I travelled abroad to expand my business. I made two trips (the first trip was to scout, the second trip was to collect business VISA and pay for office hire ) after which I decided the expansion was not viable. During these two trips I spent money on hotels, car hire and food. Which of these three expenses can I claim as business expenses on my ltd company returns?
As all named expenses were business related, albeit you decided not to go for expansion, there is no reason why you can not claim for all of them as deductible expenses. There are many a times people spend money on feasibility studies and market research and abort the project in the end, all are allowable expenses.
If you need more information please let me know.
I hope this is helpful and answers your question. I am available for any follow up questions you may have, and you can use the reply button to post your follow up questions to the page.
Ok. So just to confirm, does this mean the food is a deductible expense too?
Thank you for your prompt response ..
Provided the trip was business related, cost of meals is deductible expense ... make sure you have supporting documents (like you would have for normal expenditure) in the event the accounts are challenged.