1, December 2018

Celebrate And Let The Taxman Pay For It

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HMRC provides added incentives to limited companies putting on a Christmas party or an annual event for employees.

The events will be exempt from tax and National Insurance, but there are some strict rules, including the following:

  • The party cannot cost more than £150 (including VAT) per person
  • The party must be an annual event, it can be any party on any day, such as a Christmas party or summer party
  • The party must be open to all of your employees (and must consist mostly of employees)
  • Shareholders are not included in the exemption if they aren’t employees or directors

You can also claim an additional £150 per person for a plus one for each employee, providing they are a family member or partner.

Somethings to note are:

  • This exemption is not available if your party costs more than £150 per person, you won’t be able to claim the first £150 as a business expense – the whole thing will be taxed as normal.
  • The exemption also spans the whole year, so the combined cost (per person) of all events in a single year cannot exceed £150.

If you want to learn more about allowable business expenses, please get in touch.

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