My company is relocating. As part of the relocation package I get a lump sum payable 1 month before I move. According to the policy I can only spend it on certain things, in fact to quote it:
There are brief guidelines on the IR website, but does anyone else whose received relocation assistance have any good ideas on some good things to blow this cash, as obviously I want to get as much as I can out of it?

Simon.

[Edited by P1Fanatic - 7/8/2003 12:52:38 PM]

Off the top of my head I think it's an £8k limit before it becomes classed as a benefit in kind.
You should include:
Agents fees
Legal Fees
Stamp Duty
Removal Costs
Survey / mortgage arragement fees
A reasonable amount of travel costs to hunt for new house.
....etc.
I'm sure you can get to £8k without trying too hard !

D

All you have listed is already paid for - the lump sum is extra on top for the "inconvenience" if you like.

It lists a couple of things like appliances etc - if it comes to it Ill buy a £2k dishwasher if it means not giving them any money back.

I just want to know if stuff like carpets, curtains, sofas, beds etc come under the tax-exempt bracket. As Im fairly sure a 9-ball pool table doesnt :(

Simon.

Anyone else?

Why don't you ask the HR Dept in your company what you're allowed to spend it on - sometimes radical solutions are required ;):D

I would if I was at work. Ive emailed them but no response. I wasnt looking for strict guidelines, just an idea about what others have spent their on in the past.

Simon.

Wow theyve actually replied. Looks like pretty much anything to furnish the house is covered. Their might be a pool table coming my way very soon :)

Simon.

plasma screen

Top Tip - keep the e-mail from HR - they've a habit of changing their minds ;).

Don't forget the beer fridge !

Just doing a relocation myself... Its very very easy to reach the £8k limit! My relocation is likely to cost 2+ times that quite easily, fortunately company funded, unfortunately I'll still have a hefty tax liability!!!

i wonder if the company will allow u to use the money to part pay for a new car? part payment for new M3 in order to drive to work sound cool ;)

I've been through this twice and on each occasion I received £1.5k for replacable items. e.g items you had to leave behind in the last house. I'm certain 'white goods' are NOT allowed.

I spend mine on daft stuff like:

Curtains
Duvets
Beds
Shelves

In brief, bought some top quality housey things and didn't worry when the taxman got interested. Top tip - keep all receipts.

Chris - I believe Drinky has asked this already and was told no!

Simon.

I should know some of this, having relocated to Canada.

from what I recall, the sum is used to replace like for like items that you had back home, so, for example, fridge, freezer, cooker, bed, sofa, etc...

I could be wrong on this.

Bottom line, keep ALL recipts for ANYTHING you purchase