Expense Management
Tracking expenses is a critical part of the relocation process. When part of a company sponsored move, relocation expenses are considered a benefit in kind to the employee. As such, they are governed by HMRC rules.
Companies operate different policies when it comes to tax tracking and the payment of tax liabilities. However, in any event, costs that are not eligible or that are in excess of £8,000 become tax liable to the employee. This liability must then be paid to HMRC, either on behalf of the employees or directly by themselves.
KRS can manage this process for you and, crucially, make sure you adhere to HMRC rules. We track relocation expenses for individual employees, provide regular updates on spend and prepare end of year accounts for submission to HMRC.
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Companies operate different policies when it comes to tax tracking and the payment of tax liabilities. However, in any event, costs that are not eligible or that are in excess of £8,000 become tax liable to the employee. This liability must then be paid to HMRC, either on behalf of the employees or directly by themselves.
KRS can manage this process for you and, crucially, make sure you adhere to HMRC rules. We track relocation expenses for individual employees, provide regular updates on spend and prepare end of year accounts for submission to HMRC.
back