18/06/2018
Accountancy Expertise – here to answer your questions to help you run a successful business.
We'll be posting frequently asked questions and answers. Can’t find the answer to a question you're looking for? Get in touch at contact@carringtonaccountancy.com one of our expert accountants will be happy to help. #AskTheAccountant
Question: One of my team has worked really hard over the last couple of weeks and gone over and above what I would expect from her. I would like to buy her a £40.00 voucher for her to use at her favourite beauticians to say thank you for her efforts; but what are the implications of this in regards to tax and declaration?
Expert Answer: As the gift value amount is less than £50.00 and is not a contractual payment, it is classed as a Trivial Benefit which does not need to be taxed or declared.
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