Christmas tax incentives for companies.

With Christmas just around the corner, what better time to treat yourself for this year's efforts? Luckily, we've got you covered with a couple of ways to reward yourself and claim tax relief at the same time.

Staff entertainment.

You can spend up to £150 per head, each year on events for staff members - this can be anything from a sit down meal to a virtual Zoom celebration.

You can splash the full amount on just one event, or you may wish to host multiple throughout the year - the choice is yours.

Just be sure not to exceed the £150 exemption, otherwise the full cost of the event will be taxable.

Trivial benefits.

You can gift yourself and your employees to a Christmas present up to the value of £50 (including VAT) - tax relief and a boost to staff morale? Win-win!

This can be anything from alcohol to a gift certificate, so long as it isn't cash or a cash voucher, and, if you're treating employees, make sure that it isn't a part of their employment contract or a reward for their performance.

Got questions? Contact our experts today here.