Day 6 of Christmas

 

A £50 gift to yourself and your staff! If you are a Limited company, then you can give yourself a gift at Christmas as the company is giving the gift and not you! You can also give gifts to your employees. The limit is £50. This counts as a trivial benefit exemption so no Tax or NI is payable. But this does not apply to cash – so it must be a gift. Non-cash vouchers up to £50 may be exempt under the trivial benefit rules. Where the voucher exceeds £50, you will need to report these on a P11D form to HMRC. So, a couple of bottles of wine and some chocolates would count as a trivial benefit. Unfortunately, still gifts to employees are not a tax-deductible expense for the business.

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