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

In 2018, almost 1.4 million businesses employed staff members. For those small businesses, operating the payroll can be time consuming without dedicated resource https://t.co/z2Xx3wqfGh

As of 1 January 2019, there is a temporary increase in the Annual Investment Allowance (AIA) to £1 million https://t.co/tL4X45bFlk

Let’s Talk

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