Lambert Chapman LLP, Contractors Seminar - PCG

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TRAVEL EXPENSES& THE 24 MONTH RULEDuncan Forsyth, Senior ManagerLambert Chapman LLPLambert Chapman LLP, Contractors Seminar13 th September, 2012
What is the 24 month rule?• The cost of travel from home (being the permanentplace of work) to a temporary work place can beclaimed for up to 24 months.• Once it is known that a contract will exceed 24months, the cost of travel is no longer tax deductibleand becomes ordinary commuting.Lambert Chapman LLP, Contractors Seminar13 th September, 2012
Page 1 and 2: IF HMRC COME A’ KNOCKING…ARE YO
Page 3 and 4: 2) If your business is selected for
Page 5 and 6: 4) You need to keep business record
Page 7 and 8: 6) HMRC run the checks at 4 differe
Page 9 and 10: 8) HMRC powers to obtain informatio
Page 11 and 12: 10) Production of Information• Bu
Page 13 and 14: 12) HMRC visits to premises…• T
Page 15 and 16: 14) Computer Records• HMRC have t
Page 17: THANK YOU FOR LISTENINGChris Harman
Page 21 and 22: What travel costs can be claimed?
Page 23 and 24: Will a contract with a new client r
Page 25 and 26: What is the 40% test?• The 40% te
Page 27 and 28: Examples…• See the notes at the
Page 29 and 30: What are the risks of getting this
Page 31 and 32: Tax Efficient Strategies Incorporat
Page 33 and 34: Company with £300k profit or less.
Page 35 and 36: Getting The Mix RightProfitCompany
Page 37 and 38: Profit Extraction - Using Pensions:
Page 39 and 40: Relevant Life Assurance•Life assu
Page 41 and 42: Thank you for attendingIf you requi

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