December 8th 2020 9:35 am

Written by Sam Miller

home :: tax news :: personal tax

Have A Tax-Free Office Party At Home

HMRC's tax exemption for office parties applies even for those at home.

An annual exemption for virtual home-based events allows businesses to spend up to £150 per person tax-free. The money can be spent on things like entertainment, food and drink.

Businesses can also purchase a gift (up to the value of £50) for an employee tax-free.

These allowances are the total allowed for the year, so if a business has already used the amounts in full, for example in a company summer party, no further tax-free exemption can be applied.

There are a few caveats to make sure that the business isn't slapped with a charge for unpaid tax and NICs later, these include:

You can read more about the HMRC tax reliefs for social functions at their website.

See more articles from December 2020

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