Can My Company Claim Awards Expenses? | LMO Bookkeeping Explains the Tax Side of Business Awards

Awards season is upon us - finalists for the LUCA's and Female Business Awards are especially exciting for us at LMO Bookkeeping Limited. We love celebrating success for our clients and ourselves, they're a brilliant way to showcase your achievements and get the sparkles out! But once the excitement settles, many directors find themselves wondering...

“Can my company actually claim any of this back?”

The good news is: in most cases, yes! Let’s break it down in plain English.

If your company pays entry or nomination fees, these are usually classed as marketing expenses. You’re promoting your brand and gaining visibility — which means it’s a genuine business cost. The same applies to any design, printing, or photography you commission to promote your award entry or to shout about your win afterwards. Think glossy certificates, website updates, or a shiny “Award Winner” badge — all part of your marketing toolkit.

If you or your team attend an awards evening, your travel and accommodation costs are normally allowable too, as long as the trip is purely for business purposes. That means travel to and from the event, overnight stays if needed, and reasonable meals along the way. Just be sure to keep your receipts and note the business reason for the journey. (And no, sadly, HMRC won’t fund a weekend spa break disguised as an “award night recovery”!)

Now, a common grey area is event tickets and gala dinners. If your team is attending to represent the company or celebrate your success, this can often be treated as a legitimate staff cost. However, if clients are involved and the evening becomes more of a hospitality event, HMRC is likely to view that as entertainment, which is generally not deductible. It’s always best to keep clear records of who attended and why, just in case you ever need to explain it later.

What about the prize itself? If your company wins a cash award, that’s considered taxable income and needs to go through your accounts like any other trading receipt. Non-cash prizes, such as equipment, vouchers or services, should also be recorded at their fair market value. It might not be the most glamorous part of winning, but it keeps everything compliant — and that’s what matters.

Picture at the Female Business Awards, hosted by Janine Friston, celebrating achievements and empowerment in style.

What HMRC says on the issue:

The golden rule with HMRC is that every expense must be “wholly and exclusively” for the purpose of the business. If there’s any personal element, that portion can’t be claimed. So keep things clear, business-focused, and well-documented.

So yes — celebrating your success can be tax-efficient too! Entering awards isn’t just good for your reputation; it can also make financial sense when handled correctly.

At LMO Bookkeeping Limited, we make sure limited companies like yours understand what’s claimable, what’s not, and how to record it properly. Because while we can’t promise to help you write your acceptance speech, we can make sure the tax side of your win is handled perfectly.