fbpx

Can you throw a tax free party for your employees?

So if Chelsea do the double (come on you Blues), or heaven forbid England do well in the World Cup, can you throw a tax free party for your employees?

Well, the good news is yes you can, as long as the total spend is under £150 per member of staff. This can cover the cost of the food, drink and also the costs of transport and accommodation.

Your team will no doubt cheer the fact they can also bring along their spouse or partner and there is no income tax or national insurance to pay.

This tax allowance lasts for the full financial year so you can throw both a summer and Christmas party and provided you stick to the less than £150 per member of staff figure, both parties will be tax free for the employees.

Watch out you don’t score an own goal however. If you spend over the limit the whole amount spent on the party will be liable for income tax and national insurance for both employers and employees.

arrow_upward

Do your assets exceed £1.5 million?

Get access to our FREE Video Guide about How to avoid Inheritance Tax.

The guide is specifically designed to protect your wealth.

Close