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Your top Business Travel questions answered

We’ve put together answers for the questions you should be asking if you’re travelling for business, managing currency for business or managing expenses. This is the start of our ultimate guide to travelling for business. Simply click on the question to get the answer. What should I use overseas? Cash, credit card or prepaid card? What are allowable expenses for employees? How should you expense business travel? Do business expense cards work in the UK? How can I save money on foreign exchange rates?   What should I use overseas? Cash, credit card or prepaid card? All debit, credit and […]

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How to mix business and leisure and stay on the right side of HMRC

Once upon a time business trips were all about getting there and back again as soon as possible, but with technology and travel making it easier than ever before to explore the world, many are opting to mix business and leisure in a new pursuit some have dubbed ‘bleisure’. A study by Expedia Media Solutions found that 43% of all business trips, made both at home and abroad, were extended to include some kind of leisure activity, while one in three business travellers had taken a friend or partner along with them. Of course, few would pass up the opportunity […]

woman in airport lounge

Overseas travel: what expenses are allowed?

Travelling abroad for work often presents more challenges than business travel within the UK, but expenses shouldn’t be one of them. As a general rule, you can claim for transport, subsistence and accommodation overseas just as you would at home, as long as you keep in mind HMRC’s ‘all or nothing rule’: to claim tax relief on business expenses they “must be incurred wholly, exclusively and necessarily in the performance of your duties”. Keep receipts Hold on to your receipts just as you would at home – not only will they demonstrate the amount that’s been paid, they can be […]

happy lady

New financial year, new business opportunities

It’s the beginning of a new financial year – receipts have been furiously gathered and expenses claimed. It is a time to reflect on where your business has taken you over the past 12 months. And a time to look forward with renewed energy. We speak to business owners about the lessons they’ve learned and what they won’t repeat in 2017.   It’s all about the money Royston Guest, founder and CEO of Pti Worldwide, a consultancy dedicated to growing businesses, said firms should look at where every pound is going. “We have got thousands of pounds for legal fees […]

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Opportunities in Asia: The mission to keep creative industries thriving after Brexit

UK creativity will thrive after Brexit – that’s the determined stance of those working in the sector. The industry, which includes film and television, theatre, video games and fashion, is worth £84bn to the British economy. Many of these areas have relied heavily on EU funding and the freedom to move between countries but in light of the EU Referendum, work is underway to ensure the creative sector doesn’t suffer. The creative sector is one of five being prioritised by the government in its Industrial Strategy Green Paper in a bid to address the risks to long-term growth as the […]

people meeting

What does an EU divorce mean for small businesses?

It’s the beginning of a new era. Article 50 has been triggered. After much anticipation, Theresa May has started the divorce proceedings from the EU. The process of negotiating that separation will now begin in earnest. But despite some fears the pound would receive a further blow and fall against currencies around the world, it has maintained a steady footing. So, what happens to British SMEs now as they try to ‘keep calm and carry on’? Professor Vikas S. Shah, a member of the UK Industrial Development Advisory Board and an entrepreneur with 20 years’ experience in business, said there […]

wall street sign and flags

7 things to consider when managing currency for business

The past year has been an interesting one for British SMEs. The EU referendum and the US election have taken their toll on currency markets creating fluctuations in the cost of overseas travel and expenses and buying and selling overseas. As of 15th February 2017, the pound is down 14% against the US dollar and 9% against the Euro compared with this time last year. For businesses, this means spending money overseas has become a lot more expensive. Business profits, cash flow and competitiveness can all be affected by exchange rate movements, meaning a keen eye on currency risk is […]

woman in airport lounge

Keep your expenses form. I quit!

For two years, I was a frequent business traveller, flying around 800 miles a week. The company booked flights, hotels and parking on my behalf. I filled out an expenses form for smaller costs. It was all very easy. When the finance director went on maternity leave, an operations manager absorbed her role. It’s a family-run business and members of the senior staff often doubled up roles to fill the gaps, so a move like this wasn’t uncommon. Little did we know, an innocent, doubling-up exercise would make work really challenging.   One week, I was booked into different airport […]

airport plane

Can you claim compensation if your employee’s flight is delayed?

In August, research by the BBC revealed that air passengers using London Gatwick face the most flight delays in the UK. On average, passengers experienced delays of 18 minutes per flight. Consumer group Which? found that of one million flights, nearly half didn’t arrive on time, and more than 10,000 were delayed by more than three hours. If your employee is one of the unlucky passengers in limbo at the airport, can you claim for the inconvenience? FairFX spoke to Flight Delay Lawyer at Bott & Co Solicitors Kevin Clarke, and employment law specialist at Ramsdens Solicitors, Gareth Dando about […]

group of party guests

Quiz: Which naughty office party guest are you?

Office party season is upon us. That means you’ll soon be boogying with your boss and hoping that you don’t do anything too embarrassing (or else you’ll be the talk of the office throughout January). However, there’s always someone that gets a bit too boisterous after a few drinks or has a little cry after the toast. The office is full of characters that reveal themselves to be naughty office party guests by the end of the night. Do you know which naughty office party guest you are though? Take our fun quiz to find out whether you’re a Weepy […]

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How to throw an unforgettable corporate event

Tasked with the Christmas party? Solely responsible for boosting staff morale and building client relationships? It’s a familiar brief for HRs who are simultaneously encouraged to ooze generosity but ensure price per head is firmly under £150, (to avoid National Insurance charges obviously!) A good corporate event can kick start a new business relationship, lift team spirits and boost productivity in the weeks that follow your soiree.  As the Christmas party season jingles to life, FairFX spoke to star of Channel 4’s The Millionaire Party Planner, Liz Taylor – and  La Belle Assiette’s private dining expert, Millie Ashbee, about how […]

board meeting

The story of one financial director’s money-saving strategy

I told them: “It’s bad news, folks. Income fell hard and fast in the third quarter.” Sombrely, I traced along a plummeting red line with the light of a laser pointer. “We might be in some bother.” Fortunately, I’ve concocted a solution to our heavy-spending problem. “We’re going to take a harder-line with difficult clients. They’re leeching the life out of us with their ‘mates-rates’ and devil-may-care approach to payment. “We’re chasing late, inaccurate or unpaid invoices, and most of our clients say ‘the cheque’s in the post!’ We know it isn’t, they know it isn’t, but we go along […]