I know we have mentioned these before, but this is good time to make use of them.
Trivial benefits continue to be very popular and are frequently given by employers to directors and employees. You can make use of the tax-free status of these gifts at Christmas. But they can be given on other occasions as well.
1. Christmas hampers
2. Boxes of fireworks
3. Meal vouchers
4. Tickets to the theatre
5. A very good bottle of wine/champagne
In order to qualify for tax free status it must:
- Not cost more than £50 to provide (including VAT),
- Not be a shopping voucher that can be redeemed for cash,
- Not be a reward for service,
- Not be an entitlement in the employee’s contract,
- Not be reimbursed.