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Posts tagged “Travel”

Contractors in the UK are allowed to claim back travel expenses, so long as these are incurred while travelling to and from a ‘temporary workplace’. A workplace is deemed temporary so long as the contractor is not travelling to the same site for a period of 24 months or longer. Beyond this point, contractors cannot claim back travel expenses. This period is known as the 24 Month Rule and is something all contractors should be aware of. 
At first glance, a company car may appear to be a fantastic perk, but once employees start looking at the emissions based company car tax they’ll have to pay, the luxury of having one may begin to seem like a reluctant or unnecessary expense. And once we consider the National Insurance costs to the employer and the delay in claiming deductions for depreciation, such as capital allowances, it becomes clear that a company car is unlikely to be tax efficient from either side. But what about a company motorcycle? 
Contractors in the UK may have heard recent rumblings of new legislation placing restrictions on claiming tax relief on travel and subsistence. The dreaded “IR35” will take effect from this month (April 2016), but what do the changes mean for you? 
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