It's Friday. The sun's shining. The pubs are open (sort of!) and it's St George's Day! Have a great day! https://t.co/SCWTBWUHam
We are thrilled to announce that we are continuing our exciting partnership with Kevin Silvain at the start of his… twitter.com/i/web/status/1…
Just a word of warning for you though for you before you spend more than you anticipated and get caught out by the tax rules.
HMRC permit spending of up to £150 per head (per year on social events like a Christmas party), tax free for the recipients and as a deductible expense for the business.
BUT…go as little as 1 pence over this figure and you’ll land yourselves with a non-deductible cost!
AND…a taxable benefit subject to income tax and national insurance.
AND…it won’t be just the excess over £150 that’s taxable, it will be the whole lot!
Don’t leave your team with an unwanted Christmas present from their Christmas party!
Give us a call if you need advice on this or similar matters.