As 2023 draws to a close, many employers will be looking for ways to reward their hard working teams. But how can you do that in a tax-efficient way that benefits both you and your employees?
Thankfully, showing your appreciation doesn’t need to cost the earth. In most cases, work Christmas parties and gifts for staff members are tax-deductible.
However, it’s essential to understand the tax rules surrounding annual events and gift-giving. Overspending on festivities won’t just eat into your bottom line; it can also have tax implications for your employees.
In our guide, we’ll help demystify the tax treatment of your end-of-year celebrations and help you reward your team in a tax efficient way.
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If you would like further information on tax and your work Christmas party, please contact us.