Allowable Expenses for Employed Accountants

Allowable Expenses for Employed Accountants

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Hi all!

Thanks for taking the time to read this. A question more for my own curiosity than to actually put into practice :)

Recently become qualified and extended my PAYE code for 12/13 for membership fees allowable for chartered accountants.

Was wondering whether I should be consider claiming for anything else?

Study and experience says no as (i) no uniform required (ii) not using home as office (if I was though how to HMRC best agree this?) etc.

I have looked at http://www.hmrc.gov.uk/manuals/eimanual/EIM32712.htm at the agreed flat rate expenses which was interesting - may come in use for some clients. Is this not increased in line with inflation year-on-year? If not seems quite unfair!

Any input would be greatly appreciated!

Coeus.

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By HUGH W DUNLOP
08th Apr 2012 19:15

ALLOWANCES

As an employee there is very little else you can claim for. Perhaps use of own transport on business, and meals when at clients premises on business. As you are an employee, you MAY be able to claim for other expenses necessarily (etc) incurred in the performance of your duties, provided these are not reimbursed by your employer. Client entertaining is NEVER allowed.

Or you may find as I did; you are working for a pittance, but the company charges extortionate fees for your services. You can make a very comfortable living with a fee structure midway between these, and with HMR & C assistance, as a new company you may attend meetings held at your local tax office to learn all allowable expenses. 

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