A Nantwich accountancy firm has highlighted how South Cheshire employers can treat their staff and stay on the right side of the taxman by staging virtual Christmas parties this year.<\/p>\n
Barringtons Chartered Accountants has handled many enquiries from firms looking to host a festive bash online while still being eligible for a \u00a3150 \u2018per head\u2019 tax exemption.<\/p>\n
Managing director Phil Wood said: “The pandemic continues to impact our lives in many ways. One casualty is the traditional works\u2019 Christmas party.<\/p>\n
“In the past this has been the chance to get everyone together, forget how good or bad the previous 12 months has been and have a jolly good time.<\/p>\n
“For obvious reasons this is not possible in 2020. Instead, many businesses are looking at alternative ways to celebrate Christmas with the team and one way is via a virtual party.<\/p>\n
“Employers can provide their team with food, drink, and whatever else might make it a good night and gather in front of Zoom or some other chat room to raise a glass to Christmas.<\/p>\n
“Many will already be aware of the \u00a3150 per head tax-free exemption that is available for annual events. This is usually taken advantage of for the Christmas party – although it could apply to the annual summer barbeque.<\/p>\n
“There was some question over whether a virtual party would qualify for the \u00a3150 tax exemption but fortunately HMRC has confirmed it will.<\/p>\n
“Certainly this year there is every reason to round the year off on a happy note and look to a brighter future.<\/p>\n
“Employers just have to ensure they don\u2019t exceed the \u00a3150 per head or the whole lot will be taxable.”<\/p>\n
Earlier this year Barringtons became one of the first accountancies in the UK to publicly commit to making the world a better place through the \u2018Accountants for Good\u2019 programme.<\/p>\n
It continues to host free business support sessions focusing on topics such as cash flow, reducing overheads, short term funding, new customer acquisition and growth.<\/p>\n
The Zoom events will run into the New Year and the next on December 22 is a Xero User Workshop highlighting the benefits of cloud-accounting.<\/p>\n