Bit of fun…

Being a one person ltd company:

  • I can have a Christmas party for all employees (me);
  • invite my wife or partner (but not both!)
  • spend and get tax relief on it.
  • there is no taxable benefit in kind as I stayed with the rules
  • If I had tried to spend out any other way then I could easily be paying a marginal FBT.
  • So I can take the partner out for a nice meal knowing that the tax man is effectively funding our meal (and they don’t need to know that either).
  • I feel good, partner feels good. Success.

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