Posted: Mon Apr 21, 2008 9:42 pm
Rev Fred wrote:Doesn't work that way!
There are 4, (soon to be 5) partners in the firm, and once a year one partner gets a new vehicle, and in that same year all the partners rack up insurance, tax and petrol costs. All the costs are added up, and simply deducted from the turnover as an expense. As such, all the partners effectively pay an equal amount each year.
Therefore, to make this system work for me, rather than against me, I need to spend the same as the others.
man, i'm no accountant but i not so sure i'd want the tax man to know that.