Travel and subsistence expenses

What records should we keep for travel and subsistence payments to employees ?

You must keep the following records in relation to travel and subsistence reimbursements (aka unvouched expenses) :

1. name and address of the director or employee
2. date of the journey
3. reason for the journey
4. kilometres involved
5. starting point, destination and finishing point of the journey
6. basis for the reimbursement of travel and subsistence expenses, for example, where a worker needs an overnight stay away from home.

If you reimburse actual expenses (aka vouched expenses), you must retain all receipts.

You must keep all records for six years after the end of the tax year to which the records refer.

It is very important to ensure that your records meet the minimum requirements above, as if not a future revenue auditor could deem same to be wages on which there will tax, penalties and interest

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie