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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.
Barringtons Chartered Accountants has handled many enquiries from firms looking to host a festive bash online while still being eligible for a £150 ‘per head’ tax exemption.
Managing director Phil Wood said: “The pandemic continues to impact our lives in many ways. One casualty is the traditional works’ Christmas party.
“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.
“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.
“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.
“Many will already be aware of the £150 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.
“There was some question over whether a virtual party would qualify for the £150 tax exemption but fortunately HMRC has confirmed it will.
“Certainly this year there is every reason to round the year off on a happy note and look to a brighter future.
“Employers just have to ensure they don’t exceed the £150 per head or the whole lot will be taxable.”
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 ‘Accountants for Good’ programme.
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.
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.
Barringtons, a Platinum partner with Xero and QuickBooks, has helped many local businesses switch to cloud-based systems freeing them from time-consuming paperwork, receipts and spreadsheets.
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