Peace of mind where it counts
Ensuring compliance with complex legislation around Income Tax and VAT for expenses is essential for all organisations. This is typically difficult, costly, and time consuming to achieve. However, getting it wrong could prove to be far more damaging.
At GlobalExpense, we have designed our expense management system from the outset to ensure that all claims comply with current legislation for VAT in all EU member states and Income Tax in the UK. Users are required to provide specific items of information for certain expense types in accordance with legislative requirements, thus enabling organisations to achieve and maintain compliance.
Because GlobalExpense provides a 100% receipt audit function, we can quickly identify items that breach the organisation's receipt policy and equally identify areas where VAT is not being recovered through a failure to provide a valid VAT receipt. This enables our clients to educate users who persistently fail to provide valid VAT receipts and as a consequence significantly increase the amount of VAT recovered by the organisation.
Our system incorporates an HMRC-approved form P11D. This can be generated by the client for electronic distribution to employees followed by automatic submission to HMRC via GlobalExpense. For clients that require further assistance, we also provide a complete P11D compilation and management service.
GlobalExpense supports multiple expense policies that can be applied across many different levels within the organisation. Our spend limit and claim rules engines work together to enforce policy and highlight exceptions. We also provide interesting reports that identify authorisers who consistently approve out of policy claims. Our experience and research, highlighted in our Employee Expenses Benchmark Report, tells us that even though some 15% of claims are out of policy, typically more than 99% are authorised!