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So if a company took a potential client or investor out for coffee and a cake, then it is not tax deductible. But would the coffee/cake be tax deductible for the director entertaining that person...after all, they are not a client?
It is treated as a whole transaction so none of it would be allowable.
So if a company took a potential client or investor out for coffee and a cake, then it is not tax deductible. But would the coffee/cake be tax deductible for the director entertaining that person...after all, they are not a client?
It is treated as a whole transaction so none of it would be allowable.