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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 10270
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👋, which? i don’t think so

This answer was rated:

Hey Pearl 👋
JA: Have you talked to a tax professional about this?
Customer: which?
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: i don’t think so
Customer: replied 1 month ago.
Hey there tax professional, this app is amazing. I am starting off as a self employed courier next week and I’m obviously planning on doing lots of miles, is it true they are tax deductible?
Customer: replied 1 month ago.
would my insurance be TD also?

Yes at 45p per mile, 25p over 10000 miles, is tax free in your hands. This sum is calculated to recover both capital and running costs of your vehicle and is thus simple to use which is why so many people utilise it.

Customer: replied 1 month ago.
my insurance? What if my tax exemptions equal more than the amount of tax due?

As I said the 45p rate is computed to cover all capital and running costs.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 month ago.
Ah apologies, thank you!

Pleased to have been of assistance.

Customer: replied 1 month ago.
Hey. I have recently been paid out on a life insurance cover so I have some money to invest. My parents live in a council house and have done for 40+ years.
What would an accountants pov be to me say giving my parents the money to buy the house at a reduced amount and then selling up after they’re finished with it, is this legal?

I am sorry this is an entirely different subject and should be the basis for another question.

Customer: replied 1 month ago.
Apologies sir

No problem.