No matter how well you’ve planned in advance of the Christmas flurry or whether you’re still taking care of last-minute items, be aware of what you can claim tax deductions for, or where you might be liable for tax. For instance, in a quick quiz, could you answer questions like:

• Is our Christmas work party tax deductible?

• Does it matter whether it is held on business premises?

• How about hiring items for a Christmas party?

• If I take my clients or staff out for Christmas lunch, is it tax deductible?

• Are my gifts to staff and clients tax deductible?

• My staff can’t use public transport due to public holiday schedules. Is a transport allowance for them tax deductible?

• Will I need to deduct PAYE from the allowances paid?

• What is the tax treatment of cash bonuses for staff?

Click the link below for answers to the questions above.

And call us if you have tax questions in the lead-up to Christmas.