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Trivial Benefits

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    #11
    Originally posted by zonkkk View Post
    They are not considered cash, so they are OK.
    How so?
    The HMRC sites says no cash or cash vouchers. Surely an amazon voucher worth £300 is a cash voucher?
    See You Next Tuesday

    Comment


      #12
      Originally posted by Lance View Post
      How so?
      The HMRC sites says no cash or cash vouchers. Surely an amazon voucher worth £300 is a cash voucher?
      From the HMRC website:

      "Example D

      Employer D provides each of its employees with a bottle of wine costing £25 at Christmas. However, as an alternative, it provides employees who do not drink alcohol with a £25 gift voucher for a national supermarket chain which they can exchange for an alternative non-alcoholic Christmas gift. Both the bottle of wine and the non-cash gift voucher can be covered by the exemption."

      A gift card cannot be exchanged for cash, so not considered a cash voucher.

      Comment


        #13
        Originally posted by Craig@Clarity View Post
        It's been discussed on this forum now and again for a while now. Some take advantage of it, others don't. We blogged about it when came into effect on 6 April 2016.
        So only the four years then.

        Looks like it ain't just me who has not been aware of this.

        qh
        He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

        I look forward to your all knowing and likely sarcastic and unhelpful reply.

        Comment


          #14
          Originally posted by zonkkk View Post
          From the HMRC website:

          "Example D

          Employer D provides each of its employees with a bottle of wine costing £25 at Christmas. However, as an alternative, it provides employees who do not drink alcohol with a £25 gift voucher for a national supermarket chain which they can exchange for an alternative non-alcoholic Christmas gift. Both the bottle of wine and the non-cash gift voucher can be covered by the exemption."

          A gift card cannot be exchanged for cash, so not considered a cash voucher.
          Agreed. As opposed to the golden days when you get a Woolies voucher for a fiver and you could go and buy something with it and they'd give you cold hard cash as change. Those are not allowed.

          Comment


            #15
            Had vaguely heard of it at the time but I mentally put it in the 'must look at that later' list and never did...

            Funnily enough, my accountant has recently offered to give me a free company tax planning review - be interesting to see if this comes up.

            Comment


              #16
              Originally posted by quackhandle View Post
              "What this is you get a £300 allowance in the tax year. This is a gift from the company to the director but there are some rulings. The gift can be anything as long as its not cash or a cash voucher (exchangeable for cash). Each transaction has a limit of £50. Exceeding this will disallow the expense. It will also have to be paid from the company account and you will allocate it to sundries on FA. A good use of this would be an amazon gift card."


              15 years running a company, I have never heard of this. Not one accountant (until now) has mentioned this.

              qh
              That's kind of your fault. It's documented in plenty of guides about contracting and we've got crap loads of threads on it here.

              trivial benefits [email protected]/forums - Google Search

              We've even discussed amazon cards specifically and put warnings up about timings with Maslins verfiying.
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #17
                If you google it you'll find articles from CUK and guides on SJD, NW and many many other sites about it. It's not like it's hidden away is some dark text or anything.

                trivial benefits contractor - Google Search
                'CUK forum personality of 2011 - Winner - Yes really!!!!

                Comment


                  #18
                  Originally posted by northernladuk View Post
                  If you google it you'll find articles from CUK and guides on SJD, NW and many many other sites about it. It's not like it's hidden away is some dark text or anything.

                  trivial benefits contractor - Google Search
                  Fair one, but as we pay accountants who should be able to inform us of things like this in a timely manner.

                  qh
                  He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

                  I look forward to your all knowing and likely sarcastic and unhelpful reply.

                  Comment


                    #19
                    Originally posted by quackhandle View Post
                    Fair one, but as we pay accountants who should be able to inform us of things like this in a timely manner.

                    qh
                    You'd think so wouldn't you. Definitely at a year end review or maybe even quarterly to advise you haven't claimed office costs, trivial benefits or anything else they haven't see applied.

                    I wouldn't be dumping my accountant if they didn't though as I've yet to see one do it properly so it appears to be a problem across the board than with a particualar outfit.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment


                      #20
                      Originally posted by northernladuk View Post
                      You'd think so wouldn't you. Definitely at a year end review or maybe even quarterly to advise you haven't claimed office costs, trivial benefits or anything else they haven't see applied.

                      I wouldn't be dumping my accountant if they didn't though as I've yet to see one do it properly so it appears to be a problem across the board than with a particualar outfit.
                      I still have the old emails, so I best check to see if they have mentioned it before (but I'm sure I would have remembered!)

                      No, wouldn't dump them a simple "Throw me a frickin' bone here, I'm the boss, need the info" would be fine.

                      qh
                      He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

                      I look forward to your all knowing and likely sarcastic and unhelpful reply.

                      Comment

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