Silverstone Expenses

[weboo]

Say I have just been given some tickets from an agent for Silverstone F1 in July. I now want to go and will probably camp the whole weekend, can I claim the pitch fee's n stuff back as I would'nt have gone if I was'nt given the tickets in the first place. Will it qualify for Entertainment expenditure?

[weboo]

so sad, I am replying to myself now. I may also want to buy additional tickets for my own use(say I am bringing my favourite client as a sweetner)...can I claim this too?

[malvolio]

You can claim whatever the hell you want, it's your company. However, if you want to avoid being done for tax evasion and spending a bit of time at HM's pleasure, I suggest you take note of what is and isn't claimable as business expenses and make sure you properly decalre any that aren't.

If it is wholly and exclusively in order for you to pursue your business, then it's claimable. Paying for a potential client's tickets may be allowable on that basis (but not any VAT element unless they're from overseas) but probably only if you had access to meeting space at the event and the grandstand by Paddock probably isn't it. As for your camping costs, you're having a larf, shirley...

So the quick answer is probably no. What does your accountant think?

[weboo]

My accountant was of the opinion that I probably didnt want to claim this type of expense becuase its harder to justify if questions were ever asked. I already have 500 quids worth of tickets for nothing, so dig deep and pay for the camping yaself...oh well, thanks for the quick reply

[Ardesco]

Why do people not listen to what thier accountant tells them and then come on this board looking for a different answer?

If you don't trust your accountant why are you paying them all that money ?

[ratewhore]

You got free tickets. Just go and enjoy it...

[cailin dana]

Entertaining is never allowable...... just listen to your accountant.

[Bluebird]

who;s the agent ?

all I ever get is a poxy mouse mat with a calendar printed on it - and 2007's didn't arrive until May !!

b@stards.

[ratewhore]

Entertaining is never allowable...... just listen to your accountant.

Entertaining is not tax-deductable - there's a difference...

[Sockpuppet]

so dig deep and pay for the camping yaself

Last time I went camping (3 weeks ago) the pitch fees were not "digging deep".