BVEP - Business Visits and Events Partnership

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BVEP Renews Campaign for Christmas Party Exemption

The Business Visits & Events Partnership (BVEP) has continued its campaign to government to increase the tax exemption for annual corporate functions and events or the 'Christmas Party Exemption'.

In a letter on behalf of the Partnership, Chairman of the BVEP, Michael Hirst laid out 'A Budget Proposal To Incentivise Britain's Workforce And Help Britain's Events And Hospitality Industries.' The proposal requested that the department reconsider an exemption that applies to annual functions and parties provided by employers to their employees.

Previously the Treasury had considered the proposal but not included it in the Autumn Budget. However, with increased emphasis supporting and growing the events sector in Britain from The Prime Minister, Secretary of State, Sajid Jarvid, and Tourism Minister Helen Grant, the BVEP has resubmitted the proposal.

The often-named 'Christmas Party Exemption' was last reviewed in 2003 when the charge was raised by £75 to £150. Now the BVEP has asked for this to be raised to £300. 'The increase providing a stimulus for the growth of the Events and Hospitality Industries, while providing motivational benefits to companies that take advantage of the exemption.'

In the letter, Hirst outlined that. "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."

The Christmas Party exemption was also included in the 'Events Can Win for Britain' manifesto, which is currently being distributed to government departments ahead of the general election.

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Notes to Editor:

The Business Visits and Events Partnership is an umbrella organisation representing leading trade and professional organisations and agencies and other significant influencers in the business visits and events sector. The Sector includes meetings and conferences, exhibitions and trade shows, incentive travel, outdoor events, corporate hospitality sporting and cultural and music events and festivals.

The total value of the Sector as measured by direct expenditure is £39.1 bn. A further £7.7bn. is spent by accompanying visitors. In total this is equivalent to 35% of the UK visitor economy. Additionally the Sector is a catalyst for trade, exports and inward investment at business events and exhibitions, and cultural festivals create regeneration, destination investment and promote community cohesion and destination profile. The businesses in the sector export their professionalism, expertise and creativity which are a strong hallmark of Britain's event skills.