The tax rules for entertaining businesses are clear. Whether payment for lunch with a customer or tickets for a sporting event — whatever the reason, with few exceptions, any cost incurred for entertaining is not an allowable expense for tax…

Most businesses know that once the tax turnover for a business exceeds the VAT registration threshold (currently £85,000 a year), or it is expected to do so within the next 30 days, VAT registration is compulsory. Some businesses are not…