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Post Info TOPIC: Staff entertainment Nominal code/VAT


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Staff entertainment Nominal code/VAT
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Hi, 

Director and employee went to a concert. Can the VAT be reclaimed on this and which nominal code should I post to?

Thanks,

d



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Jonathan



Master Book-keeper

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Hi Jonathan
Have a look at this guidance
www.gov.uk/government/publications/vat-notice-70065-business-entertainment/vat-notice-70065-business-entertainment
The manuals also have more info

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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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Thank you Joanne. Based on the article I have gone for 7403, T1.

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Jonathan



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Sorry Jonathan but I think that is incorrect.

You cannot claim the VAT element for a Director can you.

Also to throw another issues in - there is one employee who went with said Director. Is that employee a spouse or partner?

Is 7403 the entertaining code? Sorry cannot recall just now and not got sage open.

__________________

 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



Master Book-keeper

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UK entertainment Joanne, Agree with your comment ref T1



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Master Book-keeper

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Thanks John.

Other thing Jonathan - do you know entertainment is disallowed for CT purposes? So you may need to do a further split, but dependent on the answer to the spouse bit.

__________________

 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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