Claiming subsistence as an expense?
Question asked by Samaira Pervaiz 10 years ago
Hi,
Can I claim food as an expense from my limited company? if so how much?
Thanks
Hi Samaira
As Kevin indicates this is a huge subject. If you are out travelling then the general rule is that if the travel cost itself must be allowable before any related subsistence can then be considered.
Best to have a scan down HMRC manuals on: http://www.hmrc.gov.uk/manuals/eimanual/eim31800.htm and in particular the section on accommodation & subsistence, in which there are some examples as well as the rules.
Hope that helps
Best answer
Reclaimed
Hi I'm explaining expenses from my bank statement and I don't know if my subsistence expenses I should be adding them as subsistence or as rechargeable expenses... I think ClearBooks calls them reclaimed expenses. Are reclaimed expenses something unrelated?
I will be recharging the client for such expenses but I want to make sure I use the right "account!" type... subsistence or reclaimed expenses...
Thank you!
Hi
There's nowhere near enough info provided to go on I'm afraid. There are specific rules surrounding travel related costs.
Probably one for your accountant as opposed to Clear Books themselves. Alternatively, if you hit Google you should be able to bring up the HMRC guidance to get you started.
Waiting for your response Shaz. Thank you!
Hi Samaira,
I will need to ask our consultant accountant to find out the exact amount that can be claimed as subsistence expense by a limited company. Please bare with me in the mean time.
Thanks,
Shaz
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