Your obligations for reporting travel expenses.
Many employees need to travel as part of their job for various reasons, whether it’s acquiring new customers, working with current ones or attending conferences and events.
The system of benefits and taxation surrounding this essential economic activity is classed as ‘travel and subsistence’ in the eyes of the taxman.
This involves a business reimbursing its employees, directors or partners for meals, accommodation or other general expenses, and claiming back tax where there is a valid receipt. (more…)