New research has today revealed that the UK’s workforce is missing out on a collective £962 million in expense claims due to lost receipts and incorrect claims.

The research, commissioned by Barclaycard, also suggests modern day employees claim less than half in expenses than their counterparts from the 1960s.

The survey, which factored in inflation to correctly weight the sample, polled both those who worked in each decade from the 60s to the present day and also those who currently incur business expenses, suggesting that the average yearly amount claimed in expenses throughout the 1960s was £2,335, compared to just £907 in the 2010s.

Despite the five decades that have passed, however, fewer than one in five (16 per cent) respondents had access to a corporate card – half (49 per cent) reported being frustrated by having to pay for business expenses from their own funds and then waiting to be reimbursed.

More than a third - 37 per cent - said they had faced cash flow issues by paying expenses out of their own pocket, and almost one in 10 (8 per cent) had even missed a payment on a personal credit card while waiting to be paid back.

Of those who do make the effort to claim, the aim is to recoup all that they can – with £7.36 being the smallest amount Brits will claim.

46 per cent believe that any spending during the working day, even a coffee, is fair game and should be claimed for, no matter how small.

One in six (17 per cent) also admit to claiming for items costing under a pound.