FUZE Accounting

Its the Christmas season so here is run down of the HMRC rules surrounding gifts and parties....🎊🎁

Thinking of giving your staff gifts this Christmas? As long as the gift is considered "trivial," there will be no Tax or National Insurance to pay. What's more is there is there no limit on the number of trivial gifts given😁

A trivial benefit is any gift that costs £50 or less, including VAT and delivery. This could include items like a bottle of wine, a bouquet of flowers, or a box of chocolates. Just ensure it is not performance related!

With the Christmas Party season fast approaching, you may be wondering what qualifies as a staff Christmas party. More importantly, we’ll explain how to ensure the costs are deductible for corporation tax and that no tax or National Insurance is charged to your employees.

Generally, entertaining staff is a tax-deductible expense for the business, and this includes costs for staff and their partners.

However, entertaining non-staff, such as customers or suppliers, is not tax-deductible.

For events where both staff (with their partners) and non-staff (such as customers) attend, the costs must be divided and apportioned accordingly.

A Christmas party is not taxable for staff, provided it meets all of the following conditions:

- It must be an annual party or social event, like a Christmas party or summer BBQ.
- It must be open to all staff members.
- The cost per person must not exceed £150, including VAT (per year, not event!)

So whether you're a Ltd company or a Sole Trader, treat yourself and your teams to a festive get together🥳

If you need help with your Self Assessment or annual accounts filing, don't hesitate to get in touch with [email protected].

Sole Traders – Let Us Handle Your Self-Assessment! 🚀

Running your own business is challenging enough without the headache of tax returns! At Fuze Accounting, we specialize in helping sole traders navigate the world of Self-Assessment with ease. ✅

With the deadline for submission fast approaching – 31st January 2025 – now is the time to get ahead and ensure your tax return is filed on time. Here's how we can help:

🔹 Hassle-free Self-Assessment submissions
🔹 Expert advice on allowable expenses and deductions
🔹 Timely filing to avoid penalties
🔹 Year-round support for all your accounting needs

Don't leave it until the last minute! Let us take the stress out of tax season so you can focus on growing your business. 🌱

Get in touch today to book your consultation or find out how we can help make your Self-Assessment a breeze! 📞01206 803999 or email [email protected].

👉 https://fuzeaccounting.co.uk/

Such an amazing cause, looking forward to the Christmas journey with Oakheart Property - Estate Agents💚

🎄Christmas is coming 🎄 ...⁠
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🚂 All aboard for a festive journey! ⁠
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Stay tuned for exciting stops along the way including events and giveaways throughout the festive season. 👀⁠
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If you are self-employed, a company director or dealing with various income sources you need to complete a detailed Self Assessment tax return.
The deadline for filing your Self Assessment tax return is 31st January, but there are a number of other deadlines relating to Self Assessment throughout the year. To help you avoid any nasty surprises, Fuze Accounting has put together a guide to the most important dates.
Missing these deadlines can result in penalties, but we’re here to help.
Whether you're unsure about filing or just want peace of mind, FUZE Accounting can take the stress out of the process and ensure your tax return is compliant and accurate.

Need support? Contact us at [email protected] or visit our website to learn more!

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After 25 incredible years working for others, I’m thrilled to announce the launch of my own business! 🎉
This journey is a culmination of passion, experience, and a desire to create something meaningful.
At Fuze Accounting, we’re all about making your financial journey smoother and stress-free. Whether you're a sole trader or a small business, we’re here to provide customized accounting solutions designed specifically for your unique needs
Drawing on decades of expertise, we're committed to providing exceptional quality and personalized service to every client.
This new chapter is all about embracing challenges and fostering connections. I can’t wait to share my journey and invite you to join me in this exciting adventure!
Thank you for the support as I step into this new role. Here’s to new beginnings! 🚀