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So, what is a Trivial Benefit?
![So, what is a Trivial Benefit?]()
In a nutshell, it’s the opportunity to thank your employees whilst at the same time making your money go further. The general rule is that an employer can provide trivial benefits such as a bottle of plonk, a trip to T20 blast cricket or a night out at the theatre. The employer can claim income tax or corporation tax relief on the cost and the employee does not suffer any income tax or national insurance costs. Everyone is a winner!
The key conditions are as follows:
- the trivial benefit must cost no more than £50
- the benefit must not be a reward for services
- the benefit must not be cash or exchangeable for cash
Fear not! Directors can benefit too, but the annual cap for each director is £300 for exempt trivial benefits. So you can make savings which are a darn sight better than the proverbial kick up the back-side ….!
#Domoreofwhatyoulove #Laxmi2017
