Travel reimbursement

Hello I am an academic, I was invited to visit an international university and they reimbursed me directly for my plane and hotel fees. Should I declare this as a sole trader/ but put no profit/ travel expenses? Thanks in advance

Hi
If this was NOT in relation to either a trade or employment, and this was just a straight reimbursement of travel etc, then this would not be taxable income and would not need to be declared.
 

Hi, we are US and UK citizens and presently live in the UK . We want our children to visit us from the US. We want to pay for their travel costs. (1) If we pay for these is this a taxable gift? (2) If we reimburse them from our US account for travel costs they have incurred is this a taxable gift? (3) just for interest if we gave them a car would that have been a taxable gift?! Thanks, it would be helpful to get a prompt reply as we hope they come this summer and there is sunshine here! ABjaber

Hi,

There is no tax relief on these expenses whether classed as a gift or not.

Thank you.

Apologies as I may have not been clear in my question. I am no talking about tax relief . The taxation I was thinking about is Inheritance tax. I am in my mid 70s so the possibility of “falling off my perch” in the next few years is increasing! I wanted to know if reimbursing a travel expense to visit me to a daughter or son in law for example would count as a gift subject to inheritance tax if I did it in within a number of years of my death. Travel from Australia or the US is well over £250 per ticket now! I have two married daughters and two grandchildren. Would I be able to reimburse their tickets to the UK from US or Australia ? Does it make a make a difference if I give them the tickets vs pay them back for them buying the tickets? Does the "gift exemption" refer to cash payments only :- not tickets? Thanks for your opinion. PS The rules I had read seem to the advice given below:- Annual exemption for gifts You can gift up to £3,000 per tax year tax free. This is the total amount gifted, not per person. So you would need to spread this around your family if you wanted to gift money to multiple family members. A married couple or those in a civil partnership will have an annual exemption of £3,000 each. If you did not use your annual exemption last tax year then you can carry it forward to this tax year and gift up to £6,000. Small gift allowance You are also able to gift up to £250 to as many family members as you want tax free. However you can’t do this if you have already used some or all of the annual gift exemption on the same person.

Hi,
 

You can gift up to £3000 per year and it is not counted as part of your estate for inheritance purposes. You can give more than this if you wish but this would then be taken into account for your estate were you to pass within 7 years, You cannot carry froward the £3000 gift allowance . Thank you .