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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