Your Total Guide To Business

I want my Company to pay the Golf Club membership for my staff as a gift. Can I provide it as a benefit?#AskAMS

I want my Company to pay the Golf Club membership for my staff as a gift. Can I provide it as a benefit? I understand it’s allowable even for Directors. Are there consequences?

Your Company could pay the membership – and it would obtain tax relief, and reduce your Corporation Tax bill. But, it would be a taxable Benefit in Kind (BIK) for you and your staff. The BIK would have to be divided in a fair way – perhaps the number of times anyone uses the club. You would all have to pay extra income tax – and your Company would have to pay extra National Insurance.

If you take customers to the Club, it could reduce the taxable BIK - because some of the cost would count as entertainment (which is itself not tax-deductible). Basically, either way, there are tax consequences.

Doubletree by Hilton Swindon (Animated Ad)

We recommend

VAT – zero rated vs exempt#AskAMS

Zero-rated VAT is applied to things like food, children’s clothes, and books etc. Also if selling abroad, say to the ...

Which is best for VAT - Cash or Invoice based Accounting?#AskAMS

Comparison of benefits of each scenario when using Cash or Invoice based accounting.

MTD Quick-fire Q&A for Contractors#AskAMS

There are so many aspects to consider for Making Tax Digital: when it is coming in as the law; the ...

What to do when you receive a VAT assessment#AskAMS

HMRC will send you a VAT assessment when you are late submitting your Vat Return.

What is the impact of goodwill when turning your business from a Sole Trader to a Limited Company?#AskAMS

At one time there were tax advantages to putting a high value on goodwill when incorporating a Sole Trader business ...

Tax Relief on Pensions Explained#AskAMS

There are a few issues that we regularly see around the subject of tax on pensions:

What expenses can I claim through my Company on top of mileage while I’m working away?#AskAMS

Describing expenses that can be claimed while working away from home.

How Limited Company Dividends work#AskAMS

An introduction to Limited Company Dividends - profits are paid out of the Company as dividends to shareholders when proposed ...

What expenses can I claim against my rental property?#AskAMS

Reduce your tax bill through allowable expenses on rental property income. Here is a list of tax deductible expenses that you ...

Unscrewed Systems Network (Leaderboard Ad)

Let's Talk

I want my Company to pay the Golf Club membership for my staff as a gift. Can I provide it as a benefit?#AskAMS

I want my Company to pay the Golf Club membership for my staff as a gift. Can I provide it as a benefit? I understand it’s allowable even for Directors. Are there consequences?

Weather in Wiltshire