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W44 - Christmas Party Reminder The Taxman allows a full tax deduction for entertaining staff and their partners, as long as the guest list doesn't include the company's customers or suppliers. Keep an eye on the total event costs (including VAT) and divide it by the number of partygoers. If the answer is £150 per head or less, the staff can have a tax-free knees-up. If the cost per head is more than £150, then the full expense must be apportioned between the staff who attended and reported as a benefit-in-kind on form P11D for each of them. If you hold a number of staff parties in the year, the £150 per head limit applies to the total cost of all these events. This means you could have a Summer Barbecue, Christmas Party and a Halloween do, and so long as the total comes to £150 or less per head – you will get tax relief on it! |
"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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We take great pride in our service, and would be delighted to invite you for a free 1 hour, no obligation meeting at our comfortable offices. Simply call us on 020 8346 0391 to arrange a mutually convenient time. This web-site was last updated on 17/01/2012 Specialist Dental Accountants for over 27 years. Copyright © 2003-2011 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site. We can still help you if you're not a dentist. Please click here
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