We are often asked "what can we claim?"
The guidlines from HMRC are:
“Only expenses that are incurred wholly,
necessarily and exclusively in the performance of duties can be claimed
against earned income"
At Maxim we have a documented expense policy, that
you can download
here. this details how our company deals with creating a claim
that will allways pass inspection. Generally as we operate an asset finance
business as well, we can provide funding for other items that are to do
with work and can be claimed. It is always best to call us if you believe
that something that you need for work is a justified claimable expense,
(we'll ask Inland Revenue for an answer).
These are some examples of what can be claimed.
- Subsistence (food and drink) costs incurred
when working at a temporary workplace
- Mileage (for a car), at 45p per mile for the
first 10,000 miles and 25p per mile thereafter
- Rail, bus, taxi, car hire and air travel to
and from the temporary place of work, or on solely business travel,
such as to attend meetings
- Parking and other travel expenses, can include
tolls and congestion charges, but not parking fines
- Accommodation, such as the cost of a hotel or
bed and breakfast for overnight stays and, in some cases, the rental
cost of a property used by a contractor on working days
- Professional subscriptions, but only those included
on the approved
list created and maintained by HMRC
- Work-related training, where the training is
directly related to the kind of work performed by the contractor, and
related costs such as travel and subsistence when attending the training
- Eyesight tests, where it is necessary for the
contractor to use, or continue to use, visual display equipment, such
as PC monitors
- ‘Sundry expenses’, which could
include items such as personal protection equipment for engineering
contractors, replacement hand tools, or hardware and software where
personal use is incidental.