What expenses can you claim at Christmas?
What expenses can I claim through my limited company is one of those questions we are asked throughout the year.
And as Christmas approaches it’s definitely the right time to remind you that you need to remember that all work and no play really does make for bad business.
Even the taxman agrees. Did you know that you can claim up to £150 per person against a staff Christmas (or Easter, or Spring, Summer etc) party…
You can invite all your employees and their partners, and the first £150 you spend per person is allowable for tax relief.
Any spend over and above that would be considered a benefit in kind, so do keep an eye on the overall cost.
Here’s Alex to tell you more…
The allowance applies whether you employ 100 people, or it’s just yourself, so if you haven’t already, act now and don’t miss out!!
Remember, we’re accountants, not HR advisors… Christmas party time is often a busy one for them, so be careful, especially if copious amounts of alcohol are involved.
As always, please feel free to contact us for any further information relating to this topic, or business expenses in general.
And watch out for our next article on allowable gifts coming soon…