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Annual Christmas Parties

Annual Christmas Parties

It's that time of year again! Are you planning your company's annual Christmas party? Wondering where to host it and what should be featured at the bar and on the menu? You may have a limit/budget of what to spend but have you ever thought you could end up paying more in tax?


Each company is entitled to spend up to £150 per employee over the space of the year, tax free, on annual social functions. 


If there is more than one annual function (Christmas party & Summer Ball) the expense isn't taxable provided that the combined expense does not exceed £150/head. 


If the total costs go over the exempt amount then this would result in the full amount being treated as taxable. The company would have to declare the cost on each individual employee's P11D.


If you wish to discuss this further, give us a call on 0121 706 8585!


Enjoy the festive season but don't stuff yourself with more tax to pay! 

 


 

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Disclaimer


The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal or accounting advice and should not be relied upon as advice. Please see our website's terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact us and one of our accountants will be happy and able to advise you on your own particular circumstances.

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