Travel insurance as company expense

[japancool]

I'll be travelling to Japan soon, and I need to take out travel insurance. Given that the trip is for company purposes (yes, it really is), can I claim the travel insurance as a company expense?

Due to pre-existing conditions, the insurance will be quite expensive.

 

[MyAccountantOnline]

I'll be travelling to Japan soon, and I need to take out travel insurance. Given that the trip is for company purposes (yes, it really is), can I claim the travel insurance as a company expense?

Due to pre-existing conditions, the insurance will be quite expensive.

If it's business travel insurance arranged for and paid for by your company solely for company business purposes - yes

 

[UK Contractor Accountant]

business travel insurance - is that for this trip only or worldwide yearly policy?

If made a claim whilst on holiday, for example, then some element might be taxable on the Director/Employee.

 

[japancool]

business travel insurance - is that for this trip only or worldwide yearly policy?

If made a claim whilst on holiday, for example, then some element might be taxable on the Director/Employee.

No, just for this one trip only.

 

[SBC Marketing]

I'll be travelling to Japan soon, and I need to take out travel insurance. Given that the trip is for company purposes (yes, it really is), can I claim the travel insurance as a company expense?

Due to pre-existing conditions, the insurance will be quite expensive.

I'm confident you can classify it as a business expense, but it's advisable to verify with your accountant to ensure accuracy

 

[NickGrogan]

If the trip is solely for business purposes, you can and should claim all expenses related to it.

Travel and overnight expenses​

If you have to travel for your work you may be able to claim tax relief on the cost or money you’ve spent on food or overnight expenses.
You cannot claim for travelling to and from work, unless you’re travelling to a temporary place of work.
You can claim tax relief for money you’ve spent on things like:

• public transport costs
• hotel accommodation if you have to stay overnight
• food and drink
• congestion charges and tolls
• parking fees
• business phone calls and printing costs

Claim tax relief for your job expenses

Claiming tax relief on expenses you have to pay for your work, like uniforms, tools, travel and working from home costs.

www.gov.uk

There are specific rates for Japan

Expenses rates for employees travelling outside the UK

Find out the scale rate expenses for accommodation and subsistence paid to employees who travel outside of the UK.

www.gov.uk

 

[japancool]

Cool. My hotel expenses are quite a lot less than their rates. Plus it's good to know they expect me to eat like I'm a fat b*stard.

 

[MikeJ]

Some people used to book a flexible business class ticket, cancel it and then book a basic economy seat, but use the business class ticket in their expenses.

That's not legal though, so don't do that.

 

[japancool]

Some people used to book a flexible business class ticket, cancel it and then book a basic economy seat, but use the business class ticket in their expenses.

That's not legal though, so don't do that.

I wish I could, but I can't. I can't really sit in economy - being that close to other people for 15 hours is too much of a risk, since I'm immuno-compromised now, so I'll have to take that business class ticket anyway.