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Trivial Benefits - payable per company/directorship?

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    #41
    Originally posted by TheCyclingProgrammer View Post
    I created a new category called “trivial benefits”. It’s not really that important, the accountant records it under employee welfare in my accounts.
    +1
    As a dedicated spending category in FA it helps to control it per year per director.

    Comment


      #42
      Originally posted by SimonMac View Post
      Does anyone actually bother with the trivial benefits? How much differences for £300 a year mean to an average contractor.
      I guess I now bother

      Does anyone know if there are any rules on how often the trivial benefit can be given? I assume 6 x £50 amazon vouchers in one go would be suspicious?
      Last edited by SimonMac; 24 March 2020, 10:58.
      Originally posted by Stevie Wonder Boy
      I can't see any way to do it can you please advise?

      I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

      Comment


        #43
        Originally posted by SimonMac View Post
        I guess I now bother

        Does anyone know if there are any rules on how often the trivial benefit can be given? I assume 6 x £50 amazon vouchers in one go would be suspicious?
        It would and pretty daft to do it that way IMO. Just no need to be drawing attention for what even has 'trivial' in the title.

        Maslins has commented on this in the past. It's in response to a comment about buying them on birthdays, xmas etc

        https://www.contractoruk.com/forums/...ml#post2538274

        Originally posted by Maslins View Post
        I personally would feel more comfortable with this. Seems a bit more like what a "real company" would do with an "actual employee".

        Taking 6 x £50 vouchers, possibly even 6 days on the trot...well, it's small enough it'd never get challenged, and superficially it is to the letter of the law...but it doesn't sit right with me.
        And P.S. I'm bothering this year as well.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #44
          Originally posted by SimonMac View Post
          I guess I now bother

          Does anyone know if there are any rules on how often the trivial benefit can be given? I assume 6 x £50 amazon vouchers in one go would be suspicious?
          You've got 12 days left before it resets.....chop chop!

          Comment


            #45
            Can the company reclaim VAT on trivial benefits?

            I presume any gift card that says in the T&Cs "cannot be exchanged for cash" is valid? Sometimes a shop will give cash if the value left is less than a certain amount so you would need to stay away from those.

            This should be good for an Easter gift.

            Thanks.

            Comment


              #46
              Originally posted by Craig@Clarity View Post
              You've got 12 days left before it resets.....chop chop!
              Ahhh, so it goes on personal tax year not company tax year? Wonder if I can throw in the full £300 before the 6th
              Originally posted by Stevie Wonder Boy
              I can't see any way to do it can you please advise?

              I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

              Comment


                #47
                Originally posted by SimonMac View Post
                Ahhh, so it goes on personal tax year not company tax year? Wonder if I can throw in the full £300 before the 6th
                Three posts up from yours up gives you Maslins take on that.
                'CUK forum personality of 2011 - Winner - Yes really!!!!

                Comment


                  #48
                  Originally posted by northernladuk View Post
                  Three posts up from yours up gives you Maslins take on that.
                  I agree. I just wanted to highlight that it's per tax year. I usually don't advise anyone to stick it all in one month though.

                  Comment


                    #49
                    I just learned about this so I'll be gifting each director 3 gift cards this week.

                    Tough times ahead so we need to use the tools available to us. I don't have any moral qualms about it.

                    Comment


                      #50
                      Originally posted by concord View Post
                      I just learned about this so I'll be gifting each director 3 gift cards this week.

                      Tough times ahead so we need to use the tools available to us. I don't have any moral qualms about it.
                      Did you not read the advice from not one but two accountants just above this?
                      'CUK forum personality of 2011 - Winner - Yes really!!!!

                      Comment

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