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Home » News & Insights » Claiming For Business Gifts

Claiming For Business Gifts

Posted on 6th January 2015

Although business gifts are not deductible as a general rule, there are exceptions for small gifts that carry a conspicuous advertisement for the trader, such as a branded diary, mouse mat or pen. However, for a deduction to be forthcoming the gift must not be food, drink or tobacco and the cost of all gifts to the recipient in the tax year is capped at £50.

A deduction can also be claimed for the cost of free samples given to the public.

Example:
Kevin is a self-employed handy-man. He wants to give his customers a gift at Christmas. By giving them a mouse mat featuring the logo of his business, he is able to claim a deduction for the cost of the gifts.

Had the mouse mats not been branded, the deduction would have been disallowed.

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Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice

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