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Level 2

Car parking receipts - a legitimate expense

I have correctly assigned car parking receipts to 'car, van and travel' expenses, Box 20.  But my self-assessment summary shows them as disallowable, which is wrong.  And i can't see how to change it.  Can anyone help?

Solved
Best answer 06-21-2019

Accepted Solutions
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QuickBooks Team

Car parking receipts - a legitimate expense

Hello there, @Mon-Gella.

 

I can add more details about your parking ticket.

 

In QuickBooks Self-Employed, we follow the simplified expense method. As mentioned by my colleague above, this calculates the allowable business expense for your car, van, or motorcycle.

 

In addition, when you categorize your parking ticket under Car/Van Expenses, you won't be able to claim your allowable expenses.

 

Thus, if you want to claim a deduction from your parking ticket, you may categorize it under Travel Expenses.

 

Also, I still recommend contacting an accountant to help you correctly categorizing your parking ticket.

 

You can refer to this article for a detailed explanation on simplified expenses: Simplified Expenses if You're Self-Employed.

 

Please know that you can always get back to us if you have any other questions or concerns.

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Highlighted
Level 2

Car parking receipts - a legitimate expense

Thank you all - i've re-categorised my parking costs as Travel Expenses and this has sorted the problem.

Many thanks

View solution in original post

7 REPLIES 7
Highlighted
QuickBooks Team

Car parking receipts - a legitimate expense


Hello Mon-Gella,

 

Do you have the mileage tracker turned on?

 

Thanks,

 

Talia

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Level 2

Car parking receipts - a legitimate expense

Hi Talia. No.  I never have used the tracker, because my work miles are far fewer than my personal miles.  Anyway, this is about car parking receipts, not mileage, so i don't see the connection.....?

Highlighted
QuickBooks Team

Car parking receipts - a legitimate expense

Hello there, @Mon-Gella.

 

Car-related expenses such as fuel, toll, and parking fees may be categorized under car, van and travel expenses (Box 20). Let me provide you with details on how QuickBooks handles these type of expenses.

 

QuickBooks Self-Employed uses simplified expense method to calculate the allowable business expense for your car, van, or motorcycle. However, the rate is still base on the total mileage you drive not on the actual expenses. Once you generate reports for this type of transactions it will be listed under disallowable. For more detailed information, you may check this article: About car, van, and travel expenses.

 

I'd also recommend consulting with your accountant for you to be guided properly on the best route to take in categorizing your income and expenses.

 

Also, I have here these articles for additional insights:

You can always visit us here in the Community if you have other questions. I'm always here to help.

Highlighted
Level 2

Car parking receipts - a legitimate expense

Hi and thanks for your reply.

 

but I have no intention of paying an accountant to confirm what I already know - that I am allowed to claim a legitimate expense of a car park fee when travelling for business. The bigger issue here is perhaps that Quickbooks Is unable able to cope with correctly categorising a parking ticket. Are you saying there is no solution to this? I.e that I’m unable to get this moved to allowable?  Many thanks 

Highlighted
QuickBooks Team

Car parking receipts - a legitimate expense

Hello there, @Mon-Gella.

 

I can add more details about your parking ticket.

 

In QuickBooks Self-Employed, we follow the simplified expense method. As mentioned by my colleague above, this calculates the allowable business expense for your car, van, or motorcycle.

 

In addition, when you categorize your parking ticket under Car/Van Expenses, you won't be able to claim your allowable expenses.

 

Thus, if you want to claim a deduction from your parking ticket, you may categorize it under Travel Expenses.

 

Also, I still recommend contacting an accountant to help you correctly categorizing your parking ticket.

 

You can refer to this article for a detailed explanation on simplified expenses: Simplified Expenses if You're Self-Employed.

 

Please know that you can always get back to us if you have any other questions or concerns.

View solution in original post

Highlighted
Level 2

Car parking receipts - a legitimate expense

Thank you all - i've re-categorised my parking costs as Travel Expenses and this has sorted the problem.

Many thanks

View solution in original post

Highlighted
QuickBooks Team

Car parking receipts - a legitimate expense

Great, glad the recatogorising solved the problem,any other questions feel free to reach out to us here at the CommunitySmiley Happy

Emma