Tax relief for networking day out?

Tax relief for networking day out?

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Am just about to enter the racecourse where I've been invited by another acc firm for hospitality box, lunch, drinks and gambling.

Will the taxman pay 20% of the cost of drinks and bets?
I hate gambling and have to feign interest with any of my horse related clients so arguably no personal benefit to me so I don't think w and e is a problem.

Genuine question. Noted that any winnings would be taxable on my company!

Replies (13)

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By duncanedwards
17th Apr 2015 12:15

Doubt the taxman will pay anything, to be honest.

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By JCresswellTax
17th Apr 2015 13:02

Nope

Would class this as simple entertaining Mike.

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By mwngiol
17th Apr 2015 13:10

Agreed

It's a non-starter

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By MissAccounting
17th Apr 2015 13:19

I'll give you 100-1 that you cant get this over the first hurdle with the taxman?

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By HeavyMetalMike
17th Apr 2015 18:19

I knew you'd say that! Well I'm gonna shove 4.70 through and if tax man wants to fight over 94p then he can fight me.

Ps, looking around this train of drunk charlies it only reinforces my view that horse racing and gambling is all bollx.

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Replying to RedFive:
By Tim Vane
18th Apr 2015 01:48

So what is the limit then?

HeavyMetalMike wrote:

I knew you'd say that! Well I'm gonna shove 4.70 through and if tax man wants to fight over 94p then he can fight me.

Ps, looking around this train of drunk charlies it only reinforces my view that horse racing and gambling is all bollx.

Just so we know, at what amount do you think you would refrain from making an overstated tax deduction. You are perfectly aware that the travel is not W&E, but seem happy to defraud the exchequer of that 94p.  Would £94 also be acceptable? What about £9,400, or would you baulk at that? And would that be on moral grounds or just because you think HMRC would be more likely to want to fight over it?

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By Portia Nina Levin
24th Apr 2015 15:59

(No subject)

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By User deleted
18th Apr 2015 10:22

Just a moment

Who is paying for what? The OP says that he's been invited under hospitality. It doesn't sound very hospitable to then ask the guest to pay for his own drinks, steaks and stakes.But if the OP's company does indeed have to finance his day out, it should be fully allowable for CT. As for P11D matters ...

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By Portia Nina Levin
24th Apr 2015 15:59

(No subject)

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Replying to arowson:
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By HeavyMetalMike
18th Apr 2015 13:03

I had to fork out a whole £4

I had to fork out a whole £4.70 for return train. My company paid that, ie me.

Everything else was free.

Golly there are some mean spirited accountants on this forum, Mr Vane. It's 94p. And that's why I'm not thinking not to. It's travelling costs for business purposes.

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By User deleted
18th Apr 2015 18:13

So, what is the issue?

"Everything else was free"

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By Bungo
19th Apr 2015 06:18

Gosh
This thread was about 94p tax saving?

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By SimonLever
20th Apr 2015 13:16

.

Looks like someone is flogging a dead horse!

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