Value of expenses when staying away on business?

Aquamania

InsideInsurance wrote: »

That seems rather intimate knowledge of him?...

Not really. As a man who has been in the media spotlight for quite a period of time doing interviews, often posting blogs, tweets, etc and previously even posted on this site, it's all out there in the public domain

Him selling this website for an amount that makes most lottery payouts look paltry, not giving away any of that hard-earned money away unnecessarily, etc.

http://www.thejc.com/lifestyle/the-simon-round-interview/80586/martin-lewis-money-expert-who-can-save-anything-except-kos

InsideInsurance

Aquamania wrote: »

Not really. As a man who has been in the media spotlight for quite a period of time doing interviews, often posting blogs, tweets, etc and previously even posted on this site, it's all out there in the public domain

So post to any of this mass of information about him which says which hotels he stays in and which restaurants he eats at. Obviously we are talking about the real ones and not the elements that are just part of the PR circus that is orchestrated around him.

Opinion

Aquamania wrote: »

As a Serious MoneySaving Fan, I would urge you to review your extravagant spending.

You don't have to stay in the Ibis and eat a Big Mac Meal if you don't want to (but I have done so in the past), but throwing your money around like some kind of multi-millionaire is not really moneysaving.

Ask MSE Martin. He's got a few million I understand (about 80 in fact before he gave some of it away) but I don't think he spends £100s on a gourmet meal or stays in 5 star hotels when he is out & about on business (though I do hear he prefers to take a taxi rather than the bus)

A £100 meal = "multi-millionaire"?! I've been taken for dinner by a couple of our suppliers and they have never suggested Pizza Hut, McDonalds, KFC or a sandwich from Tesco's. We spend £3,000+ per week with them- I don't think a steak and a bottle of wine is over the top, though apparently we would be in millionaire territory.

If I was meeting with a client to discuss and seal a £1,000,000.00 contract I certainly wouldn't take them to Burger King. That's not realistic.

Pennywise

Opinion wrote: »

A £100 meal = "multi-millionaire"?! I've been taken for dinner by a couple of our suppliers and they have never suggested Pizza Hut, McDonalds, KFC or a sandwich from Tesco's. We spend £3,000+ per week with them- I don't think a steak and a bottle of wine is over the top, though apparently we would be in millionaire territory.

If I was meeting with a client to discuss and seal a £1,000,000.00 contract I certainly wouldn't take them to Burger King. That's not realistic.

That's all fine, but none of that is tax allowable as it's business entertaining on which you get no tax relief.

This thread is about subsistence for the director himself, so completely different.

Aquamania

Opinion wrote: »

I've been taken for dinner by a couple of our suppliers and they have never suggested Pizza Hut, McDonalds, KFC or a sandwich from Tesco's. ....

So you weren't paying; you were being entertained at the expense of another party.

Entirely different situation. Please try to keep on topic

As Pennywise says, such entertainment is not tax deductable (not even the VAT); neither for the paying party, nor the person who receives it

purdyoaten

sinizterguy wrote: »

Spending a hundred pounds on a gourmet meal, staying in a five star hotel and flying or taking the train in first class are all fine.

HMRC cannot tell you where to spend your money and how. As long as it is wholly for the purpose of business.

If you work for someone other than yourself, then they set the policy and you follow it.

Please don't present drivel as fact.

I have done all of the above. I have had my tax return looked at by HMRC for an unrelated matter and they couldn't have cared less where I ate, or which hotel I stayed in. Or how I got there.

It would appear that, as it was YOUR tax return that HMRC 'looked at', you may not be a director of your own Ltd Company, as in the case of the op, but a sole trader. After all, as a director, the aforementioned expenses would have been included in the limited company accounts and would have little relevance to you personal return other than from the entries on a P11D.

The much stricter criteria which is applied to employee expenditure as oulined by an pennywise would apply in this case i.e. not just wholly but exclusively and necessarily. I too have over thirty years experience of this from both inside and outside HMRC and I certainly do not regard her as wrong - totally!

On another point, there is a perception that, because HMRC has not investigated a return it has automatically 'passed' and that everything therein is completely correct. It is almost as if HMRC cannot , when they investigate a return in the future, go back over previous returns almost as far as they feel like!

If only!

IDN101

Many thanks for all the input guys.

The values I am talking about is £170 for 3 nights in a Premier Inn and (say) £20ish per day for breakfast, lunch and dinner. And YES- it may include McDonalds- as someone rightfully pointed out- at the end of day- it's coming out of my income! I'll save the "fancy"'dining for when I'm with my family- when I'm on business I just want to grab something quick and get back to sorting paperwork, etc.

Regards,
Ian

PlutoinCapricorn

I can beat your figures: I spent £20 on a very MSE-style short break a few years ago. 2 nights in a Travelodge at £9 each, and £1 each way for the coach tickets. I lived mostly on what I brought with me e.g. Oats-So-Simple, Ryvita and cheese, bananas, fruit teas. This was not a business trip though, and I don't think that HMRC would expect you to do the same.

Aquamania

IDN101 wrote: »

Many thanks for all the input guys.

The values I am talking about is £170 for 3 nights in a Premier Inn and (say) £20ish per day for breakfast, lunch and dinner. And YES- it may include McDonalds- as someone rightfully pointed out- at the end of day- it's coming out of my income! I'll save the "fancy"'dining for when I'm with my family- when I'm on business I just want to grab something quick and get back to sorting paperwork, etc.

Regards,
Ian

That'll be fine (as long as it is 'wholly & exclusively" for business).

Does your company have a dispensation agreement with HMRC that I previously spoke about?

You'll need receipts (unless a dispensation allows otherwise), otherwise you are limited to £5 per night away in the UK or £10 per night away outside of the UK.

Aquamania

PlutoinCapricorn wrote: »

I can beat your figures: I spent £20 on a very MSE-style short break a few years ago. 2 nights in a Travelodge at £9 each, and £1 each way for the coach tickets. I lived mostly on what I brought with me e.g. Oats-So-Simple, Ryvita and cheese, bananas, fruit teas. This was not a business trip though, and I don't think that HMRC would expect you to do the same.

I can beat your figures.

I bummed a lift off a mate, then dossed on another mates' floor for a couple of nights night, eat some scran I found of his in the kitchen and hitch-hiked home.

Total cost to me = nothing.

That wasn't a business trip either.
I've no idea where this is going or in what way it helps the OP, but just putting it out there like you did :cool: