Workers urged to claim free £201 from employer which they 'are entitled to'
Workers are losing £16 a month in unclaimed expenses. UK workers failed to claim £1.4 billion in expenses over the last year, a study of 2,000 workers up and down the country, has found as the Cost of Living crisis continues on the road to Christmas.
Employees are foregoing an average of £16.71 a month, the study found. The survey of 2,000 employed adults found 22% have not claimed some costs back from their employer since August 2023, with employees foregoing an average of £16.71 a month.
Across a year, it would work out at £201. Steve Paul, deputy CFO of expense management and payments provider Equals Money, which commissioned the research, said: “Many workers underestimate the impact of unclaimed expenses, often dismissing small amounts as insignificant.
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“However, what might seem like just a few pounds here and there can quickly add up to hundreds or even thousands over time. By neglecting to claim these expenses, employees are essentially leaving money on the table, which could have a significant impact on their financial wellbeing.
"And submitting expenses late can make cash flow more challenging for employers as they struggle to monitor their company spend.” Steve Paul from Equals Money added: “It’s essential for companies to provide their workers with a simple and seamless system for reclaiming expenses.
“When the process is complicated or time consuming, employees are less likely to claim what they're owed or submit expenses late. This can make it harder for businesses to have visibility over their spending. A real-time, streamlined system not only gives businesses better control of their spending but ensures fairness and demonstrates a company's commitment to supporting its workforce and their financial health.”
The top 10 costs include mileage, refreshments during and between meetings away from the workplace and parking fees as well as office supplies (pens, paper, folders), public transport (bus, tube), train tickets, work-related subscriptions (industry magazines, professional journals) and team drinks.
Working from home equipment (office chair, desk) and professional development (conference fees, training courses) were also listed.