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Practice News

Business entertainment

Whether its casual drinks in a bar with a customer, buying them lunch or a Christmas ball to promote the company, HMRC won’t allow any tax relief on business entertainment.

Staff Entertainment (including Christmas)

Money spent on entertaining employees is tax deductible and includes directors, partners and sole traders (where they attend a staff function) However there is catch, staff entertainment is a taxable benefit in kind. New rules from 6 April 2016 allow an employer to spend £50 per employee without a benefit in kind tax charge. What…Read More

Gifts for clients

Christmas is now on its way and you are now deciding what to give your best customers? The general rule is there is no tax relief for gifts. However a business can give away an item incorporating a conspicuous advertisement provided it costs less than £50. No relief is given on food, drink, tobacco or…Read More

Gifts for employees

A gift made by an employer to an employee is tax deductible in the employer’s accounts. Vat is also reclaimable. While HMRC does not limit the value of the gift, it must be considered trivial.

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