![]() ![]() ![]() Most of the clients we’re talking to are cancelling their Christmas do, but it doesn’t mean you can’t have a little event. Normally you’d have a big Christmas party at the end of the year, but as we know now, that’s off the table. A family-sized voucher or gift card for a home delivery service gives your staff one big guilt-free night in. With so many of us making the most of the great indoors since lockdown, we’re noticing a few more charges from Just Eat and Uber Eats on the monthly bank statement. Companies like Laithwaites and Virgin Wines offer at-home delivery services that make it possible to sort out some casual wine-tasting at home. ![]() One way to keep it fresh is to try some new wines (or beers!) together. That could be direct online spending, or an online exchange to trade the funds for another selection of gifts.įor plenty of our staff, a bottle of wine over Zoom with friends and family has become a weekly staple. They also often come with an online option. You can get them branded to your company’s look so they’ll be more effective at generating gratitude. Gift cards function almost exactly like a voucher, but with some key advantages. Give your staff a few ideas on how they can use them, drive home the excitement, and make a fuss of all the choice the vouchers offer. Put some effort in and make a fanfare of the occasion. But the reality is that the only laziness is in presentation. Simple and easy to combine with a thank-you note, vouchers are can be unfairly called a ‘lazy’ option. And, for a special treat, five really bad ideas you need to avoid at all costs. So, just for you, we’ve got 25 great staff Christmas gift ideas that won’t find their way to the bin or end up re-gifted to someone’s least favourite cousin. And with Christmas comes the expectation you’ll organise some Christmas gifts for employees. Whether you’re counting sleeps until the 25 th, or trying to figure out what to do, it’s coming all the same. If you believe you would benefit from a discussion with one of our Business Tax advisors, contact us today.It’s time to think about Christmas gifts for employees, because Christmas will be here before you know it. If this is the case, you may be advised to avoid recovering the VAT in the first place. If you recover the input tax charged when you buy gifts for employees, and if the total value of gifts given to an employee in a tax year exceeds £50, then you will have to account for VAT on the total value of gifts provided. A close company is a limited company with five or fewer shareholders. This restriction only applies to the directors of “close companies”. Gifts to directors are treated in a similar fashion with one over-riding condition: a director cannot receive trivial gifts of more than £300 in total each tax year. Gifts that fall into this category are known as a ‘trivial benefit’ and whilst they may be much more than trivial in substance, you don’t need to pay tax or National Insurance or let HMRC know you are making the gift.Īny gifts that do not meet this definition will likely be taxable. it isn’t in the terms of their contract.it isn’t a reward for their work or performance.You don’t have to pay tax on a benefit (gift) to your employee if all of the following apply: There are also other considerations that must be met to qualify for this relief.Īnother way to benefit staff tax-free for Christmas is to consider making small gifts. Where it’s not possible to calculate individual costs an averaging process can be adopted. If this amount is exceeded, the full cost of the benefit is taxable not the excess over £150. The present limit to tax relief is £150 per head. Business owners who are minded to celebrate the forthcoming Christmas break with their staff are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |