Hi all,
My wife is self-employed & would normally have happily used the Flat Rate Scheme to keep VAT matters nice and simple.
However, the Limited Cost Trader rules have meant that she's in the process of switching to the standard scheme.
(wrote the letter to HMRC about a month back, but no reply yet...)
I'm reasonably clear about a number of expenses where we can offset the payment made to HMRC (like agent's commission), but it's less clear on a couple of other things.
This enquiry is mainly concerned with petrol costs. HMRC offer several options, and it looks like we'll need to do the 'claim for business trips' option. (although I admit that I'm still unclear on how the Fuel Scale Charge method works)
Could someone offer some guidance as to how the 'claim for business trips' option works?
In my mind, we need to write down something like "for 5 days this week, the journey from Home to work at X was done, with a total of 200 miles."
Naturally we will obtain VAT receipts for any fuel bought.
But how does the above get processed into an amount of VAT to be reclaimed?
Feel free to point me at a relevant article, if that's easier than writing a lengthy reply - but any useful advice would be appreciated.
Thanks, Ralph
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch