As a contractor, you may need to travel as part of your contract duties – within the UK, or even overseas. Which travel expenses can you legitimately claim?
Limited Company Contractor Expenses
- As a contractor, you may incur many expenses related to your trade.
- For limited company contractors, you can offset almost all legitimate business expenses against your company's Corporation Tax bill.
- However, if you receive any personal benefit from business expenses paid by your company, you and the company will be taxed on the value of any 'Benefits-in-Kind'.
- The SDC rules restrict the expenses available to umbrella contractors, although some expenses are still permitted.
- Start with our popular guide to limited company expenses.
What expenses can you claim when contracting abroad?
If you’re thinking of taking up a job offer overseas, or you’re already contracting abroad, one potentially confusing aspect of record-keeping relates to expenses claims.
Can I claim for the expense of renting a flat near my new contract?
One of our readers has recently been offered a contract role 200 miles away from home. Can he claim the cost of renting accommodation against his limited company’s tax bill?
Electric vehicles – a tax efficient alternative for contractors?
The number of tax breaks open to contractors is perhaps at an all-time low, however, electric vehicles offer one option that many contractors may still be overlooking.