Annual staff events

Accounting
1

Hi Team,

need your help=)

If an annual staff event (£150 per head allowance) is paid in this tax year (towards end of March) but the event is actually happening next tax year (April or May) how is it treated? Does it become part of 2016-2017 or 2017-2018 accounts?

cheers,
al

2

If your year end is same as fiscal year then it is prepayment and will become cost in 17-18