UK SMEs cut Christmas party budgets by 10% amid financial pressures, unaware of tax benefits.

UK small and medium-sized businesses are cutting Christmas party spending by 10% due to financial pressures like the new Labour government budget, rising costs, and higher taxes. Despite the cuts, the average SME will still spend £1,353 on celebrations, shifting from lavish events to simpler meals or drinks. Business owners are largely unaware they can claim back £150 per employee in tax for these events.

November 28, 2024
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