Here’s a timely reminder about Trivial benefits.
As business owners, if you want to show your team a bit of extra appreciation at this time of year. the good news is that you can give each employee a gift up to £50 including VAT, totally tax-free.
Remember the rules: the gift isn’t cash or a cash voucher; it isn’t a reward for their work or performance; and it isn’t in the terms of their contract.
That means:
- No Income Tax or National Insurance
- No HMRC forms
Just a simple, thoughtful “thank you” that doesn’t come with a surprise bill in January.
If you’re unsure what counts or want to make sure you’re making the most of the Trivial Benefits allowance this year, we’re always here for a chat.
Need help? We’ll guide you through it.
If you want to discuss any tax planning, need help with your payroll or self-assessment then please contact us here, by phone on 01293 458311
