News & Views from MyExpensesOnline

Sorting Out the Petty Cash!

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... Read more

P11D Submission Deadline Approaching

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... Read more

Mileage Calculations for Electric & Hybrid Cars

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... Read more

Help to Reduce Employee Travel Expenses

Top Tips from the team at MyExpensesOnline, on how to save money on travel expenses.   1.       Ensure there is a written travel policy for all employees, establishing rules and limits on expenses which can be reimbursed. Then make sure the policy is enfo... Read more

HMRC Changes to Advisory Fuel Rates – June 2017

HMRC have made changes to advisory fuel rates. These rates are reviewed quarterly, and only apply to employees using a company car if:   ·         You reimburse employees for business travel ·         O... Read more