![]() The rates of mileage depends on the engine size of the vehicle and the amount of business mileage per year as outlined below Motor Vehicles Here are the bands for tax deductible expense for use of motor vehicles Distance/Engine Capacityĭomestic Subsistence Rates - Overnight Allowances Maximum (Tax Free) subsistence rates are based on the civil service rates as outlined below.ĭomestic Subsistence Rates - Day Allowances Normal (10+hrs) Similarly, the subsistence claims will only be allowable in situations where the contractor is on a business journey away from his/her normal place of work. If a contractor undertakes the most part of his/her work in one particular clients’ office, the cost of travel to and from the place will not be allowable.īusiness journeys are allowable expenses – this is where a contractor travels from one place to another to perform duties of employment but where it generally involves a temporary absence from the normal place of work. It is important to note that expenses cannot be claimed for travel to and from the ‘normal place of work’. However, below are some of the more common expenses that are now being queried or challenged by Revenue: Travel and Subsistence Expenses Professional Development costs (CPD, training courses etc.).Certain Travel and Subsistence Expenses.Administration costs, print, post and stationary.Some of the common costs and expenses are listed below. In general, costs incurred wholly and exclusively for the purposes of the trade/profession are allowable. However, the levels of expenses can also be genuine – and should result in no additional taxes or penalties and/or over claiming can be due to innocent behaviour, technical adjustment and careless behaviour, resulting in lower penalties. If selected for audit on that basis, the opening position of Revenue is that deliberate behaviour is suspected and therefore higher penalties will be sought. Those selected for audit are typically showing high levels of expenses. Or use the enquiry form Revenue Commissioners have been clamping down on contractors over claiming expenses in their accounts and tax returns and are implementing serious penalties for those involved. The question every contractor wants to know is ‘ What expenses can I really claim?’ Need advice or information on tax accounting services? Contact Liam Burns here on (01)5677380 ![]()
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