Originally posted by Old Greg
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Previously on "Company Xmas Party - Ltd co sole employee / director"
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Originally posted by Old Greg View PostI had a discussion with my accountant last year who wouldn't accept this principle. Of course it's my decision, but are we sure?
There is an exemption from tax, NICs and reporting if you provide a party or similar function for employees that meets the following three conditions:
it's an annual event, such as a Christmas party or summer barbeque
the event is open to all of your employees
the cost per head of the event isn't more than £150
HM Revenue & Customs: Social functions for employees, including annual parties
The cost of the function includes VAT and the cost of transport and/or overnight accommodation if these are provided to enable employees to attend. Divide the total cost of each function by the total number of people (including non-employees) who attend in order to arrive at the cost per head.
EIM21690 - Particular benefits: annual parties and other social functions
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Originally posted by northernladuk View Post
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Originally posted by GazCol View PostIt's a secret.
http://forums.contractoruk.com/accou...ml#post1464394
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Originally posted by GazCol View PostExcellent, I know what this years Christmas Party allowance will now be splurged on!
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Originally posted by Greg@CapitalCity View PostThe Xmas party is like an 'anything goes' rule - just don't exceed the thresholds discussed in this thread, and the entire amount remains tax deductible for the company with no P11D costs on the employees.
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Originally posted by GazCol View PostI didn't know corporate hospitality was an allowable expense, christmas party, or otherwise.
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Originally posted by malvolio View PostMaybe you should. It has to be company expenditure, not expenses.
...yes, try and keep company expenditure on company cards wherever possible. It's just good common sense.
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2 seats in the corporates for one of the christmas fixtures usually does for me.
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Originally posted by malvolio View PostMaybe you should. It has to be company expenditure, not expenses.
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