Holiday expenses through company

[contractor79]

Do you put holiday expenses through company?

Train fares, taxi, aeroplane fares, hotels... or is that really taking the p@ss too much

Could the taxman believe you were going on a business trip for discuss with potential clients?

[malvolio]

Ermm... No

Shareholders hold meetings once a year though
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[contractor79]

who's gonna find out if you are going there to sunbathe or discuss contracts?

[Jubber]

I said to my accountant

"With this year's profits, can I hold my shareholder's meeting on a nice island somewhere?"

He said "Sure, with your profits, pick one of these , Sheppey, Wight or Chiswick Eyot."

<diddle-dee dum - Tish !> <takes a bow>

(old ones are the best)

[fixedpriceaccountant]

Strictly speaking..

No this kind of expense should never be put through the business! Expenses should be wholly and exclusively incurred on business costs.

That being said, these kinds of expenses do get lost in with other transactions frequently by all clients. The truth is that unless every transaction is being checked (like an audit) it would be nigh on impossible to find them all!

Also, I have personally dealt with a client who genuinely held their board meeting in Tenerife. We sought revenue advice and they confirmed that a portion of the expenses that could be justified as being for the board meeting whilst abroad could be tax allowable.

A very sticky topic though with the powers that be!

[handyandy]

or maybe even ... Dogs

Just 'cos MP's can claim aything on expenses why would you think anyone else can.

[Weltchy]

Only thing you can get away with is the annual £150 per person for employee & guest (£300) which is allocated for the annual company shindig.

Other than that, trying to claim £1000 expense for a week in a Sandals resort may result in gordon's cronies paying a visit in the early hours of the morning!!!

[FiveTimes]

Shareholders hold meetings once a year though

Only thing you can get away with is the annual £150 per person for employee & guest (£300) which is allocated for the annual company shindig.

Is there a difference between shareholders meetings once a year and the annual shindig ? Also is it £150/person - I was advised it was £150 total.

[Hex]

per person

[aceboy]

I had heard that you could set up an incentive scheme, so basically the company reward the highest revenue generator with an annual trip......not sure the validity of this though, as it was just something I heard