Trivial Benefits – Tax Tip

Did you know, each Director can claim up to £300 of tax free expenditure each year?

Yes, you can buy gift cards or purchase items under £50, 6 times each financial year.

Key conditions to meet the eligibility are :

• Each item must be £50 or less
• The item must not be cash or convertible for cash
• The purchase is not a reward for business performance
• It isn’t in the terms of your contract