Can I claim business entertainment as an expense ?
Business entertainment would include for example:
1 Food and drink for clients
2 Bottle of wine gifts at XMAS
3 Paying for dinner for potential client
Under tax law ( S.840 TCA 1997 ) there is no deduction for any business entertainment which basically means if you have say a profit of 50k and you have 2k for business entertainment then you add back the 2k and you are taxed on the adjusted figure of 52k
Note however staff entertainment such XMAS dinners are allowed but not if you also invite clients.
Subject to conditions
Any queries on above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie