ahem.. tax relief?

[beej]

no names no pack drill, has anybody managed to get a track day or corporate day against tax as a training event or team building exercise? There must be plenty of self employed types out there, or even tax specialists?

I solemnly swear I do not work for the IR.

tax relief would knock a big hole in the 800(ish) smackeroonies Mr Palmer would like for me to go and play with his toys.

cheers

[getcarter]

Hey - I need to drive musicians to recording studios in my job, OF COURSE I'm going to claim advanced driving as a legit tax relief.

Ergo: I've never killed a musician yet (there are a few in my sights though).

(and it was with Mr Palmer)


>> Edited by getcarter on Wednesday 28th January 14:52

[beej]

Aha... I see. Yep, I have to drive to clients all over the place. An advanced driving course is exactly what I need in the interests of health and safety. I wonder what it says on the receipt?

[iguana]

Ahh Mr Carter, did i tell you that I was a world renowned Amazonian nose flute player. Oh yes been at it 30 yrs man & boy, might need a nice little palmer sport day so you can swing it for me to record for you

Would it help if I said pretty please

[Graham]

Well i drive company vehicles so I had Health and saftey Risk assesment on the use of company Vehicles done ( Handy to have a mate in H&S consultancy)

One of the things the risk assesment recommended was an advanced driving course should be taken every year...


Seems perfectly fair to me...

[Martin A]

As an advanced driving instructor I need to keep myself up to standard. Regular track days, racing and rallying, as far as I understand are all CPD and therefore business expenses as is my Ginetta G4.

[ehasler]

If you are going to do this, just be prepared for the tax man to come back for his share at a later date. They are pretty clued up on this, and generally see it as a director's perk and not an allowable expense.

[GarryM]

You might choose to only put a proportion of the cost down as an expense thereby accepting that some of the cost was "entertainment" as opposed to "promotion" - that is if you are paying for a group of people on a corporate day. I would think the Revenue would still look more favourably at this approach even if it was just advanced driving training for you. Being seen to be "reasonable" will help enormously if you are asked to justify the expense at a later date. The fact that it is a 90/10 split is beside the point! Just my 2p.

[CraigAlsop]

Good luck beej - the day is fantastic fun! - I've got myself booked in there 6th April.
Changes for 2004 include an extra session of the Jaguar Palmers where the Evos used to be (replaces karts) & the Evos now have a gravel stage.