Entertainment Tax Reviews
We carry out Entertainment Tax Reviews for businesses across the UK to ensure their accounts comply with the complex HM Revenue & Customs (HMRC) entertainment expenses and benefits procedures.
Entertainment expenses and benefits are a target for HMRC due to the tax complications caused when this kind of expenditure is not identified and coded correctly by companies.
With experience working as an Inspector of Taxes behind us, we have an expert understanding of HMRC's entertainment tax coding system and what constitutes entertainment expenditure.
This specialist knowledge means we can review your entertainment expenses and benefits and ensure your company shows full compliance with the existing HMRC entertainment tax rules and guidelines.
There are various and numerous corporate tax, income tax, VAT and National Insurance contribution requirements connected to your own and your company's entertainment expenditure.
For example, if you provide food, drink, gifts or other hospitality to your employees or company directors, you will need to report it to HMRC and work out and pay Class 1 or Class 1A National Insurance contributions.
Alternatively, certain entertainment expenses can be covered by a dispensation which means you don't have to report or pay anything to HMRC.
All our Entertainment Tax Review services are competitively-priced and we will work on an hourly basis or under a fixed fee arrangement.
We can assist you with any kind of entertainment tax, expenses or benefits enquiry and also provide a range of other Tax Risk Management services with further information available on the following pages of our website:
If you're facing problems with entertainment benefits and expenses and want to find out about our Entertainment Tax Reviews please contact us on 0845 409 4955 or at advice@palmerandcook.com.