Company Cars, HMRC, Potts & Co Accountancy & Business Advice News, Travel Expenses

The price of road fuel has increased significantly in the last few months and HMRC has responded by raising all the advisory fuel mileage rates for company cars from 1 December 2021. If you pay for the fuel in your company car your employer can reimburse you for the cost…

Dec 12 2018

Travel Expenses For Self-Employed Taxpayers

By admin HMRC, Potts & Co Accountancy & Business Advice News, Travel Expenses

As a self-employed trader, do you diligently record the mileage for every business journey you take? This attention to detail is necessary to convince HMRC that the cost of the journey is tax deductible. There are several apps which can help you with this. The question is: where does your…

Travel Expenses

Commuting Costs Guidance Updated

Cost Of Travelling To Work

Trivial Benefits For Directors

Car Or Van Questions

Advisory Fuel Rates

Travel Expenses For Self-Employed Taxpayers

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