Its Tax Time

[Andy P]

I generally claim for:

car and travel (petrol, tolls, insurance, tax, repairs and mot)

stationary and printing (printer, paper, inks, envelopes, stamps)

phone and internet (percentage of broadband as its a house product but my phone is a business one)

anything purchased as capital (which is normally a lot)

any business expenditure (insurance, content plus, dj club subs, music, website)

any other advertising done (facebook, google, stickers for car, business cards)

[Imagine]

Just out if interest ('cos I'm getting my paperwork together at the moment ready for my accountant to deal with, and I will ask him this question.....)

I know that if you buy clothing, it has to be logo'd at source (i.e. printed/embroidered) and you can't just buy the iron on transfers and do that yourself (got pulled up on that one last year).
I know you can buy safety-wear such as toe-tector boots.
I know you can buy costumes (I've got a lock up full of them)

The one I don't know....I've got to buy a new suit for the number of weddings I now do (my old one's getting past it). It's literally the only time I wear a suit...is that a tax deductible expense, or have I got to buy that one from my own money?

[rth_discos]

The one I don't know....I've got to buy a new suit for the number of weddings I now do (my old one's getting past it). It's literally the only time I wear a suit...is that a tax deductible expense, or have I got to buy that one from my own money?

If it's purely for business purposes only, then yes, it's tax deductable.

Do you have your own suit that you use for personal use, ie, if you attend a wedding yourself?

[Imagine]

If it's purely for business purposes only, then yes, it's tax deductable.

Do you have your own suit that you use for personal use, ie, if you attend a wedding yourself?

Yes, it's the one I've been using for the disco (it gets used for personal use about once every 2-3 years).

[rth_discos]

Yes, it's the one I've been using for the disco (it gets used for personal use about once every 2-3 years).

Then it's not 100% business. So the tax man could easily question that one.

[Andy P]

I too wish i'd read about the logo'd clothing - spent a load on shoes, polo shirts etc then found it was out my pocket

[Imagine]

Then it's not 100% business. So the tax man could easily question that one.

Hmm...might have to get the local businesswear supplier to embroider a small logo on the breast pocket

[Benny Smyth]

The one I don't know....I've got to buy a new suit for the number of weddings I now do (my old one's getting past it). It's literally the only time I wear a suit...is that a tax deductible expense, or have I got to buy that one from my own money?

The answer to that is no.

My accountant told me about a case - I don't remember the exact scenario and I'll see if I can source the details - but the general jist of it was that a brief took HMRC to court because he tried to claim the black robe he wears in court as a business expense, however HMRC's stance was that if you can wear it for non-business purposes, then it cannot be claimed. In this instance, it was said that the robe can be used as a wind breaker or something like that, ergo not 100% used for business. HMRC won the case.

[Imagine]

The answer to that is no.

My accountant told me about a case - I don't remember the exact scenario and I'll see if I can source the details - but the general jist of it was that a brief took HMRC to court because he tried to claim the black robe he wears in court as a business expense, however HMRC's stance was that if you can wear it for non-business purposes, then it cannot be claimed. In this instance, it was said that the robe can be used as a wind breaker or something like that, ergo not 100% used for business. HMRC won the case.

Yes, I've just been doing a bit of surfing and there's several of those.
Apparently, branded stuff is a grey area as well (although it's technically advertising the business, it has dual purpose and can be worn outside of the business so therefore not allowable).

Having said that, I stumbled upon a site specifically for "escorts" whilst looking for the case you mention Benny (didn't look at the URL, just the fact that it mentioned your case).....you wouldn't believe what they're allowed to claim.

Will speak to my bean counter for an official opinion on the suit (i.e. whether some sort of branding would suffice), other than that, I might have to make sure it's tailored from PVC

[Benny Smyth]

Having said that, I stumbled upon a site specifically for "escorts" whilst looking for the case you mention Benny (didn't look at the URL, just the fact that it mentioned your case).....you wouldn't believe what they're allowed to claim.

Clear your history before Mrs. Wayne see's that!