Provided that the travel is incurred wholly, necessarily and exclusively for the purpose of business.
HMRC may of course ask why did you have to travel and will also consider the cost of the travel compared to the expected return on such investment.
Beware the word necessarily. Why is the foreign company using your services rather than a local company. Why do you need to travel rather than use the internet / telephone.
If there is any question that the travel was incurred for personal rather than business reasons then such will at a minimum be disallowed as an expense. (at worst it could be looked upon as tax evasion).
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
It's wider ranging than only the foreign travel element but covers the subject matter in more depth
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Don't know about yourself but I'm finding the site hard going this morning as all posts are remaining highlighted.
Give me a min and I'll dig out that post that we sent to Steve from when this happened before and bring it back to the top.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
There are a few of those gems lying around the forum. Often where Bill and myself get into a technical debate and it ends up like a bookkeepers version of top trumps!
actually I think that Wises posting was legitimate (if slightly misguided) as I must have heard it a dozen times where a client or more often associate in the banking day job legitimately has business abroad and is trying to figure out exactly how they can turn that into a tax efficient two weeks on the beach for their entire family!
The first post seemed to just be asking a technical question but the follow up that I did not respond to showed a serious lack of integrity.
That anyone asks about the likelihood of being caught indicates that they have not had the IFAC code of ethics ingrained upon them so I assume has no formal training in accounting.
For anyone reading this who has not yet come accross the moral code that we must all live by the basic five are :
Integrity
Objectivity
Professional duty of competence and due care
Confidentiality
Professional behaviour
Each of the supervisory bodies either adopts the code as is or adapts it slightly but the core is that we must at all times act in a manner that would not bring the profession into disrepute.
Looking at the odd's on being caught does not tally with that at all.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
In the early 90's my accountant (chartered) advised me to have my companies AGM somewhere exotic such as the caribean.
I never took her advice as to me it just sounded like an HMRC inspection waiting to happen but I have often wondered if there are any directors that have taken that option.
I know that RBS keep having their AGM's in England but that can't really be considered that much of a holiday for them!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
......(apologies if not)
