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Is there enough money for the Christmas party?Christmas can be an expensive time for employers but Company Christmas would like to remind all employers that company events for staff at this time of year can be tax free. Tax Free Parties! Up to £150 for each employee and partner. Is there enough money for the Christmas party? Christmas can be an expensive time for employers but Company Christmas would like to remind all employers that company events for staff at this time of year can be tax free. HM Revenue and Customs (HMRC) allows companies an annual ‘gift’ of £150 per head for staff parties tax free. The £150 should cover the total cost of all food, drink, accommodation and transport, plus VAT, divided by the total number of guests. The number of guests should include non-employees such as partners who this £150 limit also applied to. It is important to note that HMRC’s Xmas spirit only extends so far!” If the amount spent exceeds £150 per head they will expect full tax payment for not only the overspend but the full £150 as well. Clive Lewis, Head of Medium Issues at the Institute of Chartered Accountants in England & Wales, said: “Not only is having a Christmas party a morale booster to staff it is also a reward for the hard work that has been put in over the year. Businesses should make the most of the tax free amount and not just resort to some warm wine and plastic cups in the office.” It must be said that we are not tax experts at Company Christmas, but we do love a staff christmas party! Please refer to this link http://www.icaew.com/index.cfm?route=152841 for further information and annual party advice. It goes without saying that we have a huge variety of Christmas party ideas in this price range Your Christmas party budget just got better! http://www.companychristmas.co.uk/ Article Tags: There Enough Money, There Enough, Enough Money, Christmas Party Source: Free Articles from ArticlesFactory.com
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