So hows about an intro before we start. We always ask newbies!
Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.
Pease add your first name so that it appears under the signature bar on your posts? Saves everyone looking it up each time!! (Edit profile --->signatures)
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I am a QBE, working for a private sector company. Worked in and around Finance for 20 years, doing various roles, currently look after various business functions not just finance.
I'm not looking for definitive 'formally relied upon' answers, just a sounding board for potential grey areas, to act as a point of reference on things as/when they come up.
(I recently looked at posts about depreciation of IT Hardware for instance)
Be careful what you rely on here - quite a lot is now out of date, so I wouldnt go back more than 12 months for anything tax related. Indeed probably not for Accountancy related either given the IAS/IFRS changes etc.
I always say that if you want tax information then you should look at the specific law, but in this instance Im going to start you off with HMRC manuals. Just note - HMRC give 'guidance', they are quite often wrong as they interpret the law to suit their needs, rather than accurately.
ah, I think I have thought through my own answer - of course the tax relief is only at the difference x the individuals tax rate and therefore a fraction of gross difference.
Therefore Tax Man is giving a token, but the employee is ultimately worse off?
