Tax Relief on Christmas Gifts for Employees
Posted on 1st December 2020 at 09:00
‘Tis the season for giving! If you’re planning on getting your employees some Christmas gifts, you can receive a little tax relief in return.
How it works: You can give presents to your staff up to the value of £50 each including VAT without having to pay tax on them. As long as the gift isn’t cash or a voucher that can be exchanged for cash, it will qualify as an expense.
Please note: Another important factor is that the item can’t be provided in the form of a salary sacrifice or as a reward for previous work. It has to be a gift to celebrate the season, plain and simple.
Whether you have a large workforce or just one member of staff, it’s definitely worth applying for this tax relief while you can. Call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in our contact form.
Tagged as: Tax
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