{"id":8131,"date":"2021-11-30T00:01:30","date_gmt":"2021-11-30T00:01:30","guid":{"rendered":"https:\/\/thebusinessculture.co.uk\/hey\/?p=8131"},"modified":"2021-11-30T00:01:30","modified_gmt":"2021-11-30T00:01:30","slug":"a-guide-to-corporate-parties-and-gifts","status":"publish","type":"know-how","link":"https:\/\/thebusinessculture.co.uk\/hey\/know-how\/a-guide-to-corporate-parties-and-gifts\/","title":{"rendered":"A Guide to Corporate Parties and Gifts"},"content":{"rendered":"<p>It\u2019s that time of year again when staff parties and corporate gifts suddenly appear on your to-do list. Maybe you\u2019re lucky enough to have a team member to sort them on your behalf or perhaps you have to do everything yourself. Either way, we\u2019re here to ensure that you receive every penny of <a href=\"https:\/\/www.treybridge.co.uk\/what-we-do\/tax\/tax-planning\/\">tax relief<\/a> available to you in the process.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Gifts for staff<\/strong><\/h2>\n<p>HMRC is pretty generous, as it allows you to give presents to your staff up to the value of \u00a350 each including VAT without having to pay tax on them. There are some limitations, such as the gift can\u2019t be cash or a voucher that can be exchanged for cash.<\/p>\n<p>Nor can the gift be in the form of a bonus, salary increase or as a reward for previous work. In a nutshell, it has to be a gift to celebrate the season, plain and simple.<\/p>\n<p>So, have a think about what your staff will enjoy most. It could be a food hamper, a bottle of wine, luxury chocolates or anything else to show your appreciation. You can then claim tax relief on up to \u00a350 per staff member, which can really add up if you have multiple employees.<\/p>\n<p>&nbsp;<\/p>\n<h2>Staff parties in person<\/h2>\n<p>If you\u2019re planning on hosting a party for your staff and perhaps some clients, suppliers and members of your business network, you can claim tax relief on this as well.<\/p>\n<p>For instance, if your celebration is taking place in a venue such as a bar, restaurant or hotel, your company can claim up to \u00a3150 per attendee as an expense. Again, there are some limitations, so make sure that all of the following criteria are met:<\/p>\n<ul>\n<li>Not all guests have to be employees, but every employee must be invited.<\/li>\n<li>You can only claim the amount you actually spend, up to a maximum of \u00a3150 per head.<\/li>\n<li>All of the costs incurred need to be included when submitting the information to HMRC, including any VAT.<\/li>\n<li>If you go over \u00a3150 per head, you have to pay tax on the whole amount rather than just the overspend, so we highly recommend that you remain within the threshold.<\/li>\n<\/ul>\n<h2><\/h2>\n<h2>Virtual staff parties<\/h2>\n<p>The coronavirus pandemic keeps throwing us unwelcome surprises, which means that some businesses are choosing to hold their staff parties online. A shindig through video conferencing software isn\u2019t quite the same as meeting in person, but it\u2019s a safe way to  celebrate together without putting staff at risk. Whilst a few drinks and a chat via Zoom or Teams is great fun, there are other formats that your virtual staff party could take. For example, it could be worth searching online for bands, comedians, theatre companies and other entertainers who are offering virtual packages.<\/p>\n<p>Though you won\u2019t all be meeting in a pub or restaurant, you can still claim up to \u00a3150 per head in company expenses if you pay for the food and drink. Last year we saw multiple businesses purchase party packs and have them delivered to their employees\u2019 homes, all of which were eligible for tax relief if they remained within the limit of \u00a3150 per person.<\/p>\n<p>In order to claim this type of tax relief, you simply need to prove how many people attended (such as through a screenshot and a guest list) and purchase the food and drink through your business, rather than allowing staff to buy it themselves and reclaim the costs.<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Tax management for SMEs<\/strong><\/h2>\n<p>We\u2019re not just accountants, as we also support SMEs and start-ups across the UK through exceptional <a href=\"https:\/\/www.treybridge.co.uk\/what-we-do\/tax\/\">tax management services<\/a>. To find out more about how we can help you to run a more sustainable business, call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in our <a href=\"https:\/\/www.treybridge.co.uk\/contact-us\/\">contact form<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s that time of year again when staff parties and corporate gifts suddenly appear on your to-do list. Maybe you\u2019re lucky enough to have a team member to sort them on your","protected":false},"author":12312793,"featured_media":8130,"template":"","know_how_category":[],"class_list":["post-8131","know-how","type-know-how","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/know-how\/8131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/know-how"}],"about":[{"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/types\/know-how"}],"author":[{"embeddable":true,"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/users\/12312793"}],"version-history":[{"count":2,"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/know-how\/8131\/revisions"}],"predecessor-version":[{"id":8133,"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/know-how\/8131\/revisions\/8133"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/media\/8130"}],"wp:attachment":[{"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/media?parent=8131"}],"wp:term":[{"taxonomy":"know_how_category","embeddable":true,"href":"https:\/\/thebusinessculture.co.uk\/hey\/wp-json\/wp\/v2\/know_how_category?post=8131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}