Is Your Expenses Policy Simply for Show? 13 July 2017 Administrator (0) Having an effective expenses policy for all employees, can really help to control claims and give clear guidelines on the processes which need to be adhered to. Unfortunately, as is often the case, the expense policy is filed away and either becomes unenforceable or employees are una... [More]
Sorting Out the Petty Cash! 28 June 2017 Administrator (0) According to Experian, mismanagement of petty cash costs UK businesses £1.8 billion every year! Statistics show that 43% say the biggest problem with petty cash is misplaced receipts, and 12% said that the procedures within their company to deal with these smaller expenses was far to... [More]
Is Lunch a Business Expense? 28 June 2017 Administrator (0) Claiming lunch as a business expense is one of those areas that many are unsure aboutHere at MEO, we want to help clear the misunderstanding and provide clear direction to what’s allowed and what’s not! So, what are the rules on lunch? The basic rule which HMRC follow is “eat to live”. In othe... [More]
P11D Submission Deadline Approaching 20 June 2017 Administrator (0) P11D forms report expenses and benefits given to employees and directors through the tax year. The deadline for reporting for year ending 5th April 2017 is 6th July 2017. You must also tell HMRC the total amount of Class 1A national insurance contributions you owe by this date (using P11D(b... [More]
Mileage Calculations for Electric & Hybrid Cars 13 June 2017 Administrator (0) The approved mileage allowance rate is paid when an employee uses their own car for business purposes, and is designed to include the cost of running the car (not just the fuel). For company’s which provide their employees with a car, the advisory fuel rates are applied to reimburse for the fuel... [More]