The Book-keepers Forum (BKF)

Post Info TOPIC: Expenses I claimed back from an employer
Vix


Newbie

Status: Offline
Posts: 3
Date:
Expenses I claimed back from an employer
Permalink Closed


Sorry if this has been covered elsewhere - it seems like a really simple question but I've had different feedback from colleagues so wanted to ask the experts!

I'm a freelance TV producer and on shoots I sometimes end up having to buy the crew lunch or pay for train fares and taxis/hotels.

I claim this back from the production company by invoice, for which I have to provide all my receipts.

I assume that I have to declare these invoice in my profits - but it seems a bit unfair in that I'm being taxed as though it's income but for me it's a business expense

Or should I put this in both my profit and my loss columns, effectively writing it off?


__________________


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Hi Vix,

supply the production company with copies of the receipts, they just want to make sure the payments are legitimate and will claim the expenses directly from your invoice. You keep the originals and post as expenses.

Rob

__________________
Rob
www.accounts-solutions.com


Guru

Status: Offline
Posts: 1329
Date:
Permalink Closed

You should put it in both, make sure you keep the receipts and send copies of them to the production company. Also if you are VAT registered you need to charge VAT on them when you invoice the production company irrespective of whether or not VAT was charged or chargeable on the original receipts.

__________________

Advice from beyond the grave!!!

E&OE



Guru

Status: Offline
Posts: 1329
Date:
Permalink Closed

You bet me to it Rob!!!

__________________

Advice from beyond the grave!!!

E&OE



Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

I'm glad we gave identical advice though Sheila!

__________________
Rob
www.accounts-solutions.com
Vix


Newbie

Status: Offline
Posts: 3
Date:
Permalink Closed

Thanks very much for getting back to me so quickly - unfortunately I'm not sure I've still got the originals! But good to know I don't have to pay income tax on it in principle.

__________________


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Did you retain copies...if so treat them as original.

Rob

__________________
Rob
www.accounts-solutions.com


Guru

Status: Offline
Posts: 882
Date:
Permalink Closed

is it right to charge VAT on top of the VAT included expense?

I thought it was wrong to tax a tax?

P

__________________


Expert

Status: Offline
Posts: 1707
Date:
Permalink Closed

BackOfficeGroup wrote:

is it right to charge VAT on top of the VAT included expense?

I thought it was wrong to tax a tax?

P



That's not what she meant (if I am able to mind read). She meant if YOU are VAT registered and one of the expenses was from a non VAT registered company, you would still have to add VAT onto YOUR invoice. If you're not VAT registered then it won't apply.


 



__________________

Never buy black socks from a normal shop. They shaft you every time.

http://www.smbps.co.uk/

Vix


Newbie

Status: Offline
Posts: 3
Date:
Permalink Closed

Also do I list this sum in Expenses Reombursed?

__________________


Guru

Status: Offline
Posts: 882
Date:
Permalink Closed

Now that makes sense if thats what she meant. I'll go back into my cave now.

P

__________________


Guru

Status: Offline
Posts: 1329
Date:
Permalink Closed

Peasie

Yes that's what I meant

__________________

Advice from beyond the grave!!!

E&OE

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About