how to deal with business expenses

hi , i am a one man recently set up private limited company - IT consultancy , i.e. a contract developer.
Goin it alone , using ROS , very handy it is.
Just a question or two someone may be able to answer :
For my out of pocket expenses like travel to and from different client sites , a meal or two with potential clients :
firstly are these tax deductable ?
secondy how do i 'deduct' them - do i pay myself my salary with these expenses deducted form the gross or does it all go 'through the company' - they werent bought on company credit card but out of my pocket as it were ?
ta for any answers.

tommo200 said:

hi , i am a one man recently set up private limited company - IT consultancy , i.e. a contract developer.
Goin it alone , using ROS , very handy it is.
Just a question or two someone may be able to answer :
For my out of pocket expenses like travel to and from different client sites , a meal or two with potential clients :
firstly are these tax deductable ?
secondy how do i 'deduct' them - do i pay myself my salary with these expenses deducted form the gross or does it all go 'through the company' - they werent bought on company credit card but out of my pocket as it were ?
ta for any answers.

Click to expand...

the above questons have been asked many times before on the board.

1. travel is deducible.
2. meal with client could be disallowed.
3. put them all on company credit card.
4. pay yourself a decent salary- have to be seem you are able to live

i would have at least one meeting with an accountant to put you on right track. do up a list of all questions/ dates you have and take them to an accountant. it would save you money in the long term.

i have seem some people on board think they are saving 1k by not using an accountant. many people down the line have missed out on thousands of deductions/ tax planning by taking the cheap option at the start.