Too often, expense policies and procedures are left to individuals or departments with little or no tax knowledge.

A robust expenses process requires the appropriate interaction of people, process and technology. HM Revenue & Customs understand these risks and as part of their new risk-based approach seek to gain a detailed understanding of:

• Is your expense policy adequate, well understood and enforced?
• Are your systems (paper based or electronic) supporting the efficient operation and monitoring of your expenses processes? and
• Do your processes properly support the incurring, authorising, processing and reporting of expenses?

Not certain?

A robust expense policy and process is relatively easy to implement in most organisations and getting it right pays large dividends in the longer term. Our team of former HMRC Inspectors and personnel can advise on policy design, system and compliance controls to ensure matters comply with HMRC requirements and your wider risks to the business are managed effectively.

For further information please contact the Cobia team on 0845 226 0580 or email info@cobia-uk.com