Meeting expenses as Sole Trader. Definition of De-Minimis.

[giml]

Hi,

As a sole trader i travelled an hour to visit my accountant for advice. He didn't want to bill me but advised I could still put in an amount (around £250 as that what he may have charged me) for the meeting as an expense, under/using a term that i don't understand fully, de minimis.

I have nothing to prove this is an expense as he isn't going to send me a bill. This goes against my current bookkeeping habits so if anyone could shed light on this practise or term i'd be grateful.

Cheers

giml

[jerome.lane]

You should just claim your travel and subsistence expenses. There is no statutory provision for accounting for professional fees you haven't paid.

[robbob]

He didn't want to bill me but advised I could still put in an amount (around £250 as that what he may have charged me) for the meeting as an expense, under/using a term that i don't understand fully, de minimis.

Robbob <<falls of his chair whilst spraying full mouth of coffee over desk.

I though i had heard everything by now - an accountant stating the equivalent of the old pub chat "you should claim a tax deduction for time spent" is beyond belief - is there any possible chance there was miss communication here and the accountant was simply reminding you to claim the 45p per mile for using the car presuming you claim car mileage at 45p a mile. If not i think you may want to consider changing accountants pronto their statement as quoted is worrying with cherries on top (or non fluffy handcuffs).

Being honest i should probably already have fallen of my chair with this bit

He didn't want to bill me

- this discussion didn't take place in a wetherspoons did it?

[giml]

Hi Jerome & Robob,

Thank you for your replies, My thoughts exactly, been doing my own (simple) accounts for years and feel comfortable with what I have been doing - being honest but still taking advantage of all allowances HMRC permit. Naturally every year i do added research to make sure i'm not paying too much tax.

What grasped my attention is

1) "de minimis" (of which i can't find much)

and

2) the idea that it is acceptable to deduct as an expense time/tasks that you have had to do yourself (that you would usually pay someone else for). E.g your website, a meeting, repairs on machinery etc

Robob I hope your office wasn't a mess after that little shock!

Keep safe all

giml

[giml]

this discussion didn't take place in a wetherspoons did it?

- That really would be the cherry on top