Take care of bribery law, warns PwC
Midlands businesses are being warned to take note of bribery laws before sending or receiving corporate Christmas gifts this year.
Now that the UK's Bribery Act is in full force, forensic experts at accountancy firm PwC have urged companies to "take care" when sending and accepting gifts.
The Act, which has given the UK one of the most stringent anti-corruption laws in the world, has introduced radical changes which could have a significant impact on corporate gifts to customers and clients.
John Tracey, partner and forensic services expert at PwC in the Midlands, said: "Christmas is the peak season for client and customer entertaining and gift giving but companies would be wise to ensure their policies in this area are adequate and properly enforced."
Tracey suggested that a lavish food hamper or cases of champagne would be inappropriate, but added that company branded, low cost merchandise and invitations to a "modest" Christmas party or lunch would likely pass the test.
According to guidance from the Ministry of Justice, promotional expenditure which is "reasonable and proportionate" should not cause problems but no monetary levels are indicated.
