Your company can host an annual event as a tax-free benefit to your employees providing they meet certain conditions. The costs may include things like food and drink or tickets to a gig. Check the tax information section to see how much you can claim per employee.
Admission tickets in relation to a specific event you put on for the whole company - Remember you are allowed to invite a partner along as well.
The costs can include food, drink, tickets to events, accommodation and a taxi fare home.
Could be a Christmas party or annual BBQ.
What's not included
If you go over the allocation on the event, then the whole amount is considered a benefit in kind.
Client Entertaining should be categorised separately.
Shouting drinks after work for employees.
How is it taxed?
You can claim £150 (including VAT) per head on a Christmas party or annual staff event as a tax-free benefit. Your employees are also allowed to invite a partner which gives you £300 to play with.
Don't forget you're allowed to spend more on the event obviously, but just keep in mind the amount over £150 per head will be treated as a benefit in kind and taxed accordingly.
Unless it is the annual staff party make sure you check the trivial benefit rules before reporting onto your PSA/P11D.