soon to be the only driver in my ltd co and was wondering above and beyond my wage what can i pay myself i.e.
night out
meal allowance
any more and what amounts please
many thanks
Not being funny BUT if its your own Co can you not pay yourself wot ou want !
Our night out money is £30 , and that includes meal expense.
obviously parking etc is seperate
You need to check with the Revenue what the current maximum is for unreceipted expenses is. This varies around the country but obviously you should be paying yourself the max to save tax.
In fact I would have thought your accountant would tell you this stuff as part of their service.
jc69817:
soon to be the only driver in my ltd co and was wondering above and beyond my wage what can i pay myself i.e.night out
meal allowanceany more and what amounts please
Meal allowance? Well evening meal allowance is usually lumped in with your Night out allowance. Approx £23.50 is the recognised maximum , without the need to pay tax on it.
Daily meal allowance is in the region of £5 per day.
Mileage allowance is £0.40 per mile, using no receipts but keeping accurate daily mileage logs. (£0.25 per mile after 10,000 miles).
Any work wear, PPE., cleaning costs. Stationary.
Stobarts pay £12.15 meal allowance daily. Theres also a £5 daily bonus for paperwork etc. We also get all parking paid for. Im not sure of the tax laws but it seems quite a high allowance
The uk night out is £20 and euro is £27