New Forest Ribbon
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

Businesses have until 8th August to apply for grant funding for innovative projects designed to reduce the costs of deploying carbon capture, usage and storage technology https://bit.ly/3BrWsxm

The 5th and final SEISS grant is now available and can be claimed for the period of May to September 2021. https://bit.ly/2UpkqJf

Let’s Talk

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