IF the company funds an Oyster card for travel around London, how does that get accounted for. Each journey is known but as it is prepaid does it have to be treated like an account?
Hi Debra,
I'm not sure what the tax rules are with regards to things like Oyster cards. Certainly it would be simpler and quicker to just record the travel expense when you top up the Oyster card, but this is slightly inaccurate as it brings forward the date of the 'true' expense. I recommend you check with HMRC on this one. Sorry.
Regards
