08 Nov

Relocation expenses

Q. My wife and I are both directors of a company and we are soon to relocate to another part of the country to set up a new branch. The existing branch will continue to be run by the two other company directors. Will we both be entitled to the £8,000 relocation expense exemption?

A. As long as you are both employees of the company in your own right, the exemption provisions in ITEPA 2003, s 287 should render you both eligible for the £8,000 exemption. Further information on relocation costs for tax purposes can be found on the GOV.UK website at https://www.gov.uk/expenses-and-benefits-relocation.

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