Send in all genuine business expenses to increase your take home pay

Transcription

1 Expenses Guide

2 Expenses Contents Please find a list of possible business expenses you may incur when working on Assignments: Daily Subsistence - 3 Mileage Allowance - 4 Public Transport - 5 Send in all genuine business expenses to increase your take home pay Accommodation - 6 Memberships and Training - 7 Administration and Miscellaneous - 8 Rules and Guidance - 9

3 Offset the cost of your food and drink whilst at work Daily Subsistence A subsistence allowance can be claimed if you are working at a temporary workplace. Up to 10 a day for lunch Up to 15 for breakfast and evening meal if working away from your property Employees are responsible for obtaining receipts for these meals. The receipts must be for the amount spent and must be purchased on the day you are claiming for. Only food and drink consumed at work or when you are staying away from home can be claimed for. The receipts need to be sent to MyPay with your expense sheet and you must work at least 5 miles away from your permanent residence in order to claim daily subsistence.

4 Up to 45p per Offset mile the for cost all of Business your food mileage and drink whilst at work Mileage Allowance Mileage costs for travel to and from your temporary workplace can be claimed in accordance with the HMRC guidelines: Type of vehicle First 10,000 business miles After 10,000 business miles Bicycle 25 pence per mile 20 pence per mile Motor Bicycle 24 pence per mile 20 pence per mile Motor Car 45 pence per mile 25 pence per mile All employees claiming mileage must obtain VAT receipts for their fuel and submit these with their expense claim. When claiming mileage employees must put the post codes of their home, temporary workplace and accommodation (if any) onto the MyPay expenses form, so that all mileage claims can be checked for accuracy.

5 Public Transport If you are incurring any public transport costs during your commute to and from work, you can offset these costs in full. This will include : Taxi Fares Bus Train Oyster Cards Airplane tickets Car Parking and Toll roads If your commute includes the cost for parking or for toll roads/ congestion charge then simply send in the receipt and MyPay will offset this expense. Car Rental The price of car rental can be offset, you will need to send in a receipt showing the payment. Your mileage allowance is reduced when you have a rental car, as you do not incur the running costs associated with car ownership. Full cost of all public transport used for Business offset against your tax and national insurance

6 Making staying away more affordable Accommodation Hotel and Bed and Breakfast If you have to stay away from home to perform your business duties then you can claim up to the maximum amounts listed in the table below for staying in hotels. Receipts need to be obtained for your hotel bills and sent to MyPay with your expense sheet. Inside M25 Outside M25 Up to 110 per night Up to 90 per night Rented Accommodation If you rent additional accommodation in order to perform your business duties then MyPay can offset this expense, subject to production of your rental agreement and HMRC Dual Purpose regulations. Rent a Room If you rent a room at a friends or family or private arrangement in order to perform your business duties then MyPay can offset this expense up to an amount of 25 per night. You will need to fill in the MyPay rent a room form with the details, this will be provided to you on request by your Account Manager. Incidental Overnight Expenses If you are staying away from home overnight you can claim up to 5 per night in the UK and 10 abroad in incidental expenses without receipts. This is to cover the costs of items such as toiletries, telephone calls, newspapers etc.

7 A cost effective way to enhance your career Professional Memberships Subscriptions to some professional organisations can be claimed. The list of HMRC recognised organisations can be found on All claims must be accompanied by receipts. Training Courses Training courses that are directly related to your role or to enhance your career can be offset as a business expense. It is always worth checking with your Account Manager before purchase.

8 If you are unsure if something is a business expense, ask your Account Manager Office Stationery Office stationery (e.g. envelopes, stamps) used wholly for business purposes can be claimed if accompanied by receipts. Eyesight Tests Employees who use visual display equipment as part of their business duties may claim up to 15 per annum for an eye sight test. Claims must be accompanied by receipts. Work Clothing As an employee you can claim for work clothing that you need to buy to do the job. These need to be either a Uniform, which displays the name/ logo of the company you work for, or a safety item e.g. Steel toe-cap boots for construction workers. Telephone calls Claims may be made for telephone calls (but not rental) made while performing your business duties. These claims must be accompanied with an itemised phone bill highlighting the business calls.

9 Billable Expenses From time to time you may have expenses which are paid to you from the agency/ end client. These are referred to as billable expenses as they will be billed for on top of your hourly/ daily rate and actually increase the amount of money we receive in. It is important to include any of these on the expenses form under the section marked billable expenses (paid by agency/ end client). By doing this it will enable MyPay to give you tax and national insurance relief on these expenses. Where you are receiving billable expenses for mileage, if they are not paying 45p per mile then MyPay will be able to give you tax relief on the reminder. For example if you are receiving 30p per mile billable, MyPay can give 45p per mile tax relief so 15p above the rate you are receiving. MyPay will do this using the information you put on the expenses form under number of miles driven and the amount of billable expenses for miles received. Be sure to claim all your billable expenses

10 Rules and Guidance Employees must submit expense claims weekly/ monthly using the company s expense claim spreadsheet. Only expenses that have been incurred wholly, exclusively and necessarily as part of your business duties can be claimed. MyPay will ensure you are kept up to date with any changes, so you can be sure you are receiving the maximum benefit If you are in any doubt whether an expense is allowable please contact your Account Manager. 24 Month Rule Note: expenses cannot be claimed when you have worked, or know you will be working, at the same temporary workplace location for over 24 months. MyTip: Ensure you claim all genuine business expenses to increase your take home pay

11 talk to us If you would like more information please get in touch Tel: Visit: mypay.uk.com