New Forest

13/09/2017

Trivial Benefits

Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied:

  • the cost of providing the benefit does not exceed £50;
  • the benefit is not cash or a cash voucher;
  • the employee is not entitled to the benefit as part of their employment conditions; and
  • the employer does not provide the benefit in recognition of particular services provided by the employee.

Where the employer is a close company and the benefit is provided to an individual who is a director or other office holder of the company (or to a member of their family or household) the exemption is capped at a total cost of £300 in the tax year.

For further information on Trivial Benefits, please contact Alan Rolfe on 023 8046 1200.

Latest Tweets

From April 2020, business insolvencies will be handled differently with HMRC gaining preferential treatment over providers such as banks https://t.co/4KENSytaDL

First of many talks today at #xerocon2019

Let’s Talk

Why not arrange a FREE consultation and find out what we can do for your business.