Cardens A-Z Guide of Business Expenses You Can Claim: X is for…
If you are a musician or other entertainer, and need specific equipment in order to carry out your work, for example if you are a professional Xylophone player you can claim tax on the cost of your instrument
X-MAS STAFF PARTIES
Unfortunately when entertaining clients you cannot claim tax relief on this cost. However, HMRC do state that if you employ staff and you are hosting:
a) An annual event
b) The event is open to all staff
c) The event costs less than £150 per guest present
as long as your event meets all of the above criteria then HMRC may deem this a qualifying event and it will not be a taxable benefit for your staff.
In any case, do seek advice from your accountant before going ahead with any type of entertainment. If you do not have an accountant and would like advice on this topic contact us directly, we are always happy to help.