Holiday expenses through company

[NickFitz]

As hex said.

I've always thought that with my current setup, myself and my other half both being directors & share holders, we could technically have two separate events, the first attended by myself and "a guest", therefore allowing a claim of £300, and then a second event attended by my other half and "a guest", therefore meaning that in total, I'd claim £600 (two employees / two guests)

The question that would need to be raised is, whilst I would definately be considered as an employee of my company, could my other half be considered one too, solely on her being a director? I've had a read through the HMRC rules regarding this, and I think I came to the conclusion it was a no, however, would appreciate other peoples thoughts on this!

Seriously, is it worth all the potential hassle over the tax on a few hundred quid?

[ratewhore]

As Mal has said before, you can claim whatever you like. Whether you pay tax on the BIK is, of course, a different matter.

Draw the cash out of the company, pay the tax, go on holiday. Tight git!!!

[Crossroads]

The question that would need to be raised is, whilst I would definately be considered as an employee of my company, could my other half be considered one too, solely on her being a director? I've had a read through the HMRC rules regarding this, and I think I came to the conclusion it was a no, however, would appreciate other peoples thoughts on this!

If she doesn't receive a salary she is not an employee and therefore is not eligible.

[Weltchy]

I had heard that you could set up an incentive scheme, so basically the company reward the highest revenue generator with an annual trip......not sure the validity of this though, as it was just something I heard

Wouldn't this be considered a gift, and therefore come under the £150 annual party rule?

[Weltchy]

Is there a difference between shareholders meetings once a year and the annual shindig ? Also is it £150/person - I was advised it was £150 total.

As hex said.

I've always thought that with my current setup, myself and my other half both being directors & share holders, we could technically have two separate events, the first attended by myself and "a guest", therefore allowing a claim of £300, and then a second event attended by my other half and "a guest", therefore meaning that in total, I'd claim £600 (two employees / two guests)

The question that would need to be raised is, whilst I would definately be considered as an employee of my company, could my other half be considered one too, solely on her being a director? I've had a read through the HMRC rules regarding this, and I think I came to the conclusion it was a no, however, would appreciate other peoples thoughts on this!

[aceboy]

I had heard that you could set up an incentive scheme, so basically the company reward the highest revenue generator with an annual trip......not sure the validity of this though, as it was just something I heard

[Hex]

per person

[FiveTimes]

Shareholders hold meetings once a year though

Only thing you can get away with is the annual £150 per person for employee & guest (£300) which is allocated for the annual company shindig.

Is there a difference between shareholders meetings once a year and the annual shindig ? Also is it £150/person - I was advised it was £150 total.

[Weltchy]

Only thing you can get away with is the annual £150 per person for employee & guest (£300) which is allocated for the annual company shindig.

Other than that, trying to claim £1000 expense for a week in a Sandals resort may result in gordon's cronies paying a visit in the early hours of the morning!!!

[handyandy]

or maybe even ... Dogs

Just 'cos MP's can claim aything on expenses why would you think anyone else can.

[fixedpriceaccountant]

Strictly speaking..

No this kind of expense should never be put through the business! Expenses should be wholly and exclusively incurred on business costs.

That being said, these kinds of expenses do get lost in with other transactions frequently by all clients. The truth is that unless every transaction is being checked (like an audit) it would be nigh on impossible to find them all!

Also, I have personally dealt with a client who genuinely held their board meeting in Tenerife. We sought revenue advice and they confirmed that a portion of the expenses that could be justified as being for the board meeting whilst abroad could be tax allowable.

A very sticky topic though with the powers that be!

[Jubber]

I said to my accountant

"With this year's profits, can I hold my shareholder's meeting on a nice island somewhere?"

He said "Sure, with your profits, pick one of these , Sheppey, Wight or Chiswick Eyot."

<diddle-dee dum - Tish !> <takes a bow>

(old ones are the best)

[contractor79]

who's gonna find out if you are going there to sunbathe or discuss contracts?

[malvolio]

Ermm... No

Shareholders hold meetings once a year though
</Puma comment avoidance>

[contractor79]

Do you put holiday expenses through company?

Train fares, taxi, aeroplane fares, hotels... or is that really taking the p@ss too much

Could the taxman believe you were going on a business trip for discuss with potential clients?