BVEP renews campaign for 'Christmas Party Exemption'

The Business Visits & Events Partnership (BVEP) has written to the government calling for the tax exemption for annual corporate functions and events to be raised to £300.

BVEP wants the tax exemption for corporate Christmas functions to be raised to £300
BVEP wants the tax exemption for corporate Christmas functions to be raised to £300

BVEP chairman, Michael Hirst, wrote the letter on behalf of the partnership and laid out a budget proposal requesting the department reconsider the tax exemption for annual functions and parties provided for employees by their employers.

The Treasury had considered the proposal previously, but it was not included in the Autumn Budget, but the BVEP has resubmitted it with increased emphasis from the Prime Minister, Secretary of State Sajid Jarvid, and Tourism Minister Helen Grant.

Hirst’s letter claimed that when the tax exemption charge was first raised by £75 to £150 in 2003, the increase provided a "stimulus for the growth of the events and hospitality industries, while providing motivational benefits to companies that take advantage of the exemption".

The letter continued: "This small change would allow and encourage employers to provide greater incentive and motivation to employees and as a result stimulate much needed productivity in the economy."

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