Travel Insurance as a company expense

[Platypus]

My role requires quite a bit of travel (about a dozen flights so far this year) and so every year I take out a worldwide travel insurance policy which covers this (business travel specifically selected) plus my one personal holiday. It costs ~£100

It occurred to me today that this is most likely a legitimate business expense so I propose to claim it.

Has anyone else done this? What did your accountant say?

Just asking.... not trying to start up a whole new trollish thread on claiming jewellery, plasma tellies and Caribbean holidays as expenses!

Yes, of course I'll ask my accountant but I thought I'd ask you folks first !

[Sockpuppet]

I've claimed it accountant are fine with it. I got a years travel insurance that included business travel. Also went on a private holiday and didn't buy any more.

[Platypus]

I've claimed it accountant are fine with it. I got a years travel insurance that included business travel. Also went on a private holiday and didn't buy any more.

Ta! Many thanks!

[northernladuk]

Does selecting the business option incur extra cost. If not I would say you can't claim as it is an option on your personal one and clear duality and not 'wholly and exclusively.

If the business adds extra cost then I would claim that extra cost.

Regardless of whether you can claim or not for the 100 quid or so it costs it is pretty irrelevant and if found won't cause a headache but on the flipside you are only saving 20% of it so whether to claim or not is totally your decision IMO.

[Sockpuppet]

Though worth saying like you i did a lot of business travelling that year. This year I've done none so I've not bought any and haven't claimed it.

[Clare@InTouch]

You could argue it either way.

If you use it personally then it's a personal cost and the incremental cost of using it for business is zero, so you shouldn't claim anything.

If you need it for business but used it once personally then the value of the benefit in kind is zero because there's no incremental cost.

For £100 I doubt there would be much of an argument as long as you needed it for the business side of things.

[Platypus]

If you need it for business but used it once personally then the value of the benefit in kind is zero because there's no incremental cost.

It's this ^

19 business trips and the policy costs £100
20 trips (19 business and one personal) still costs £100

[northernladuk]

It's this ^

19 business trips and the policy costs £100
20 trips (19 business and one personal) still costs £100

If we wanted to get in to technicalities just having it available for personal use should incur BiK as per the example of a company car sitting on your drive surely

[Jessica@WhiteFieldTax]

As Clare said, there is no hard and fast rule.

So long as you could make a convincing case for it in the unlikely event HMRC queried it, then fine. Its not big beans so no one will get too stressed. Worst case HMRC knock you back.

[Platypus]

If we wanted to get in to technicalities just having it available for personal use should incur BiK as per the example of a company car sitting on your drive surely

Bah! Away with you!