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Allowable Expenses - please help!

Allowable Expenses - please help!

Hi all, 

I am a sole director of a limited company. I wanted to know if any of you knew if the following were allowable expenses or not - 

 - I ride my bike to work - would the purchase of my bike, upkeep and any accessories (including clothing) be allowable?

 - I am the only director of the company and I currently receive Psychotherapy (Counselling) - from my understanding this is an allowable expense? Please see the link below 

https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim21845

 - I started my psychotherapy (Which was actually work related) when the company started. I did not put it through the first year as the company was dormant and took the hit myself. This was 2 years ago - am I able to put these expenses through now?

Many thanks in advance as all this stuff just boggles me!

Mat

Replies

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25th Feb 2016 11:31

If this stuff boggles you so much, engage an accountant.

Thanks (1)
25th Feb 2016 11:41

Psychotherapy and counselling are different things. You need a dictionary as well as an accountant.

Why do you have pychotherapy though? If the reason is because you are yourself training to be a psychotherapist and the training falls within the work-related training exemption, then so too would the psychotherapy.

I assume that the company is engaged in the creation of cryptic puzzles. You are very good at what you do.

You probably have no chance with your bike expenses as it stands, but your accountant will know of a cunning little wheeze.

Thanks (1)
25th Feb 2016 12:00

Hmmm. Somebody who needs psychotherapy and rides a bicycle.

You should start a blog. 

Thanks (2)
25th Feb 2016 12:11

There is about an 8% chance

Tim Vane wrote:

Hmmm. Somebody who needs psychotherapy and rides a bicycle.

You should start a blog. 

 

That this is not redundant advice

Thanks (0)
25th Feb 2016 12:07

The psychotherapy requirement is normal for psychotherapists, and can be allowable.

If the bike (I assume cycle) is your own, then you've missed a trick and are too late. You could have bought it via the company using the cycle to work scheme, which would have meant that you got it tax free and the company got relief. However, you can't do it retrospectively.

The way you phrased it, it sounds as though the travel is ordinary commute, and so not allowable.

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