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HMRC Expense / Relocation Benefit - Explanation Pls
bamgbost
Posts: 484 Forumite
Hi Guys
Was verbally offered a new role last week.
And one of the things they mentioned is the relocation benefit for £8k!
This made my eyes light up! As it sounds a decent amount.
I am awaiting the full offer in writing and can try and ask Qs then, but on anticipation of this, I am keen to understand the benefit.
Previously I received 8% of the new salary, which was taxable in my first paycheck for relocation.
BUT This time its the HMRC expense process. Tried reading the main website and its not quite clear to me, other than to say that if its £8k or less, there's no need to report / detail how its spent. I think?
Anyone been through this process. And can explain how it works. Can the company give u the 8k? And you use it however. or must I spend the full 8k on relocating vans, deposits, other expenses etc.
Any help to explain this would benefit to its fullest would help guys. Obviously I am aware there is more the new package, than relocation benefit only, but I am keen to understand the head and tail of this benefit.
Was verbally offered a new role last week.
And one of the things they mentioned is the relocation benefit for £8k!
This made my eyes light up! As it sounds a decent amount.
I am awaiting the full offer in writing and can try and ask Qs then, but on anticipation of this, I am keen to understand the benefit.
Previously I received 8% of the new salary, which was taxable in my first paycheck for relocation.
BUT This time its the HMRC expense process. Tried reading the main website and its not quite clear to me, other than to say that if its £8k or less, there's no need to report / detail how its spent. I think?
Anyone been through this process. And can explain how it works. Can the company give u the 8k? And you use it however. or must I spend the full 8k on relocating vans, deposits, other expenses etc.
Any help to explain this would benefit to its fullest would help guys. Obviously I am aware there is more the new package, than relocation benefit only, but I am keen to understand the head and tail of this benefit.
365 Day 1p challenge - £371.49 / 667.95
Emergency Fund £1000 / £1000 ( will enlarge once debts are cleared)
DFW - £TBC
Emergency Fund £1000 / £1000 ( will enlarge once debts are cleared)
DFW - £TBC
0
Comments
-
It's up to £8K, and your expenses need to be documented.
Do you have a mortgage, what are your moving costs?0 -
...
Anyone been through this process. And can explain how it works. Can the company give u the 8k? And you use it however. or must I spend the full 8k on relocating vans, deposits, other expenses etc.
..
.
Your employer deals with it.
https://www.gov.uk/expenses-and-benefits-relocation
You have to spend the money on relocating. If your employer just gives you money it's taxable.0
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