Tuesday November 17, 2009

Dear Reader

Am I taxed on the Christmas Party?

It's only 6 weeks to go until Christmas and thoughts can start to turn to the office Christmas party. We are often asked whether tax relief can be obtained from such an event. The good news is that in many cases it can. There is an exemption from tax, national insurance and reporting if you provide a party or similar function for employees that meets the following three conditions:

1. It’s an annual event, such as a Christmas party or summer barbeque
2. The event is open to all of your employees
3. The cost per head of the event isn’t more than £150

For more guidance click here.

Back to top

VAT's going back up

The government has confirmed that VAT will revert back to its previous level of 17.5% on 1st January 2010. In simple terms, invoices you raise after 1st January 2010 will have the new VAT rate and those issued beforehand will use 15%. As with most things, there are exceptions and further guidance is available here.

Back to top

Cash boost for mums to be

Over 468,000 mums to be have benefitted from the new health in pregnancy grant which is worth £190. Hardly a justification for pregnancy, but congratulations to those expecting and click here for more details about the grant and how to claim.

Back to top