You may already think that the costs of business entertainment are not tax deductible. But did you know there are certain exceptions, such as a business meeting with a client over lunch?
To make sure that you don’t miss out on these legitimate claims please ensure that all travel costs relating to business meetings are fully itemised and not recorded as entertainment. HMRC’s business income manual confirms this type of expenditure is allowable. Providing that the main reason for the meeting is to discuss business there is no reason not to claim for the costs against your corporation tax bill.
If you would like to discuss this further, please contact us on 01782 279615.