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Previously on "legitimate business expenses"

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  • shoes
    replied
    Yeah. When the middle management types get all excited about it being 'on expenses' what they mean is it isn't being paid for by them personally. The company owners are paying for it. In a one man ltd co that would be you! Whether or not this can be offset against tax is what has changed, quite a while back now.

    It's quite sweet to watch these middle management halfwits getting excited at the prospect of a free curry. Bless 'em.

    Leave a comment:


  • oraclesmith
    replied
    It's not against the law !!!!!

    It's just that most companies can't set it against profits (eg. as a company overhead). It must be taken from profits after corporation tax has been paid.

    In the old days, it was common for companies to give staff regular tax free beano's with clients instead of taxable pay - which means the HMRC lost out. You can't really do that anymore. Limited companies obviously still entertain clients but they can't use it as a tax free perk for staff anymore.

    Leave a comment:


  • nucastle
    replied
    I dont understand then.

    Nearly everywhere ive ever worked has had a large number of execs or managers who would frequently take people out for lunch/dinner/drinks (staff and clients) and it would all be done 'on expenses'.

    ... surely all these places werent breaking the law?

    Leave a comment:


  • tino
    replied
    must have missed it earlier this week - apologies......

    thanks guys

    Leave a comment:


  • Orangutan
    replied
    I am getting a sense of deja vu!

    This was done a day or two ago (Possibly under "Cheeky Expense") - spelling is deliberate

    Leave a comment:


  • oraclesmith
    replied
    Nope. I only ever use the 'staff party' allowance.

    The rules on claiming business entertainment against profits are quite restrictive so it's best not to bother unless it's your main business. Also, it points to you abusing the company's legal structure for your own ends !

    In my opinion.

    Leave a comment:


  • tino
    started a topic legitimate business expenses

    legitimate business expenses

    Do any of you folks claim "corporate entertainment"......

    I.e. - I go on a piss up with a client, get receipts and then claim it back??

    This sounds like a belter to me

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