Expensing food

[christhedon]

Three questions

1) Can you expense food? (seems like mixed feelings on this board)
2) If you can expense food. What are the requirements if any?
3) Whats the worse thing that can happen if you expense for something and the tax man comes for you and it is realised that you cannot actual expense that thing? Is it
a) You pay back what you owe
b) You face a fine

Please could someone give definitive simple answers to the above. (Having searched for food I have found mixed answers)

Thanks,

Chris

[Sockpuppet]

Three questions

1) Can you expense food? (seems like mixed feelings on this board)
2) If you can expense food. What are the requirements if any?
3) Whats the worse thing that can happen if you expense for something and the tax man comes for you and it is realised that you cannot actual expense that thing? Is it
a) You pay back what you owe
b) You face a fine

Please could someone give definitive simple answers to the above. (Having searched for food I have found mixed answers)

Thanks,

Chris

Are we talking small amounts of food (subway etc) or are you talking about expensing the whole of your family shopping?

[malvolio]

You've been told this before: you can expense anything you like, but under some circumstances it becomes a benefit in kind and hence is taxable. You can safely claim some expenses as business-related, and hence not BIKs, as long as you are working away from your normal place of work and you know you will not be there for more than 24 months (note: not you have been there more than 24 months).

If you are using an umbrella, ignore all that and use whatever rules they proclaim. Otherwise, ask your accountant (assuming you have one and if not you really, really need one), because that is what you pay them for.

[Denny]

Food for Thought

. My answer is under 'general'

[ratewhore]

and don't forget, if you are talking 'client entertainment', this can go through the books but will be subject to corporation tax...