This month’s theme for Avanti is Tax Tips for the Festive Period and this week we are focusing on Christmas Parties
Let me tell you a little story – one about the generous business owner Bob and the big bad scrooge otherwise known as Revenue.
Bob wants to thank his staff for their hard work this year with a Christmas party, but is worried about the tax implications.
So he calls his Avanti Angels and this is our advice:-
The cost is allowable against both VAT and Tax of the company, if as a company director, you provide an event for yourself, open to all staff you employ, and you can invite your partner – as long as the cost per head does not exceed £150 (including VAT). This threshold can be split between events during the year but must not exceed the £150 even by a penny!
.Avanti reminded Bob that the rules and regulations around Tax are vast and that is why having the help from an Avanti accountant to complete your Tax Return can save you a lot of time and money with our experience and knowledge, especially with changing rules every year.
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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