SmartWork’s expenses policy follows guidelines set out by Her Majesty’s Revenue and Customs (HMRC), and is fully compliant with current legislation. Our company policy is designed specifically to prevent our employees from suffering any financial loss during the course of their duties and all tax relief available is claimed.
The fundamental rule for claiming a business expense is that the expense is actually incurred by you wholly, exclusively and necessarily in the performance of your duties of employment.
All of this is dependent on SDC assessment – you can read more on this here.
There are two types of claimable expenses – rebillable expenses and tax-reducing business expenses
There are no set polices for rebillable expenses, it is purely down to the agreement you have in place between yourself and your Agency or End Client. This should always be agreed before you start your contract.
These are submitted with your timesheets so they can be billed directly to the Agency or End Client and paid accordingly.
Tax-Reducing Business Expenses
These are the costs you incur in the course of your duties that have been authorised by your Agency or End Client and will be fully reimbursed by them.
You can read more on this via our dedicated Expenses Handbook.
Submitting your expenses
Expenses can be submitted by the SmartPortal which logs all your expenses and gives real-time access.
Alternatively, we have a SmartWork claim form which you can fill out and return to us. Click here to download.
Since the changes in legislation in April 2016, those deemed not to be working under SDC will tax relief for expenses in one lump-sum at the end of the tax year. SmartWork employees will be assisted with claiming expenses at the end of the tax year via the completion of a P87 form or if the expenses exceed £2,500, reclaiming the tax relief via a Self Assessment tax return.
It is important that you submit expenses on a regular basis via the SmartPortal as this could mean you do not receive the maximum tax relief available to you.