Employee and intern expenses in a company limited by garantee (Not for profit)
- From: wbrowse <wbrowse@xxxxxxxxx>
- Date: 22 May 2007 12:49:09 -0700
Hi,
I first introduce myself, I have a French deep knowledge of accounting
and I am now located in the UK.
I am dealing with some accounting less or more basic accounting issues
for a newly created company as I haven't got much practical experience
with UK accounting issues. I should mention it's a not for profit
company although my questions are not yet related with technical stuff
in this area.
1) I would like to know how to deal with transport expenses.
-there are 2 kinds of employee:
permanentIn France, in some companies, travel costs using public transport can
interns
be included as an expense for 50% ... as French accounting is a lot
about taxes, that would mean the expense would reduce the amount of
tax to pay for 50% Pof its value...
What about travel card, train and tube fares in London? Can a 7 day or
1 month travel card be kept for its total as an expense?
Are there any requirement for this in the financial statements?
2) I would like to know about lunch expenses.
Can permanent employee lunch expenses be deducted? any limits?
What about intern expenses?
3) Again about transport, what about taxi and cabs? Can their expenses
be part of the Profit and Loss account with no consideration for
taxes?
4) Now if a permanent employee has lunch or goes to the pub for the
interest of the company, is this an expense?
Thanks in advance for any help on any or all of these questions,
Pcl
.
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