Millward, May & Co - Wokingham Accountants
Wokingham Accountants

Q&A

Questions & Answers

Can I expense a harpoon gun?

Henry N: Can I expense a harpoon gun?

Millward May: We get this question a lot!! ;)

Any expense needs to be wholly and exclusively for business use. If the harpoon gun was 100% used for business purposes, then it could be claimed. For example, you could claim it for a children’s games room business - this is assuming its a toy harpoon gun!!

If your business employs people you can actually buy your staff small gifts under £50 that are tax free and 100% claimable. You don’t have to pay tax on a benefit for your employee if all of the following apply:

  • it cost you £50 or less to provide

  • it isn’t cash or a cash voucher

  • it isn’t a reward for their work or performance

  • it isn’t in the terms of their contract

There is a limit of £300/year for directors though as I’m sure you’d agree that they’d be buying 365 harpoon guns a year through the business if HMRC didn’t put a limit on it!

Millward, May & Co