Ltd company Christmas pressie

[Jasandjules]

Is there any reason why my Ltd company can't pay for a Christmas present to me? And the person who does the invoicing?

My old employers used to give gifts and hold parties etc...

[MrSparks]

The accountant at my networking group said that a Ltd company can give 6 gifts of up to £50 value each to anyone, including director/staff.

You can also spend up to £150 per head on "Christmas Party" as long as you offer it to all staff.

I'm sure someone like Eric will be along to clarify soon!

[Eric Mc]

'Tis all contained here -

https://www.gov.uk/expenses-and-benefits-gifts-to-...

Useful page from Grant Thornton -

http://www.grant-thornton.co.uk/PageFiles/3602/Chr...

[Jasandjules]

Ta!

[shopper150]

Looks like I won't get getting a Rolex from my company then!

[Jasandjules]

shopper150 said:

Looks like I won't get getting a Rolex from my company then!

LOL

[RYH64E]

shopper150 said:

Looks like I won't get getting a Rolex from my company then!

I do know of people who've had a Rolex or similar given to them by the company, usual for winning 'Salesman of the Year' or similar, how does that work? Failing that it's another creative purchase of timing equipment for the laboratory...

[Mattt]

RYH64E said:

shopper150 said:

Looks like I won't get getting a Rolex from my company then!

I do know of people who've had a Rolex or similar given to them by the company, usual for winning 'Salesman of the Year' or similar, how does that work? Failing that it's another creative purchase of timing equipment for the laboratory...

Yeah, I've never heard of BiK implications for large 'long service' awards.

[Olf]

Surely the point that long service awards are not some kind of tax allowance but a recognition where the company happily pays both the value of the gift and covers any BIK arising.

[foliedouce]

We give a lot of gifts to our staff both physical and taking them away on jollies.

We have to pay the BiK on the value of all it to the tax man each year via a PSA. Last year this added an extra £200k to our tax bill.

This includes long service awards which in our case is a physical token and a 5 star holiday.

[foliedouce]

PS or you get the staff to declare as a BiK in their P11d. Hardly a gift / incentive then.