Claim business travel expenses and save tax

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Claim business travel & holiday costs to save tax

Watch the video here    • Claim business travel expenses and sa...  

Save money on flights, hotels and cars: https://www.skyscanner.net/

Read here for more:
1. Expenses and benefits: https://www.gov.uk/employer-reporting...
2. Expenses and benefits: cash sum payments to employees: https://www.gov.uk/expenses-and-benef...

In this video you will learn from Simon Misiewicz, your Finance & Tax Director

▶ How you can legitimately claim your holiday/vacation expenses against your business income to save tax
▶ Understand what criteria toy must meet to claim your holiday costs as an expense to comply with the rules set by HMRC
▶ See what items from the HMRC category of travel and subsistence you can identify and use to reduce your business taxable profits
▶ Make the most of your business meetings, training courses and go on holiday at the same time
▶ HMRC allows travel costs such as flights, trains, taxis and buses provided that they are for business purposes. The fact that you spend extra time on holiday at that destination does not prevent the costs from being classed as a cost to the business.
▶ Accommodation costs are allowed the day before, the day of the event and the day after. Any of these costs to do with te business event will be allowed for tax purposes. Anything outside of these days will be a personal expense. That said you would have benefitted from cheap flights and accommodation as part of your holiday
▶ Meals and other subsistence costs are allowed to be written off against your business taxable profits. This means that you can expense a reasonable amount of your meals against your business taxable profits.
▶ HMRC uses the phrase Wholly, Exclusively and Necessary. Any training or meetings that you have will meet this condition. Why not make good use of this opportunity to spend a holiday site seeing the place you have a meeting
▶ Why not reduce the costs of your flights, hotel accommodation and car hire with the use of Sky Scanner. This website is a great place for you to compare the costs of flights be it Virgin Airways, American Airlines, British Airways, and other top branded companies and save yourself money, whilst saving tax.
▶ You can use Sky Scanner to compare the price of hotels in the city of your business training or meetings. There are many top brands from Holiday Inn, Raddison Blu, Savoy, Crowne Plaza, The Ritz, Four Seasons. You ought to look after the pennies by booking luxury hotel rooms that have been discounted using Sy Scanner.
▶ Sky Scanner can also save you car hire costs by comparing the costs of Alamo, Avis, Enterprise Rent A Car.
▶ This video will not only show you ways to save money, to claim holidays as a business expense but it will also help you save a lot of tax from the clutches of HMRC

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Book a Finance & Tax consultation with Simon Misiewicz. Use the coupon code “YouTube25” to get the 25% discount

Book your tax call now call: https://app.acuityscheduling.com/sche...

The tax support will take the form of:

1.You book the Finance & Tax Director call and upload your questions with relevant documentation
2.Simon will spend up to 60 minutes to go through your situation and identify the very best solution
3.You and Simon will then spend the 60 minutes call to discuss which solution works for you best and to work out the practical application
4.Simon will leave the call and spend up to another 60 minutes to write up the notes and to do further research
5.Simon will provide additional 15 minutes email support to deal with any clarification questions that you may have

Book your Finance & Tax call now call: https://app.acuityscheduling.com/sche...