Delay in repaying company expenses 'unacceptable', says Expend survey

A recent survey on company expenses has revealed "unacceptable" delays in repayments - but the good news for Kent business owners is that workers in the south east are the most honest when it comes to claiming back cash.

In a survey conducted by expenses software company Expend, nearly a third (29%) of those quizzed nationally said they had been forced to ask friends or family for cash after they were left out of pocket waiting on company expenses to be reimbursed.

It also revealed over half of south east workers (51%) have had to put expenses on a personal credit card or go into their overdraft due to expenses, incurring personal debt in order to facilitate costs for the businesses they work for.

Delays in repaying staff is "unacceptable" says expenses company
Delays in repaying staff is "unacceptable" says expenses company

Nearly one in six (15%) of UK workers have been unable to pay off the balance the same month due to their company expense policy, leading to unnecessary debt.

Compounding the problem, more than one in five (21%) UK employees have to wait longer than a month for expenses to be repaid.

However, in the south east, the wait was even longer - with 24% of staff having to wait more than a month to get expenses back.

Over two thirds (67%) of workers in our region consider being left out of pocket by their employer 'unfair' or 'very unfair'.

However, while the national survey revealed 15% of staff would profit from business expenses if they could get away with it, in the south east that figure was just 9%.

Reclaiming petrol is one of the most frequent expenses claims
Reclaiming petrol is one of the most frequent expenses claims

Johnny Vowles, chief executive of Expend, said: "This research had some frankly shocking findings highlighting the scale of the expenses charade in the UK.

“It’s simply unacceptable that workers have to borrow money from family and friends or go into their credit cards or overdrafts to float their company’s expenses. We certainly don’t think businesses do it intentionally as a cash flow solution, but the problem does exist.

"Organisations need to be able to control expenses so that employees that need to pay out for company costs either have the money available to do so or at least are reimbursed as soon as possible. Businesses with lax expense policies can also benefit from technology to harness greater control over expenses, which can have a significant impact on a company’s financial planning.”

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