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Benefits: An Overview:
Tightening Controls

Streamlining Processes

Ensuring Compliance

Eliminating Fraud

Regulating Travel

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 Expense Management Software - Ensuring Compliance
Related Articles:

1. Monitor VAT Applicable Claims
2. Monitor Fraudulent Expenses
3. Build Your Defence Case Against the Tax Inspector

 

Tax Back International
With a dedicated international VAT research team, Tax Back International has up to the minute knowledge of the constantly changing EU and non EU VAT laws and regulations.

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Comprehensive Expense Management System

Ensuring Compliance

Recent research into expense claimants, found that many organisations are not collecting sufficient details to show where or why an expense occurred and if the expenses are legitimate; and are uncertain as whether to record an expense as:

  • an employee benefit
  • a PSA item
  • an item subject to Corporation Tax
  • business travel and subsistence

But how can a busy employer ensure that their legal VAT and Tax obligations are met, without impacting employee performance?

Automate Legislative Compliance

Introducing expenses will ensure all these complicated rules are adhered to with minimum manual effort.

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Comprehensive Compliance Reporting

As with all expenses reports the Tax, VAT, P11d, Duty of Care and PSA data is generated to give you a quick total, but also facilitates the drilling down to the route of every item claimed by every employee.

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Fulfilling Tax Obligations

By recording each employee expense and benefits in kind item, expenses enables you to report and export each item that should be included in each employee’s P11d and PSA:

P11ds: P11d report information is difficult to keep on top of throughout the year and even more difficult to collate from a manual expense system. expenses does this collation for you, automatically, without any manual intervention.

PSA(PAYE Settlement Agreement)s: expenses is configured to recognise an employees Tax rate and, from this information, gives you an end of year report showing the total value of benefits provided to basic and higher rate employees. Calculating your annual PSA amounts with expenses takes minutes, rather than days.

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Reclaiming VAT

expenses is designed to calculate accurately each potential occurrence of VAT and, work behind the scenes, ensuring that claimants do not need to learn or understand any of the complex rules or calculations.

expenses can also help you to reclaim VAT incurred on European travel expenses.

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Duty of Care

Many organisations do not carry out sufficient checks on employee vehicles and, in the case of an accident, the organisation's senior personnel could be found liable.

expenses includes a Duty of Care function which enables Clients to record and manage:

  • Employee Details
  • Vehicle Insurance
  • MOTs
  • Driving Licenses

expenses reminds you, through simple email notifications, when these records need to be checked, helping to reduce the corporate risks associated with an employee having an accident during work time.

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