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Christmas

Christmas Tax Filing: Getting Ahead Of The Deadline

HM Revenue and Customs have revealed that 4,409 people chose Christmas Day to file their tax returns, ensuring their 2023-2024 tax affairs were in order well before the 31 January deadline. In total, 40,072 taxpayers submitted their returns over the Christmas break, proving that even amidst the festive cheer, there’s always time for a little […]

Read more January 7th, 2025

Paying Employees Early Before Christmas

Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay workers earlier than normal. As in earlier years, HMRC have announced that they have relaxed the RTI (Real Time Information) reporting obligations. If you do […]

Read more December 5th, 2024

Christmas Party Time!

There continues to be no taxable benefit for employees provided that all staff are invited to the Christmas Party, and the cost to the employer does not exceed £150 a head, inclusive of VAT. If you have already had a summer event, provided the combined cost of the two events is no more than £150 […]

Read more December 3rd, 2024

No Change To Christmas Gift Tax

Many were expecting the chancellor to announce changes to Inheritance Tax (IHT) in his Autumn Budget. However, like Capital Gains Tax (CGT), the rules have remained broadly the same as last year. That means that each tax year individuals may make gifts of up to £3,000 in total and that amount is not included in […]

Read more December 6th, 2021

Business Christmas Gifts

How about a virtual Christmas Party? HMRC are not the Grinch after all. They have recently announced that employers may arrange a “virtual” Christmas party this year and there will be no taxable benefit for employees provided that all staff are invited and the cost per head does not exceed the normal £150 limit. Maybe […]

Read more December 9th, 2020

Early Electronic Payment Deadline For PAYE

In December the electronic payment deadline for PAYE falls on Sunday 22nd. To make sure your payment reaches HMRC in time, you need to have cleared funds in HMRC’s account by the 20th December, unless you are able to arrange a Faster Payment. It is your responsibility to make sure payments are made on time […]

Read more December 11th, 2019

Christmas Gifts Of Up To £50 To Employees

Remember that certain gifts to staff at Christmas are tax free if structured correctly. Ever since April 2016 employers are allowed to provide their directors and employees with certain “trivial” benefits in kind tax free. The rules were brought in as a simplification measure so that certain benefits in kind do not now need to […]

Read more December 11th, 2019

Staff Summer Party Can Be A Tax-Free Benefit

Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit as long as certain conditions are satisfied. The exemption applies to an annual party (e.g. a Christmas party), or similar annual function (e.g. a summer barbecue), […]

Read more July 9th, 2019

Christmas Is The Time For Giving

Those thinking about making gifts at Christmas should take advantage of the various inheritance tax (IHT) exemptions and reliefs available to them. Note that certain gifts can also have capital gains tax (CGT) implications. The IHT Annual Exemption – Use it or lose it! Although not particularly generous at £3,000 per donor per annum if […]

Read more December 6th, 2018

Christmas Sales – Useful Planning Tips

Careful planning is essential to make the most of sales during the festive season. As mixed messages continue about the economy and recovery from the recession people are likely to be looking to keep spending to a minimum and get value for money. Planning If you do not already have a plan in place, this […]

Read more October 29th, 2010