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VAT rules on Christmas gifts and parties.
KEY POINTS
- VAT can usually be reclaimed on entertaining employees as long as all staff are invited.
- Hospitality for overseas clients may be subject to VAT relief in some circumstances.
- Making a small charge to guests to obtain VAT relief.
- Business gifts may be given VAT-free up to a £50 annual limit for each recipient.
Now then Neil ” said John Dyer managing director of Dyers Estate Agents Ltd “my plan is to have a big Christmas party at our local Indian restaurant – I am going to invite all 20 of my staff and they can each bring a guest. I will also invite a few important suppliers and customers – and you as my accountant of course. Can I claim back the VAT on the cost...
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