Advice please, on tax free present/bonus

[T40ORA]

I've only been self emplyed for just over 3 years, so not totally aware of all the benefits/options and have been relying on my accountanat - but it looks like it might be time to change said accountant!

Year before last I paid my wife and myself a Christmas present/bonus of (I think) 175 quid spent on a weekend away. Didn't do it last year, so I email my accountant to remind me of the amount I can take and I get a reply from someone in the office saying they have no knowledge of such a thing being possible.

Can anyone shed any light on this? Is the girl in the accountant office right? Or can I pay myself a Christmas present tax free?

TIA

[jeff m]

I would put this in the business forum.

I very much doubt this is possible in UK as I can't do that in the States

[Soft Top]

You can have up to £150, (could be £175 now), a year for employee entertainment such as Christmas parties. Going away could be your Crhistmas party.

[Eric Mc]

Are you genuinely Self Employed or do you run your business through a LImited Company (which is not, legally and from a tax point of view, a Self Employed business)?

[T40ORA]

Soft Top said:

You can have up to £150, (could be £175 now), a year for employee entertainment such as Christmas parties. Going away could be your Crhistmas party.

That's it! Thought I was going mad. Crap Accountant I have must be changed.

[Eric Mc]

T40ORA said:

Soft Top said:

You can have up to £150, (could be £175 now), a year for employee entertainment such as Christmas parties. Going away could be your Crhistmas party.

That's it! Thought I was going mad. Crap Accountant I have must be changed.

Not the correct answer if you are genuinely self employed.
Could you clarify the status of your business - self employment or limited company?

[T40ORA]

Sorry Eric, you are correct. Private Limited Company, so not truly self employed.

[raf_gti]

Sorry for thr thread hijack but I was going to start a similar one.

Eric,

As a PLC what tax tricks are possible?

My GF has recently taken over a small vet practice and at the moment has no idea what is possible. Could you give some pointers if poss? As the accounting is done through a 'group' accounting firm it is not really possible to have a one to one meeting with them over a relatively small matter.

thanks