How are people spending their £150 "social function" budget?

How are people spending their £150 "social function" budget?

Author
Discussion

CzechItOut

Original Poster:

2,154 posts

191 months

Thursday 25th February 2021
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Usually, the wife and I go out for a nice meal somewhere posh to the tune of slightly under £300. I was waiting to see when lockdown would be lifted, but given that restaurants won't be open until after the end of the tax year I'm somewhat at a loss as how to spend it.

Has anyone else come up with ingenious ways to make the most of this allowance?

In case anyone is wondering what I'm talking about:

https://www.gov.uk/expenses-benefits-social-functi...

wheelerc

219 posts

142 months

Thursday 25th February 2021
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Isn't this based on your company tax year, rather than fiscal year? You may have more time than you think...

sgrimshaw

7,323 posts

250 months

Saturday 27th February 2021
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Doesn't that link relate to reporting requirements for employees Tax and NI purposes?

It's not about what is tax deductible from profits for entertaining .