{"id":1032,"date":"2019-09-02T00:00:00","date_gmt":"2019-09-02T00:00:00","guid":{"rendered":"https:\/\/slacc.co.uk\/index.php\/are-you-making-the-most-of-trivial-benefits\/"},"modified":"2019-09-02T00:00:00","modified_gmt":"2019-09-02T00:00:00","slug":"are-you-making-the-most-of-trivial-benefits","status":"publish","type":"post","link":"https:\/\/slacc.co.uk\/index.php\/are-you-making-the-most-of-trivial-benefits\/","title":{"rendered":"Are you making the most of Trivial Benefits"},"content":{"rendered":"<p>Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules.<\/p>\n<p>We said:<\/p>\n<p><em>It is possible to make small tax-free payments to employees, including directors&hellip;<\/em><\/p>\n<p><em>Employers and employees don&rsquo;t have to pay tax on such a benefit if all of the following apply:<\/em><\/p>\n<ul>\n<li><em>it cost you &pound;50 or less to provide,<\/em><\/li>\n<li><em>it isn&rsquo;t cash or a cash voucher,<\/em><\/li>\n<li><em>it isn&rsquo;t a reward for their work or performance,<\/em><\/li>\n<li><em>it isn&rsquo;t in the terms of their contract.<\/em><\/li>\n<\/ul>\n<p><em>HMRC describes these payments as a &lsquo;trivial benefit&rsquo;. <\/em><\/p>\n<p><em>You can&rsquo;t receive trivial benefits worth more than &pound;300 in a tax year if you are the director of a &lsquo;close&rsquo; company. A close company is a limited company that&rsquo;s run by 5 or fewer shareholders.<\/em><\/p>\n<p>Readers who manage a business may want to integrate a formal process into their benefits strategy to take advantage of this opportunity.<\/p>\n<p>Every little helps.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules. We said: It is possible to make small tax-free payments to employees, including directors&hellip; Employers and employees don&rsquo;t have to pay tax on such a benefit if all of the following apply: it cost you &pound;50 or less to provide, [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-1032","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=1032"}],"version-history":[{"count":0,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/1032\/revisions"}],"wp:attachment":[{"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=1032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=1032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slacc.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=1032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}