Parking fines – a business expense?

Parking fines – a business expense?

Accounting, Businesses, Corporation Tax, Tax/VAT Cases l

parking ticketsThe rules relating to the tax treatment of parking fines have been clarified thanks to a recent first tier tax tribunal decision brought by G4S.

Though prohibited under HMRC rules, to date, many companies have treated their employees’ parking fines as a tax deductible expense. However the situation has now been confirmed with a clear precedent for HMRC to reject any future such claims.