Expenses Explained - Healthcare sector Ltd. company tax expenses explained. Finance Professionals - UK's leading Healthcare Limited Company & Payroll solution

Expenses Explained

The following are all valid claimable expenses:

Travel

These will be the costs of any train or bus fares incurred if you don't use your car to travel to your place of work. You may also claim the cost small hand tools, health and safety equipment etc.

Train / Tube / Bus

You will need to submit receipts for the travel documents or the weekly / monthly travel card together with a copy of the relevant Transport ID card. Please note that a single travel ticket cannot be allowed without the valid receipt. All receipts must be from the relevant travel authority, as credit card receipts are not allowed.

Mileage

Your claim for mileage will be calculated based on the following Inland Revenue’s Authorised Mileage Rates:

Cars and Vans

Taxi

A valid receipt from the driver will be required.

You will only get tax relief where travel expenses are necessarily incurred on travelling in the performance of your duties of employment.

You cannot claim travel between your home and a place that is not your workplace.

You are also allowed a flat £5 per night subsistence allowance where you work away from home.

This is £10 per night if you work overseas. The allowance is to cover incidentals such as newspapers, snacks, laundry and personal phone calls.

Accommodation

If you stay overnight in a hotel or B&B only the cost of the room and breakfast may be claimed.
Professional subscriptions and courses
These are allowable expenses provided that they are incurred wholly, exclusively and necessarily in the performance of your duties. For example a golf club subscription is not allowed, nor is a language course. In other words, they have to be relevant to your job.

Non-claimable Expenses
The following are examples of non-claimable expenses:

• Flights abroad
• Meals
• Entertainment
• Property/Capital items
• Clothing
• Dry cleaning
• Utility bills
• Rent and Mortgage
• Personal hygiene products
• Childcare/Baby-sitters
• Excessive business expenses
• The weekly salary and administration deduction

DISCLAIMER

This is only a guide and does not constitute a legal undertaking. FINANCE PROFESSIONALS cannot accept any liability resulting from loss or damages from the information contained herein and reserve the right to refuse claims should it deem necessary. In no way should the text contained herein be interpreted as a “right to claim” the expenses. This is an additional service offered by FINANCE PROFESSIONALS and is subject to withdrawal without notice.