Sign up to newsletter

Magazine subscription

BBT March/April 2019 cover
March/April 2019

Glossary beginning with T

Baffled by an acronym? Our corporate travel glossary should help clear away misconceptions and have you talking like a pro.
Click one of the letters above to go to the page of all terms beginning with that letter.

Travel & expenses but can also be used to mean Travel & entertainment (especially in the US)


Travel Management Company: An agency which manages business travel for a company.


Tour Operators Margin Scheme: a special HMRC scheme for businesses that buy-in and re-sell travel, accommodation and certain other services as a principal or undisclosed agent (that is, acting in their own name). In the UK this scheme is known by the abbreviated term ‘the TOMS’. HMRC describes the TOMS as " ...a simplification measure. In many cases it enables VAT to be accounted for on travel supplies without businesses having to register and account for tax in each Member State where the services and goods are enjoyed."


Committee on Transport and Tourism: A European Parliament standing committee