XMAS party allowance

[THEPUMA]

I am an accountant!

There is no journal entry. It was moved from one company bank account to another.

[Waldorf]

I am an accountant!

Didn't know we had turf accountants on here! Sounds a bit of a gambler to me!

[Mustang]

Variation on a theme.....

To get back to the original topic.......!!

I am Director of MyCo and my OH is Secretary. By what's been said, I am the only one eligible since she doesn't get paid by MyCo. However, I am allowed to take a guest. Bottom line: I can claim £300.

Now if MyCo wants to join forces with another Co and have a combined Xmas party is it possible to contribute to a party with another Co? For example can I pay for something towards that party so long as I get a receipt and it is below £300?

[expat]

Personally, I wouldn't bother to try and save £57 (£300 @ 19%)....

Quite an assumption there. It's a little bit more than that if you don't pay dividends and do pay 40% income tax.

[XLMonkey]

Provided that all staff in yourco are invited, it doesn't make a blind bit of difference who else is there.

[DeadKenny]

Do all the simple things right; avoid IR35, pay both yourself and your spouse £97 pw salary and £2488 pcm divi (assuming the spouse has no income and you can afford to live on £6K pcm), accumulate the balance in the company and pay it out as a capital liquidation after 2 years. Pay for your childcare through the company and put your mobile in the company's name. Claim your travel and subsistence home to work (assuming it qualifies).

This will save £10,000's. Forget about £57.

And then sit back and await IR to clobber you for 6 years back tax when the rules change