Thanks for this. HMRC states however "You must not use these rates in any other circumstances." so I am not sure you can use the advisory rate for input vat claim in private cars.
Thank you for this. I understand that the employees using their own car can claim mileage at 45p/25p mile. My understanding was that the company could also claim the input VAT on the mileage used for business trips made by emloyees in their own cars as per the advisory rates. However, as per my initial query, HMRC website states now that the advisory rates must not be used in any other circumstances rather than when company car is used. I do not remember seeing this statement before and think that this is something new. So what is the basis, if any, for claiming input vat on mileage done in private cars? I
I am not sure about this - will need to ask, what bearing does it have on the profitability of the transfer? I would imagine she wants to pay herself a dividend having deducted the full interest on the mortgage from the rental income.
My answers
I signed up for Iris OpenSpace but to upload anything you need to subscribe @ £5 a month for 1GB space, otherwise unable to upload any documents...
Thank you very much for this - panic over!
Thanks for this. HMRC states however "You must not use these rates in any other circumstances." so I am not sure you can use the advisory rate for input vat claim in private cars.
Thank you for this. I understand that the employees using their own car can claim mileage at 45p/25p mile. My understanding was that the company could also claim the input VAT on the mileage used for business trips made by emloyees in their own cars as per the advisory rates. However, as per my initial query, HMRC website states now that the advisory rates must not be used in any other circumstances rather than when company car is used. I do not remember seeing this statement before and think that this is something new. So what is the basis, if any, for claiming input vat on mileage done in private cars? I
Thank you very much. That makes much more sense.
If anyone in the future wanted more details on this
https://www.gov.uk/capital-allowances-sell-asset
I am not sure about this - will need to ask, what bearing does it have on the profitability of the transfer? I would imagine she wants to pay herself a dividend having deducted the full interest on the mortgage from the rental income.
Thanks
Quickbooks timer
I use QB timer for myself but you can check these apps:
http://www.fastcompany.com/3024249/10-time-tracking-apps-that-will-make-...
Please let us know your findings!
Skrill
One of my online retail clients moved from Paypal to Skrill insisting this is a better option.
Payroll, CRM and antivirus
I use payroo.com for payroll, it is free for up to 10 employees, no limit on clients.
CRM system including project management: insightly.com
Antivirus: Avast
No, no P800s.
No, nothing received from HMRC