Has anyone any experience of the SITE ( Savings In Taxe from Expenses) scheme?
It's not the same as the Salary Sacrifice schene but despite Googling I can't seem to find any information.
Thanks
Pat
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Anything helpful here?
tinyurl.com/lgt8ww
Last edited by: Old Navy on Sun 6 Mar 11 at 09:22
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Not really ON, but thanks anyway.
I suppose it was a bit of a loaded question so here is what I know so far, which may or may not be correct.
It is a scheme being promoted to Haulage firms across the UK where drivers 'convert' a set amount of their wages to expenses on a contractual basis.
The saving in tax and NIC is then paid as expenses and is supposed to increase you net wages.
It is also HMRC approved under the terms of dispensation, I'm told.
Pat
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I don't know the employers motivation or details but it sounds like the thin edge of the wedge for self employed drivers. It would at least save the employers the admin costs.
Last edited by: Old Navy on Sun 6 Mar 11 at 09:41
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I wonder if it's similar to umbrella company schemes - which I don't really understand, but one or two on here do.
www.smarttaxuk.com/
Last edited by: Iffy on Sun 6 Mar 11 at 09:43
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I'd be very interested in that Pat as would many other full/old timers, as you know we've had certain expenses over the years which, depending on your local tax office, were viewed reasonably or not.
ISTR Wellinbgrough tax office and i came to a reasonable allowance of some £200, 25 or so years ago...since then my tax has been handled by different offices not so fair minded.
MP's don't take too much persuding to claim theirs entitlements (and then some), we should have taken a leaf out of their book years ago, instead of just accepting such as part of the job.
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>> MP's don't take too much persuading to claim theirs entitlements (and then some), we should have taken a leaf out of their book years ago, instead of just accepting such
>> as part of the job.
>>
With the increasing number of computer literate pensioners who are not "Too proud" to claim the benefits they are entitled to its not surprising that the government is complaining that we are an expensive group.
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Thanks for the links, I've read through them all quickly but will go into them in depth in the morning.
I was hoping for a considered view from Mapmaker as well, as much as we never seem to see eye to eye, it's his specialist subject, I think:)
Pat
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I'm not "too proud" - I'm positively EAGER to claim every penny I can.
According to the on-line calculator helpfully provided by our local council, we will be eligible for some council tax relief, based on income.
As soon as our house purchase is complete, I'll be down that claiming route quicker than a terrier down a rabbit warren!
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SITE - Old Navy
