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Directors’ taxable expenses disclosure

4th March 2013 3 Comments

 

“What do you include (if anything) in the footnote to the directors’ emoluments table to cover “sums paid by way of expenses allowance (so far as they are chargeable to United Kingdom income tax)”?  Would you for example include expenses claimed for taxis from work to home, overnight accommodation and meals?”

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  1. FTSE100 said

    4th March 2013 at 8:25 am

    Following discussions with our Auditor and internal tax department, we included reimbursement of travelling expenses to Board meetings held at the Registered Office. We decided that other expenses properly claimed in fulfilling their duties did not fall within what was required to be disclosed.

    • FTSE250 said

      4th March 2013 at 8:10 am

      We do not disclose expenses paid to NE directors.

      • FTSE100 said

        4th March 2013 at 8:07 am

        I have made the executive decison that notwithstanding the fact that some NED expenses are chargeable to UK income tax, properly claimed expenses in fulfilling their duty as a director are not payments which fall within what shareholders are seeking to understand as pay for directors. They are not presently disclosed.

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