Business gift to partner

[gemasp]

Hi there,

If I would make quite expensive gift to my business partner, am I allowed to expense it through my Ltd company ?

Thx.

[Craig@Clarity]

If it's your business partner and you buy it through the company, won't they effectively be buying it for themselves anyway??

What are you thinking of buying? Chocs, wine or tobacco isn't an allowable expense for CT.

[DeludedAussie]

If it's your business partner and you buy it through the company, won't they effectively be buying it for themselves anyway??

What are you thinking of buying? Chocs, wine or tobacco isn't an allowable expense for CT.

100k rolex watch with diamonds

Just interested what tax benefits could you get away with if buying jewellery

[Platypus]

Hi there,

If I would make quite expensive gift to my business partner, am I allowed to expense it through my Ltd company ?

Thx.

It's not clear whether your business partner is an employee of your limited company. If so, these rules apply:
EIM21863 - Particular benefits: trivial benefits - examples

[Platypus]

What are you thinking of buying? Chocs, wine or tobacco isn't an allowable expense for CT.

Chocs and Wine are allowed if they are 'seasonal gifts'

[Craig@Clarity]

Chocs and Wine are allowed if they are 'seasonal gifts'

Absolutely agree but the OP didn't say it was for Xmas. They also say expensive gift which IMHO is not "trivial".

[Platypus]

Absolutely agree but the OP didn't say it was for Xmas. They also say expensive gift which IMHO is not "trivial".

I was responding to your statement that chocs and wine is not allowable against CT. My point is, yes they are, if they are seasonal gifts.

I entirely agree that this does not answer the OP's question, but then again, neither did your your reply about choc!

[Craig@Clarity]

Good point!

[gemasp]

Sorry I didn't explain that clearly. Let's say I have a friend who helped me to get a new contract and I would like to buy him a present - something around 1.5K (10% of a contract).

Can I expense that?

[Craig@Clarity]

Sorry I didn't explain that clearly. Let's say I have a friend who helped me to get a new contract and I would like to buy him a present - something around 1.5K (10% of a contract).

Can I expense that?

You can but it won't be an allowable expense for corporation tax relief.