Entertainment is not a normal expense, in that it is subject to corporation tax, currently 21% and 20% next year.
This makes me wonder : for a contractor who remains under the 40% tax threshold, is it actually worth claiming Entertainment as an expense? Is it pretty much the same financial conclusion as having paid for it privately?
The only reason I see is to get funds out of the company, i.e. almost like extending your basic rate tax band.
This makes me wonder : for a contractor who remains under the 40% tax threshold, is it actually worth claiming Entertainment as an expense? Is it pretty much the same financial conclusion as having paid for it privately?
The only reason I see is to get funds out of the company, i.e. almost like extending your basic rate tax band.
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