Christmas Presents

[dx4100]

IIRC you can buy the gifts with company money but they will not be counted against Corp Tax.

Yup that's what my accountant just told me....

He said to put it down as "Entertainment".....

[TheFaQQer]

IIRC you can buy the gifts with company money but they will not be counted against Corp Tax.

That sounds about right - my accountant told me not to bother last time I asked him, as it wouldn't save me any money doing it.

[DonaldG]

Right answer, it is better to put this through as a company expense. You don't get tax relief on it and you cannot reclaim the VAT (if not on the FRS scheme).

However the company pays for it, it means you are not paying for it personally (on money that you have already been taxed on) so you will be technically better off.

Merry Xmas!