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Blog

The Accountants for Growth

Overseas Earnings - Working Offshore on Yachts

Overseas Earnings - Working Offshore on Yachts
Well the tax return season is over for another year and it always throws up some interesting cases.
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A Tax on Christmas!?

A Tax on Christmas!?
What will the taxman let us spend on Christmas parties and gifts this year? 
We are regularly asked what can I spend on my team and clients as a ‘thank you’ each Christmas and it is not an easy question to answer in a sentence. Let’s look at the allowable costs and we will start with staff parties:-
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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?

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Annual staff parties

Annual staff parties

Businesses often get confused over the tax free amount they can spend on employees at an annual party.


Currently, £150 (including VAT) can be spent in respect of each employee at the annual party. If, however, the expenditure exceeds the £150 allowance then the whole amount becomes taxable, not just the excess over £150 and has to be reported on the business’ Forms P11D. The allowance covers all costs associated with the event, such as taxis home or accommodation costs. To be applicable the event has to be available to all staff members.

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