Company expenses
George
Registered Posts: 43 Regular contributor ⭐
A sole director pays for expenses wholly and exclusively for business purposes, from the company bank account. Is there any P11D reporting required? I'm assuming not, as there is no personal benefit derived.
Also, is this correct double entry for a mileage claim using his own vehicle, again, wholly and exclusively for business purposes, and is there no need to report it on his self assessment return?
DR: Motor Expenses
CR: DLA
Thank you for your help.:001_smile:
Also, is this correct double entry for a mileage claim using his own vehicle, again, wholly and exclusively for business purposes, and is there no need to report it on his self assessment return?
DR: Motor Expenses
CR: DLA
Thank you for your help.:001_smile:
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 259 NEW! Qualifications 2022
- 146 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 37 AAT Level 3 Diploma in Accounting
- 64 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 137 Bookkeeping
- 7.3K General accounting discussion
- 193 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership