Christmas party £150

[MJHolohan]

The £150 can be used for several events. It can also be used for travel to an event but you can't exceed £150. It must be open to all staff members though so you might need to have your Christmas party on your own? Although technically you should be able to.

[ContractorBanking]

Just to confirm, is that £150 inclusive of VAT?

And is the VAT claimable?

[MJHolohan]

That will depend. Are you VAT registered and reclaiming VAT on your purchases?

[ContractorBanking]

That will depend. Are you VAT registered and reclaiming VAT on your purchases?

Yes, I'm VAT registered and claim on purchases.

So, is it £150 inc VAT or £150 + VAT ?

thanks

[mudskipper]

Yes, I'm VAT registered and claim on purchases.

So, is it £150 inc VAT or £150 + VAT ?

thanks

The £150 includes VAT

[Craig@Clarity]

Provided that it's an Annual Event such as a summer BBQ or Christmas Party (being the obvious ones) and it's open to all employees, you can expense up to £150 (inclusive of VAT) per head per tax year. You should claim for the actual spend which is receipted. As Mudskipper said, if you go over this limit then the whole amount is subject to a benefit in kind charge (BIK). Don't claim for round sum cash amounts. Claim for what you spend which could include travel and accommodation to the event. So, assuming you're the only employee and you decided to invite your partner, then you can claim up to £300 for the annual event.

In terms of a student loan, in broad terms, you'll pay back 9% of the amount you earn over a certain threshold on your self assessment tax return (assuming your salary is kept below the threshold amount currently at £1,527). So if your total income is over £18,330 on your tax return, the student loan repayment will be calculated at the same time on your tax return; you'll pay the personal tax in the usual way to HMRC and they will in turn pass it on to the student loan company.

[cannon999]

Provided that it's an Annual Event such as a summer BBQ or Christmas Party (being the obvious ones) and it's open to all employees, you can expense up to £150 (inclusive of VAT) per head per tax year. You should claim for the actual spend which is receipted. As Mudskipper said, if you go over this limit then the whole amount is subject to a benefit in kind charge (BIK). Don't claim for round sum cash amounts. Claim for what you spend which could include travel and accommodation to the event. So, assuming you're the only employee and you decided to invite your partner, then you can claim up to £300 for the annual event.

In terms of a student loan, in broad terms, you'll pay back 9% of the amount you earn over a certain threshold on your self assessment tax return (assuming your salary is kept below the threshold amount currently at £1,527). So if your total income is over £18,330 on your tax return, the student loan repayment will be calculated at the same time on your tax return; you'll pay the personal tax in the usual way to HMRC and they will in turn pass it on to the student loan company.

I believe the 150 is applicable to employees only and does not extend to family/friends etc.

[Craig@Clarity]

I believe the 150 is applicable to employees only and does not extend to family/friends etc.

Nope. It's still per head and extends to guests too other than staff

[cannon999]

Nope. It's still per head and extends to guests too other than staff

Funny that, my accountant said that it's only for employees.

[mudskipper]

Funny that, my accountant said that it's only for employees.

This is the same accountant that says you can claim £150 without a receipt?