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Have you ever thought of initiating an expenses and benefits review? What better time of year than now to work through this helpful step by step process:
Are you sure there are not any items on your expenses claim that are taxable? It is important to be certain that everything is a qualifying business expense, so making it a complete must that you need to carry out your job role with any private use prohibited?
Are all of your expense claims sufficiently detailed for you to back up your yes to step one?
Do you have someone completely accountable for monitoring and updating all expenses and benefits policies each year to ensure they’re legally compliant?
If these steps have left you questioning what HMRC would make of your policies and processes then take a detailed review of your claims to be sure they are all allowable.
Good tax advice in a friendly and professional manner.
Compressed Air Services Limited