Subsistence vs expenses

Kumejima

Here's one for the accounts whizzes. Knocking together year end figures. First returns for as a limited company after 3 years as a sole trader.
Do quite a bit of travelling home and abroad for work. I've used the company cards to pay for expenses such as flights hotels and restaurants while abroad. Have kept the receipts.
Wanted to know
a. What part of the journeys are considered subsistence (are flights/car rental/hotel/train fares all included in this or is it just bed and board so to speak)
b. If I choose to go the flat subsistence rate (in order to minimize my taxable salary) , do I as an individual now need to reimburse the company for all the dinners/hotel rooms etc it paid for me?

All insight appreciated

srsly78

It's travel and subsistence you need to seperate.

Hotel + food = subsistance
Taxi + flights = travel

If you want to claim the flat-rate subsistence there is no point using company cards to pay for stuff... this defeats the whole point and makes it a nightmare to seperate.

So either:
a: Use company card for all subsistence expenses. No reimbursement needed.
b: Pay out of your own pocket, reimburse yourself flatrate.

Do not try to apply both at the same time, for the sake of your own sanity nevermind the legal problems.

I travel a lot as well, and I gave up collecting receipts a long time ago. Only receipts I have are ones I get via email, whenever possible I try to buy online etc. Might make the odd exception for taxis, but I always lose the paper receipt I use the unvouched flat-rate expenses whenever possible for overnights abroad. Don't need any receipts, but do need to have some kind of evidence (plane ticket is fine for this).

Kumejima

Seperating it out isnt a problem - I'm usually in London and the UK for a few days at a time and stay with friends so only spend a small amount on food/hotel. So subsistence seems to be the way to go.
Its a small company so Ive logged all the receipts under hotel/food/ travel whatever.
I'm just wondering how to go about it from a company accounts point of view as this was all paid for on the company card. Can I reimburse the company for the expenses incurred or am I now forced to go with the expenses route?

srsly78

If you want to use the flat-rate thing then you should reimburse the company yes.