So today is quite a simple blog to be honest, but I felt the need to quickly write this to dispel a common ‘tax myth’ that I come across very often.
Many people believe that when they are self-employed and trying to impress a new client, that they can take them out for a luxurious meal, spend a tonne of money, then slap their business payment card at the end and say “not to worry, this one’s on the business!”. Well my friends I’m afraid this is no longer the case.
If you’re out for a business meal then you are of course within your right to claim back your share of what you personally had at that meal since you were ‘solely and exclusively’ there for the purpose of progressing your business. However whatever share of the bill is for your client, then this cannot be claimed. So if your client decides to have lobster and caviar followed by champagne then that is coming out of your own pocket…so you may want to just get the garden salad!
I hope that helps and if you want anymore information just contact me at firstname.lastname@example.org
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