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Festive tax hangover alert

Employers are being warned by tax experts Grant Thornton to consider the true cost of Christmas festivities in the workplace to avoid a sobering bill from HM Revenue and Customs in the New Year. Generally, tax relief is only available for annual parties that are available to all staff, limited to £15 (VAT inclusive) a head. If the cost exceeds £15 a person, then the whole amount is taxable as a benefit in kind, not just the excess.

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