The Drinks Are on You
As the high street fills with carol singers and busy shoppers over the coming weeks, and as the local workforce begins spilling out onto the streets after their office Christmas do, what for the lonely contractor?
You may have been invited to your client’s Christmas party, and that’s fine (from an IR35 perspective we’d suggest you pay for your own ticket), but what about your limited company? Can contractors have their own work Christmas parties?
Employee entertainment is tax deductible, so even if it’s just you and your secretary, you can save corporation tax through a Christmas do. You will need to ensure you keep all of the receipts but items including taxi fare, food and drink, event tickets, and accommodation can all be included.
To not become a benefit-in-kind however, your work event should not exceed £150 per head. That is an annual allowance too, so if Christmas isn’t your bag, you could use the allowance on a summer BBQ or simply an annual dinner, or even hold a multitude of employee events, as long as they collectively stay within the annual £150 per head limit.
For more information on expenses access visits our Expenses Guide page here or get in touch with your account manager should you have any queries.
Self Assessment – Q & A
Self-assessments. We have all heard of them, you maybe even know what they are. However, here at QAccounting some of our most frequently asked questions are about self-assessments. So below we have outline some of the most common questions we get asked, and the answers we get so tired of giving… just kidding.
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The Benefits of Having an Online Accountant
Here at QAccounting we are part of one of the UK’s largest contractor service providers. We started operating over a decade ago (around the same time DFS started their first sale) and have been dedicated to serving self-employed professionals ever since. One of the perks of choosing and accountant like QAccounting is that we offer all of our accounting services online.