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The tax position on giving Christmas gifts to your best customers

Like in our previous post “Giving gifts to charities or employees. Tax deductible or not?” giving gifts to customers and suppliers falls under the category of “entertainment”, which would mean the cost of the gifts is not tax deductible. However if: the gift is promotional in nature (ie it’s branded with the company logo) and […]

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Giving gifts to charities and employees. Tax deductible or not?

Generally speaking the giving of Christmas gifts to employees falls under the category of “entertainment” and therefore the cost of the gifts wouldn’t be tax deductible. However, there are some exceptions If the gift incorporates a clear advertisement for the business (ie it’s branded with the company logo) then it could be tax deductible, but… […]

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Tax implications of employee Christmas parties

When thinking about tax implications for your business, there are three key considerations when planning a staff Christmas party: is the cost of the party an allowable expense for business tax purposes? does a Christmas party fall under the category of a “benefit” and will my employees be taxed? can I recover VAT on the […]

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Directors

The rules on the taxation of dividends are set to change with effect from 6 April 2016, which could impact on the amount of tax you pay if you draw down dividends. Currently the taxation of dividends is that a 10% tax credit is being added to the cash amount of the dividend, with the […]

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Taking Control of Your Tax Code

Right folks, the 6th April 2015 marks the start of the new tax year and for most people new tax codes. It has already been announced that the tax code to be used for most people born after 5th April 1948 with one job, will be 1060L, but do you really know what this means….? […]

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