Rent a reasonably priced private room in a local pub and get them to fix up a long table. Put a white paper tablecloth on it. Make sure everyone brings a bottle of wine from a pre-prepared list. Set out the wine and glasses.
Ask the pub to provide you with a variety of canapes to go with the wine-tasting at a price to suit your budget. The remainder of your budget should be enough to buy the wine selection.
Perhaps one of your work colleagues is a bit of a wine expert and would be willing to set up the tasting session, acting as a sort of consultant and judge.
However, let's remember it's Christmas, and not get too serious about it. And because times are hard, if you do have a wine-tasting that involves guessing the year, then your variety of wines might prove a bit expensive. And actually, do we really care that in 1950 a French vineyard was riddled with beetles or the vintner changed the barrel in 1990?
Much better to put everyone into teams, have a good laugh, and get them to write down their answers.
For instance is it Spanish, French, Italian, Australian, Californian or English. North side of the vineyard? Tesco, Sainsbury's or Morrisons? Which wine is recommended for cheese, chicken, chocolate, etc? Which one is the best budget wine? Which of these wines goes best with fava beans? (...er, that a 'nice Chianti' if I remember rightly). You get the picture.
Don't worry if you can't think of questions or combinations - there tons of wine-tasting fun games on the market to help you out.
You could have a bit of 'wine-drinking music' in the background too, for atmosphere - maybe some French with a bit of accordian music thrown in, or Spanish with guitars and castanets. Or even stuff like Dean Martin singing, Little Old Wine Drinker Me etc.
This is great fun - and you can learn a (little) bit about wines too!