chartered certified accountants
Can you believe it’s that time of the year already?
If you’re looking to get your staff gifts this Christmas, you’ll be pleased to learn that you might be able to do it tax-free! Since April 16, employers have been allowed to provide their staff with particular “trivial” benefits, tax-free.
Not only do certain benefits not need to be reported to HMRC, they can also be tax-free for the staff receiving the gift too.
This tax exemption only applies under certain conditions, however;
Not only does this exemption apply to small staff gifts at Christmas, but it also applies to staff birthdays and other occasions – and can include gifts of food, wine, or store vouchers.
Disclaimer: This blog and the information it contains, do not constitute advice from Asquith & Co. We are not responsible for any action taken by the reader, and if the reader acts on this information, they do so at their own risk. If you would like assistance with any of the matters contained in this blog or with anything else, contact us on 01723 366102.