Accounting, Benefits, corporation tax, Taxation

Get Yourself A Tax-Free Gift

Did you know that as a limited company director, you could get yourself and your employees (if you have any) gifts several times a year and have the cost treated as tax-free?
The caveats (yes, there are always some) are that they can’t be:

  1. cash or cash vouchers
  2. contractual entitlements
  3. rewards for performance/effort
  4. £50 or more

In tax terminology, these gifts are called trivial benefits and can occur many times a year, except for directors when the annual limit is £300. So, go get yourself a bottle of something …on your company.

About Phoenix

Accountant | Tax Specialist | Dreamy Entrepreneur | Blogger

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