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Did you know: You can claim input tax on these two common business travel expenses?

by , 01 August 2014
Do your employees travel regularly for business purposes? If so, we have some good news for you.

You can recoup some of their business travel expenses by claiming every legal input tax deduction available.

It's true.

Take a look below at the two common business travel expenses you can claim input tax on so you can boost your company's cash flow.


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Good news! You can claim input tax on these two business travel expenses
 

Business travel expense #1: Air travel
 

Domestic air tickets include Vat at 14% (the standard rate). The good news for your bottom line is that you can claim this as an input.
 

Experts behind the Practical Vat Loose Leaf Service urge you to remember that, 'foreign air tickets, on the other hand, are zero-rated for Vat and consequently there's no input tax implication or benefit to be had.'
 

Business travel expense #2: Accommodation
 

Vat is charged at 14% on accommodation where the establishment is a Vat vendor, as most hotels and commercial accommodation facilities will be. Many guesthouses and bed and breakfasts are also Vat vendors.
 

So you can claim back the 14% input tax charged on business travel accommodation.
 

Just don't forget that before you claim input tax on business travel, you must meet this all important condition
 

In this article, we explain: The condition for claiming input tax on business travel is: You (director), your business partner or your employee must have spent at least one night away from your usual residence and place of work for business purposes.
 

Well there you have it: Knowing about the two common business travel expenses you can claim input tax on will help you to boost your company's cash flow.

 



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