With the festive season upon us,
Santhie Goundar considers how to avoid the unpleasant surprise of
a bill from HMRC
December is the time for Christmas parties, team lunches and
gifts to employees and clients. While parties, gifts and days out
can be a great way to boost staff morale throughout your firm and
cement relationships with clients and prospects, it is a good idea
for any employer to consider the tax treatment for what they are doing
and take this into account when planning gifts and entertainment.
Of course, with each method of entertaining and each gift comes a
different treatment for the purposes of corporation tax, VAT and employment
taxation.
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