Calls to pass on Christmas party benefit to staff
The annual work Christmas party is likely to look very different this year and many businesses have been sharing their plans for online end of year celebrations. In a recent survey it was found that 89% of UK businesses are planning remote festivities with their teams.
Currently, businesses can have a tax-deductible Christmas bash worth £150 a head if the event is open to all staff and is designed for team-building purposes. In addition, employers are also allowed to give a tax-deductible gift of up to £50, which can include things such as a bottle of wine or Christmas meal. It is thought that MPs are lobbying the Chancellor to allow organisations to transfer the money to employees as a Christmas gift and thank you. The effect of this would be give employees something back, whilst not costing the employer anything in an already tough year.
That said, it is still vitally important that businesses don’t just “cancel” Christmas and find a way of celebrating and saying thank you – even if it does have to be virtual.