Corporate Hospitality With Eventmasters
With fierce competition for commercial investment, the importance of differentiating your business from others can be the deciding factor between success and failure. The key to good business fundamentally lies within the ability to forge and maintain strong relationships with valuable stakeholders.
Engagement with clients away from the busy office environment demonstrates an interest in developing a more personal relationship with third parties, dispelling the myth that relations centre entirely on business concerns.
By harnessing your focus on a ‘return on experience’, rather than the traditional ‘return on investment’ framework, companies can discover and sustain long-lasting client relationships, founded on joint experiences and memories. Sharing high quality, memorable experiences is an effective means of establishing a more personal rapport with individuals.
At Eventmasters, we consistently aim to excel in providing an unrivalled hospitality service, tailored to entertaining valuable clients and guests. Having celebrated our 30th anniversary in 2015, we have firmly established ourselves as one of the longest serving providers of hospitality packages – in short, we are a business to rely on.
Acting as an official hospitality provider for events such as Royal Ascot, the Six Nations at Twickenham and the Henley Royal Regatta, we certainly provide something to suit to everybody’s refined tastes.
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Corporate Hospitality FAQs
Why Corporate Hospitality?
Corporate hospitality gives companies the opportunity to demonstrate a side of business that clients would be unlikely to sample from a standard boardroom pitch. This can be particularly beneficial when considering new business or potential investors.
This can mean focusing on the intricate benefits of your product or service for your client by hosting high-quality and corporate events which can leave a positive impression and strongly influence brand values. Word of mouth is undeniably the cheapest and most trusted form of promotion, with The Hospitality Report stating that 52% of senior UK managers believe that corporate hospitality is incredibly effective in enhancing brand value.
Is client entertainment tax deductible?
Your company can pay for entertaining clients or potential clients, but this will not be an allowable deduction for Corporation Tax purposes. It may still be worth paying from the company however, as it saves you the income tax that would otherwise be paid when withdrawing the funds to pay the costs on a personal basis.
It does not make a difference if the person being entertained is an existing customer, a potential customer, or any other member outside of the business. The VAT element of entertaining can only be claimed when it relates to staff. This does prompt a further element of caution however – if the staff member is the acting host, with a purpose to entertain a client, then, as mentioned above, no VAT may be reclaimed.
Can Corporate Hospitality be perceived as bribery?
The Bribery Act 2010, introduced on Friday 1st July 2011, is amongst the toughest anti-bribery and corruption legislation in the world.
The publicity surrounding the introduction of the Act created concerns about how this could potentially impact on hospitality packages and other promotional activities. Such concerns appear to be overstated however.
The Government state it is not the intention that genuine hospitality packages or reasonable and proportionate business expenditure should infringe the legislation. You can continue rest assured that providing genuine hospitality packages is without legal consequence. The intention of the legislation is to catch hospitality packages which pose as a discrete cover for bribing an individual.
At Eventmasters, we commission Shoosmiths to provide a full report on how the Act will affect a company when choosing to offer hospitality packages to clients.