Expenses Audit
A client was unsure of the deductability of some costs for tax purposes so asked us to review employees’ expense claims.
Having reviewed all expense claims over a twelve month period, we produced a report for the directors to review, which highlighted deficiencies in the record keeping of the employees and also in the authorisation process, and proposed amendments to the Company’s procedures which would ensure that tax allowability was maintained on those expenses unsupported by vouchers.
This comprehensive review led to an additional claim for input tax that was greatly in excess of the fee incurred and future tax allowability was ensured.