Yes, on reflection I agree the £5 is tight. I did always think it was a bit unrealistic but I just plucked that figure from HMRC's scale rates though. Although it seems I misunderstood that too as you have confirmed it is just for incidentals.
Thanks for taking time to reply, I intend to put a policy in place. With some more generous limits :)
I am not a business owner, I work as a Financial Controller.
I thought the purpose of this forum was to ask any questions Accountancy related.
Apologies if I misunderstood.
I was comparing HMRC's £5 scale rate to the £17 per person we are paying out on this expense.
Or doesn't it matter if they get a Greggs meal deal or a 3 course slap up lunch in a Michelin star restaurant?
Surely there comes a point where it comes rise to a BIK ?
yeah, I definitely need to get out more - I get told that a lot !
Thanks - yeah I agree with that.
When it comes to processing the Staff expenses form for their LI sub do I reverse charge the total amount the employee incurred (inc the 20% VAT) or treat as an exempt supply?
I assume B2B is reverse charge and B2C is MOSS.
We are going to reimburse the employee the full amount they incurred (inc the 20% VAT)
I am just wondering from the company's PoV... do I reverse charge the full amount (inc VAT) or treat as an exempt supply ?
Thanks! do I still reverse charge the gross amount though... or do I treat it as a supply from the employee (UK non VAT registered) and an exempt supply?
My answers
thanks, still not clear then
Yes, on reflection I agree the £5 is tight. I did always think it was a bit unrealistic but I just plucked that figure from HMRC's scale rates though. Although it seems I misunderstood that too as you have confirmed it is just for incidentals.
Thanks for taking time to reply, I intend to put a policy in place. With some more generous limits :)
Thanks Paul.
No policies currently in place. Something I need to have think about.
Just investigating if we should have a policy in place to prevent any potential BIK's rising. Seeing what policies other companies have in place.
We don't have a dedicated HR dept as such.
Seems from paul.benny reply that I am worrying about nothing.
Thanks for the input all.
I am not a business owner, I work as a Financial Controller.
I thought the purpose of this forum was to ask any questions Accountancy related.
Apologies if I misunderstood.
wow - I'm getting pelters here !
I was comparing HMRC's £5 scale rate to the £17 per person we are paying out on this expense.
Or doesn't it matter if they get a Greggs meal deal or a 3 course slap up lunch in a Michelin star restaurant?
Surely there comes a point where it comes rise to a BIK ?
yeah, I definitely need to get out more - I get told that a lot !
Thanks - yeah I agree with that.
When it comes to processing the Staff expenses form for their LI sub do I reverse charge the total amount the employee incurred (inc the 20% VAT) or treat as an exempt supply?
I assume B2B is reverse charge and B2C is MOSS.
We are going to reimburse the employee the full amount they incurred (inc the 20% VAT)
I am just wondering from the company's PoV... do I reverse charge the full amount (inc VAT) or treat as an exempt supply ?
VAT No is: IE9740425P
We want to keep the sub in the employees name, rather than the Companies (don't ask me why!)
Thanks! do I still reverse charge the gross amount though... or do I treat it as a supply from the employee (UK non VAT registered) and an exempt supply?