HMRC has issued guidance on taxable expenses and benefits when they are paid to employees because of coronavirus and how to report them to HMRC. To read the full guidance on the gov.uk website, click here.
Online Course – VAT on Staff Expenses
Recovering VAT incorrectly can be costly. Over recovery is penalised by HMRC and under recovery can impact on profit margins. There are a number of issues regarding the recovery of VAT on staff expenses.
- Has VAT been correctly charged?
- Is sufficient evidence held?
- Is the cost one on which VAT is non-recoverable?
- What is the difference in VAT terms between staff and business entertaining?
- Invoices are addressed to employees so can the VAT still be claim?
- The cost is non-deductible for direct tax so can VAT be claimed?
Our course will provide you with a working understanding of the VAT treatment of staff expenses.