Travel firms could be missing out on millions of pounds in corporation tax and national insurance claims, according to a leading industry accountant.
MacIntyre Hudson head of travel and tourism Andrew Burnham says companies should be reclaiming tax and national insurance on IT research-and-development spending that can run into millions.
Burnham said: “Any sort of investment in technology should be eligible [for a rebate]. A small tour operator could be spending £100,000 - an online travel agent £1 million.”
Companies may reclaim such tax payments for the previous two years. Burnham said: “There is a fair amount of money involved.”
He is due to address a business travel seminar on the subject in central London on Thursday and will be joined by MacIntyre Hudson director of VAT services Damon Wright
Wright will outline the latest attempts by HM Revenue and Customs to extend the Tour Operators’ Margin Scheme (Toms) to non-tour operators.
Ian Skuse and Sojan Essex of law firm Piper Smith Watton will also address the seminar.
Skuse will outline the implications of corporate responsibility and ‘duty-of-care’ requirements, and Essex give advice on shareholder agreements.
The Business Travel Update will take place on Thursday, March 7 at 4pm at the offices of MHA MacIntyre Hudson, 30-34 New Bridge Street, London EC4.
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