‘Tis The Season Of Giving – Some Christmas Cheer From The VAT Man

Here we are again - can ‘yule’ believe it’s that time of year when businesses like to ‘present’ their staff with a reward for all their hard work? Did you know that certain gifts can be tax efficient? The VAT man won’t entirely ‘reindeer’ on your parade. First off, we have employee gifts. It doesn’t … Continue reading ‘Tis The Season Of Giving – Some Christmas Cheer From The VAT Man

‘Tis The Season Of Giving – The VAT Rules For Seasonal Gifts & Staff Parties

Seasonal Gifts Gifts given to staff or customers are legitimate business expenses and therefore the VAT incurred on the cost of these can be recovered as input tax. However, this gift is classed as making a supply for VAT purposes, so as a general rule the business will have to account for VAT on the … Continue reading ‘Tis The Season Of Giving – The VAT Rules For Seasonal Gifts & Staff Parties