From: neverwas on
> Think you'll find they do now.

Can you please give me any clue to the relevant provisions - eg any HMRC
guidance? accountant's advice? legislation? (I am retired now so my
interest is purely concern that I've lost the ability even to search the
net - and that HMRC have lost the ability to amend the BIM.)

--
Robin


From: Dave Liquorice on
On 30 Jan 2008 21:36:29 GMT, Bob Eager wrote:

>> Cite from the HMR&C website please.
>
> http://www.hmrc.gov.uk/manuals/eimanual/EIM31240.htm
>
> (my employer uses this as a base for payment)

As already been said that is for employees etc. Also note the date, yes it
does say "any changes will be included as they occur." but the HMR&C site
is pretty awful as far as maintenace is concerned. There is an lot of
historical information that is still being presented as it was when new
and current.

I had a fairly hefty dig about last month and could only find references
to mileage rates and scale rates for meals etc being "reasonable", so if
your work required lots of off road stuff in a 4x4 they would allow a
higher mileage rate. Several places very carefully did not give any
guidance as any rate, low or high.

I think the distinction between an "employee" and "self-employed/sole
trader" makes a difference. Along with who (in the legal sense) owns the
vechicle and pays for its mainentance, insurance etc.

--
Cheers
Dave.



From: Fran on

"Dave Liquorice" <allsortsnotthisbit(a)howhill.com> wrote in message
news:nyyfbegfubjuvyypbz.jvhpup0.pminews(a)srv1.howhill.net...
> On 30 Jan 2008 21:36:29 GMT, Bob Eager wrote:
>
>>> Cite from the HMR&C website please.
>>
>> http://www.hmrc.gov.uk/manuals/eimanual/EIM31240.htm
>>
>> (my employer uses this as a base for payment)
>
> As already been said that is for employees etc. Also note the date, yes it
> does say "any changes will be included as they occur." but the HMR&C site
> is pretty awful as far as maintenace is concerned. There is an lot of
> historical information that is still being presented as it was when new
> and current.
>
> I had a fairly hefty dig about last month and could only find references
> to mileage rates and scale rates for meals etc being "reasonable", so if
> your work required lots of off road stuff in a 4x4 they would allow a
> higher mileage rate.

Don't think so. I've worked alongside people like that - and done some
myself! - and the Revenue were pretty tight on the set rate. You can
certainly pay your employees, if we're talking employed, a higher mileage
rate, but you'll be taxed on the difference.


From: Dave Liquorice on
On Wed, 30 Jan 2008 23:40:59 +0000, Spacker wrote:

> Nonsense. If it wasn't a trade sale, and it wasn't bought specifically
> to sell, there will be no tax. You don't pay tax when you sell your
> own property.

Incorrect. You pay tax on any gains. If you bought a watch for personal
use for £300 and sold it later for £500 you would be liable for tax on the
£200 difference. The chances are though that most things bought new and
later sold are not likely to be sold for more than you paid for them.

> How much you charged for delivery would have no affect on that.

Any charge less actual costs is taxable.

--
Cheers
Dave.



From: Fran on

"Dave Liquorice" <allsortsnotthisbit(a)howhill.com> wrote in message
news:nyyfbegfubjuvyypbz.jvih9z0.pminews(a)srv1.howhill.net...
On Wed, 30 Jan 2008 23:40:59 +0000, Spacker wrote:

> Nonsense. If it wasn't a trade sale, and it wasn't bought specifically
> to sell, there will be no tax. You don't pay tax when you sell your
> own property.

Incorrect. You pay tax on any gains. If you bought a watch for personal
use for �300 and sold it later for �500 you would be liable for tax on the
�200 difference. The chances are though that most things bought new and
later sold are not likely to be sold for more than you paid for them.

> How much you charged for delivery would have no affect on that.

Any charge less actual costs is taxable.

====

Small point: yes, taxable as a gain, but if over your CGT limit.


First  |  Prev  |  Next  |  Last
Pages: 1 2 3
Prev: withdrasw
Next: Get Online Dating-Friend with eBay !!