Posts Tagged: director’s

Claiming VAT on entertaining on Valentine’s Day

Claiming VAT on entertaining non-staff is usually not allowed, but there are certain times when you can do it.     The input VAT is usually not claimable on the costs of entertaining non-staff. This rule also applies to staff whose role is to look after the guests and make sure they enjoy themselves.   It… Read more »

A Christmas gift from the VAT man

The corporation tax rules for clients gifts are well known, but what about the VAT rules?     The corporation tax rules for entertaining clients or giving them gifts say that the gifts have to: Advertise to the public (i.e. a free sample) or Cost under £50 and include an advert for the company.  … Read more »

Reduce the cost of borrowing from your company

A director can borrow £10,000 from their company interest free. However, there are strict anti-avoidance rules which mean that the company has to pay.     As the director shareholder of a company the net value of assets belongs to you, however, in law the company is a separate person. This means when you take… Read more »