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Post Info TOPIC: Trivial Benefits
Georgie


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Trivial Benefits
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Hi everyone

Would someone kindly confirm whether Tesco gift cards, and Google Play are allowed as a "trivial benefit" as per the £300 per year per director?

 

Georgie



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Cheshire


Master Book-keeper

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Hi Georgie
Long time no see! Hope you are well.

Have a gander at the enclosed

www.accountingweb.co.uk/tax/business-tax/trivial-benefits-far-from-trivial

www.gov.uk/government/publications/tax-exemption-for-trivial-benefits-in-kind-draft-guidance/tax-exemption-for-trivial-benefits-in-kind-draft-guidance

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Georgie


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Hi Joanne

Yep, saw those and the way I read them the articles contradict each other. Article on AW says you'll pay more tax on the gift cards and HMRC says the gift cards are allowable as long as they are not a cash voucher

Thank you

Georgie



-- Edited by Georgie on Friday 30th of June 2017 05:57:55 PM

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Cheshire


Master Book-keeper

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Have I misread something? Where does it say they will pay more tax?

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Georgie


Guru

Status: Offline
Posts: 700
Date:
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The AW link, last paragraph Gift Cards (I used to get one of these every xmas and never did spend it)

Georgie

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Leger


Master Book-keeper

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Posts: 3904
Date:
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Hi Georgie

If you read the comments in the AW article Tim Good clarifies it better.  Providing they can't be exchanged for cash they are allowed.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Georgie


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Posts: 700
Date:
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Ah yes, thank you John

Georgie

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