Christmas / 3 posts found
Not so trivial
Options for reducing the impact of taxation on our earnings are somewhat limited. That said, there are still opportunities that will keep you the right side of the law and will increase the take home pay of employees. One such opportunity available to employers is to pay so-called trivial benefits. The benefits may be of small value, but never-the-less, even small tax-free payments will be gratefully received. To qualify as tax-free, the benefits paid to employees need to fit the following criteria: they cost £50 or less to provide, the payments are not made in cash or by [...]
December 2010 Questions and Answers
This is a round-up of questions that have been raised by clients over the past few weeks. They are being posted here for general information, but please see the disclaimer at the end!!! Meals provided for employees Q: I own a gift shop and we are now opening longer hours in the run up to Christmas. On certain days this means opening late at night and we are now opening on Sundays too. I need my staff to do additional hours during this busy period and want to pay for their meals when they are working longer hours than usual. If I [...]
Christmas Tax Tips
Guidance on Christmas Parties and Gifts Wit the year-end fast approaching this seems like a good time to remind everyone of the tax surrounding tax and VAT when it comes to Christmas parties and giving gifts to customers and staff. Staff Christmas Parties An employer can pay up to £150 per head per tax year for the provision of a Christmas party or similar annual function, with no liability to income tax arising on the employee. The cost per head must include the cost of the actual party or function (including room hire, food and drinks, entertainment and any other [...]