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Any accountants out there? |
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Posted: 2013-04-08 13:30
Can I claim a parking fine as a business expense and put it on my books? I was on legitimate work business at the time. (Can I still claim if it was because I was too dopey to remember to buy a ticket?) 
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PhilM
Just can't stay away
Joined: 17-May-2010
Posts: 84
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Posted: 2013-04-08 13:59
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Posted: 2013-04-08 14:13
Right, cheers for that... I've got a headache now - a simple yes or no would have sufficed!  I guess I'll swallow it this time - it's only £25, and I don't want to be seen to be bending anything! Cheers for the reply though.
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PhilM
Just can't stay away
Joined: 17-May-2010
Posts: 84
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Posted: 2013-04-08 15:00
Effectively if you're set up as a limited company you can pay it and claim it as a business expense.
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Administrator
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Posted: 2013-04-08 15:15
Sole Trader, and I can't "Take the Mickey" with the tax boys.
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PhilM
Just can't stay away
Joined: 17-May-2010
Posts: 84
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Posted: 2013-04-08 15:40
Aye you wouldn't be able to justify it as a sole trader.
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tigger147
Home away from home
Joined: 19-Jun-2007
Posts: 2605
From: liverpool
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Posted: 2013-04-08 16:57
not sure about ac-count-ants, but an old count just pegged it !, think that's how you spell it anyway !! [ This message was edited by: tigger147 on 2013-04-08 16:57 ]
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BPotter
Home away from home
Joined: 24-Mar-2007
Posts: 370
From: London
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Posted: 2013-04-08 21:57
You should be an LTD makes better tax sense. You pay a salary up to your tax free allowance to yourself then take the rest as company dividends.
In my experience banks will also be more willing to give larger overdraft facilities etc with an LTD than a sole trader.
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TonyDavid
Home away from home
Joined: 17-Apr-2006
Posts: 565
From: Cambridgeshire
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Posted: 2013-04-08 22:39
BDK, how can you claim that parking outside a lap dancing club is legitimate work business?
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chirst147
Home away from home
Joined: 28-Aug-2006
Posts: 630
From: Birmingham
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Posted: 2013-04-08 23:07
Its definitely not an allowable expense along with any HMRC fines for late payment of taxes.
However, personally I would put it through as it is unlikely that HMRC would find out unless they happen to pick you at random to review. And even then they would have to specifically ask to see your motor expenses.
Even if they do find out they are unlikely to take any action, but ask for the tax that you should have paid to be paid.
Craig
Hirst Accountancy
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Posted: 2013-04-08 23:08
Cheers BPotter but I've had a LTD company before and it was more hassle than it was worth... Maybe later, but for now, I'm happy keeping it simple.
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Administrator
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Posted: 2013-04-08 23:10
TonyDavid - I wish! 
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Administrator
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Posted: 2013-04-08 23:16
Hi Craig,
What about overdraft fees? Halifax were charging me £1 a day on the bank account I use for my business... Most of my income arrives through Paypal which always shows a healthy balance, but if I don't keep track of it now and again the bank account can run low. Can I claim those overdraft fees against tax?
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PhilM
Just can't stay away
Joined: 17-May-2010
Posts: 84
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Posted: 2013-04-08 23:30
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