Tag Archive: Benefits in kind

Benefits in Kind Tax Changes for 2021/22: Your essential guide

Posted 14th May 2021 at 7:33 am

In this blog, we outline the key benefits in kind tax changes that you need to know about for the tax year 2021/22. Look out for our other blogs detailing the changes to other types of tax this tax year.   Employer-reimbursed coronavirus antigen tests In addition to the existing National Insurance disregard which continues into this tax year, a statutory exemption will be introduced (with retrospective effect for 2020/21 as well as covering in 2021/22) to prevent an income tax charge arising where an employer reimburses an employee for the cost of a Coronavirus antigen test.   Home office... Read more

Three ways to make the most of your tax benefits this Christmas

Posted 2nd December 2019 at 8:34 pm

1. Reward your staff with Trivial Benefits of up to £50 in value Did you know that if you reward staff with Benefits in Kind, you can save tax on these by meeting certain conditions? This means that as an employer you can buy gifts, pay for meals, or give shopping vouchers to your employees as a Trivial Benefit, exempt from tax. To find out more about Trivial Benefits click here.   2. Claim up to £150 per head for your Christmas party Tax rules allow an exemption for an annual staff social event, such as a Christmas party. So... Read more