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Quick Question

  • 13-06-2011 11:01am
    #1
    Jamesw2
    Closed Accounts Posts: 137 ✭✭


    Does anyone know under what basis is a self employed person allowed subsistence and mileage? Cant find a coherent answer anywhere? Can't access tax material. Help greatfully appreciated. :confused:


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Jamesw2 wrote: »
    Does anyone know under what basis is a self employed person allowed subsistence and mileage? Cant find a coherent answer anywhere? Can't access tax material. Help greatfully appreciated. :confused:

    Quick answer: they're not!

    Those terms (in the tax context) apply to payments to employees.

    A sole trader is taxed on the profit of their trade. They can deduct from this all expenses wholly and exclusively incurred for the purposes of the trade. So, rather than a mileage rate, you keep receipts for petrol/diesel, motor running costs, car tax insurance etc and claim a portion of these as a business expense.

    As for subsistence, the cost of meals while out of the office isn't allowed (on the basis that one has to eat anyway), if work requires overnight accommodation then this cost is allowed.


  • #3
    Jamesw2
    Closed Accounts Posts: 137 ✭✭Jamesw2


    barneystinson wrote: »
    Quick answer: they're not!

    Those terms (in the tax context) apply to payments to employees.

    A sole trader is taxed on the profit of their trade. They can deduct from this all expenses wholly and exclusively incurred for the purposes of the trade. So, rather than a mileage rate, you keep receipts for petrol/diesel, motor running costs, car tax insurance etc and claim a portion of these as a business expense.

    As for subsistence, the cost of meals while out of the office isn't allowed (on the basis that one has to eat anyway), if work requires overnight accommodation then this cost is allowed.


    Thanks for your reply. Does overnight stipulation apply. Say you put in an 18 + hour day but did not stay overnight?


  • #4
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Jamesw2 wrote: »
    [/B]

    Thanks for your reply. Does overnight stipulation apply. Say you put in an 18 + hour day but did not stay overnight?

    No, if you didn't incur an expense then there is nothing to claim.


  • #5
    Jamesw2
    Closed Accounts Posts: 137 ✭✭Jamesw2


    Sorry to be a bother. The case in question is about a self employed person who works 16 to 18 hours a day away from home in an isolated area and must bring canteen items (tea,sugar,milk coffee, bread,water). Just wondering if those canteen items averaging 5.00 a day could be considered a deductible expense.


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