Travel Expense

[worldofparties]

just a quick question guys, How do you work out your Travel Expense?

[rob1963]

just a quick question guys, How do you work out your Travel Expense?

Are you referring to using your car or van for business?

[StarZSoundS]

just a quick question guys, How do you work out your Travel Expense?

Thats what I pay my accountant to do??:eek: ;)

[NKR]

40p a mile up to 10,000 for using own vehicle for business mileage. No other receipts required.

[rob1963]

75% of my van use is for business purposes, so 75% of my diesel, tax, insurance, MOT, servicing & repairs are travelling expenses.

Simple!

Last time I checked, the figure was actually just over 80%, but I still work to 75% as it's easier.

:D

[Penfold42]

40p a mile up to 10,000 for using own vehicle for business mileage. No other receipts required.

:agree:

[A1DL]

It depends on your individual circumstances and in particular whom owns the vehicle. The 40p per mile up to 10,000 miles (and 25p per mile thereafter IIRC) relates to business usage of a privately owned vehicle.

If however the business owns the vehicle and it is only used for business use, then the expenses are quite simply all invoices appertaining to the running of the vehicle (servicing, repairs, licences, fuel & sundries) plus annual depreciation (typically 25% reducing balance) of the asset.

Any decent accountant will guide you on the most financially efficient option for you or your business, which will vary from one sole trader/partnership/company to another - depending on factors such as vehicle age, annual mileage, vehicle owner, replacement frequency, financing, etc.

[worldofparties]

Right, I have totally messed up that question. :bang:

I understand for your tax return is calculated at 40p per mile, or you can bring in the asset of the van into your business via the balance sheet...bla.bla.bla.

It is a van I use.

The question I really should of asked was. When travelling to and from a gig how do you work out your fuel only?

For example I use this formula; Travel Cost = Miles to gig x the number of trips needed x 0.20 (yes I only charge 20p per mile - this is just for fuel remember) then if need be, add my time onto that figure usualy £7.50 for driving to and from jobs.

:o

[A1DL]

Right, I have totally messed up that question. :bang:

I understand for your tax return is calculated at 40p per mile, or you can bring in the asset of the van into your business via the balance sheet...bla.bla.bla.

It is a van I use.

The question I really should of asked was. When travelling to and from a gig how do you work out your fuel only?

For example I use this formula; Travel Cost = Miles to gig x the number of trips needed x 0.20 (yes I only charge 20p per mile - this is just for fuel remember) then if need be, add my time onto that figure usualy £7.50 for driving to and from jobs.

:o


I don't understand the 20p and the £7.50, Paul :confused:

I'm guessing you are a sole trader, the vehicle belongs to you as a private individual and that you declare your earnings as a self employed individual. If that's the case, why are you complicating things?

[Corabar Entertainment]

I think Paul may be asking people what basis they make additional charges to the client?

Am I right Paul?

[worldofparties]

Not really additional charges but say you got out for £180 a night, how much money do you take off of that as Fuel ?

Then again if you say prices from £150 then you add your fuel, that would be classed as additional charges - yes.

[A1DL]

I think Paul may be asking people what basis they make additional charges to the client?


sorry for confusing things Ang, I thought it was a tax return question.

[Corabar Entertainment]

sorry for confusing things Ang, I thought it was a tax return question.No need to apologise to me Tony! :)

[Danno13]

Any job over £100 Sun-Thurs, or £200 Fri-Sun has a free mileage allowance of 120 miles - so that could be a 60 mile DJ booking, or a 30 mile hire booking (two trips) Outside of that, I add 50p+VAT per mile to cover wear and tear and a modest driving wage.

[Solitaire Events Ltd]

Any job over £100 Sun-Thurs, or £200 Fri-Sun has a free mileage allowance of 120 miles - so that could be a 60 mile DJ booking, or a 30 mile hire booking (two trips) Outside of that, I add 50p+VAT per mile to cover wear and tear and a modest driving wage.

Have you changed any of this Dan?

I am currently trying to work out what to charge and how to charge for the photo booth.

For DJs, I tend to work out how long it will take to get somewhere rather than the mileage. Central London is 50 miles but takes 2 hours to get to for example...

[Danno13]

Have you changed any of this Dan?

I am currently trying to work out what to charge and how to charge for the photo booth.

For DJs, I tend to work out how long it will take to get somewhere rather than the mileage. Central London is 50 miles but takes 2 hours to get to for example...

Yep, I've ditched it completely this year, I now charge for time and fuel on every job starting from £10 p/h (more if it's a specialist job, sound egineer, lighting tech etc.) for man hours on site (and dead time) and 50p a mile from base for every journey both ways.

The previous method worked fine based on being restricted to just one service, but it got too complicated working what proportion of the hire cost was for staff when you start adding lots of services together, if that makes sense?

[Solitaire Events Ltd]

Yep, I've ditched it completely this year, I now charge for time and fuel on every job starting from £10 p/h (more if it's a specialist job, sound egineer, lighting tech etc.) for man hours on site (and dead time) and 50p a mile from base for every journey both ways.

OK, thanks.

Dead time or idle hours is going to be charged at £25+VAT per hour and 50p+VAT for mileage seems about right to me.

[visualdjmax]

60p per mile if its 20 miles outside our radius (Windsor that is!)

[Solitaire Events Ltd]

60p per mile if its 20 miles outside our radius (Windsor that is!)

I was thinking of giving 25 miles free and then 50p+VAT.

What happens if you fly? :confused: :D

[visualdjmax]

I was thinking of giving 25 miles free and then 50p+VAT.

What happens if you fly? :confused: :D

Then they pay the air fare:D and you get there a lot faster

[Jonathan Ford]

Don't know if it's any use, as I do nowhere near the travelling some of you guys do, but I charge 50p/mile each way, for anything greater than 10 miles.

[chrisj]

Car or van mileage allowance is 45p per mile
http://www.hmrc.gov.uk/rates/travel.htm
I do not charge a mileage fee but add it into the quote and mention it is included.

[Solitaire Events Ltd]

Car or van mileage allowance is 45p per mile
http://www.hmrc.gov.uk/rates/travel.htm
I do not charge a mileage fee but add it into the quote and mention it is included.

That's what you can claim from the government, not what you charge others.

[Vectis]

That's what you can claim from the government, not what you charge others.

Actually it's the amount you can offset against tax based on business use of a private vehicle. No other business related costs of running said vehicle can be offset against tax if you use this allowance scheme with the exception of any quantifiable difference between personal and business insurance cover, parking, cleaning and tolls.

</pedantic_mode> :D

[Solitaire Events Ltd]

Actually it's the amount you can offset against tax based on business use of a private vehicle. No other business related costs of running said vehicle can be offset against tax if you use this allowance scheme with the exception of any quantifiable difference between personal and business insurance cover, parking, cleaning and tolls.

</pedantic_mode> :D

You know what I meant...

<smack round the chops mode> :D