Chartered Accountants

Did You Know (posted 7 October 2009)

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Effective from 1 March 2010, 80% of a travel allowance will be subject to PAYE and it is compulsory for any person that receives a travel allowance to keep a log book.

- VERY IMPORTANT Employers should ensure that travel allowances paid to employees during the 2009/2010 year are fair and legit.

-  The travel allowance should be included in the employment contract and should be awarded based on the nature of the employee's job. The value of the allowance should be a reasonable amount to cover BUSINESS travel only.

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