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Tax and Expenses question


CVByrne
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Ok, I'm hoping someone here knows a bit about British Tax system. Specifically the P11D form. My company who I wouldn't trust in the slightest sent me the P11D form but it was blank. I assume since they pay me directly for expenses claimed they then claim the relief on my behalf from Revenue via this form.

So I ask should they supply me with full details of the claims they have made on this form for the previous tax year to revenue? Or are they not required to?

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Company pay for travel and subsistence expenses, I log them in online system and mail receipts to head office. They then reimburse me monthly for expenses incurred. I assume they also claim on accommodation supplied but they pay that rent directly.

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A P11D lists all of your benefits in kind and expenses for the year.  You're supposed to put down any expenses for company travel etc, even if they're fully remimbursed but not many people bother.  If you pay £100 for a hotel out of your own pocket, and then the company pays you that back, you haven't made a loss or gain, and so there's no tax effect for you.  The expense is a valid expense for the company though.

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I wouldn't worry too much about it.

 

I can't remember the exact naming of it but there are exemptions for small business expenses such as these. You only really need to worry if you are being paid expenses which are of a non business nature and liable to tax/NI.

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Cheers Risso. So because I've always been reimbursed by my company a blank for is valid as I've not been out of pocket for business reasons.

 

Pretty much. 

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The business model of the company is to send people on contract work in London. Supply them with accommodation, paid flights home and a set amount per day for subsistence. Plus other travel expenses like tube and train etc.

I always wondered if they claim twice for those costs once as a company and once on our behalf.

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They can't claim anything on your behalf.  They pay your income tax and NI, and can't deduct anything else.

 

One thing though, what do you mean by contract work?  Are you employed or self-employed?

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I work for a consultancy. They get paid the daily rates by the companies where we are sent in for contract work. The consultancy pays me.

But eventually I'll set up my own company rather than use a consultancy as the middle man.

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