01 December 2021
I am working in IT (Information Technology) company and they have planning outside trip every year for employee's , So can company book trip expenses (i.e Bus Rent, Hotel Rent, Food Expenses) in there books of account. If yes what is the expenses limit.
01 December 2021
Yes, reasonable expenses allowed. Staff entertainment is an allowable expense for corporation tax purposes provided that it is wholly and exclusively for the purposes of the trade. Common examples of this are meals, parties or other entertainment undertaken to boost staff morale.
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