RJMS Health Care Accountants

Festive Cheer with the Taxman!
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Oct 01, 2017

Are you a limited company owner? If so the taxman is offering a bit more festive cheer.
By following a few rules set down by HMRC that stipulate what a Christmas party entails you can enjoy your feast even more with a tax exemption.

The Rules are…

The party has to be an annual event.

It must cost no more than £150 per head, only one pound more and the exemption is withdrawn.

The allowance can be split into multiple events, for example spending £50 per head on Halloween and £100 at the Christmas do.

The More the Merrier

All employees have to be invited with the bonus of bringing one family member who also benefits from the £150 allowance. Even a company of one can take their spouse out for £300.

No cheer for Sole Traders

This exemption is only available to limited companies and their employees so partners in a partnership, clients, suppliers and subcontractors best go home with a takeaway!

The RJMS Team

Proof they ran (part of) The Sheffield Half Marathon in 2013.

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