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Post Info TOPIC: Partnerships expenses Christmas party
Lyndsey


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Partnerships expenses Christmas party
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Hi Just wanted to double check something. I have a 3 person partnership, they are not currently VAT registered, but will be shortly. What are the rules on entertaining/christmas party? There are no employers, just the partners. Are these allowable for tax/vat. Thanks Lyndsey

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RobH


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Unfortunately not, this is a concession for employees. It's probably not a good enough reason on its own to incorporate but there might be other reasons to look into...

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Rob
www.accounts-solutions.com
Lyndsey


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I thought that was the case. I don't think there was a huge cost involved. Are there any circumstances you could allow "entertainment" type expenses? They work together in one workshop/office, only travel for business within a small area.

I get clients trying to write off an night out/meal off as a work expense, if they go out with their work colleagues...

They have just started up, and they wanted to keep it simple, under my qualifications I can only deal with books & self employed, I cannot deal with company taxes (I am working on that though). So I don't really know much about the be any benefits to incorporation.

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Cheshire


Master Book-keeper

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Hi Lyndsey
Do you fancy a bit of light reading? Maybe start on this one, although Im sure the links will take you to a few more places.......might send you to sleep too... www.hmrc.gov.uk/manuals/bimmanual/bim45000.htm

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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