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Employees Christmas bonuses
- Thread starter Mabozzer
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Bart90
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laddergarder
Well-known member
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- Greenock, Scotland
Someone has to pay tax on it. You or your employee.
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- Sunderland Tyne and Wear
I'd rather it wasn't pisshed up against a wall to be honest and ofcourse if there's away you can do it legitimately then it's better.
How do companies hand out a few hundred pounds worth of bottles to customers and log it as an expense. Also when companies donate to school fairs etc how is that logged legitimately.
It's a small bonus but after tax it's crud so trying to find the correct way round as they change these rules all the time.
How do companies hand out a few hundred pounds worth of bottles to customers and log it as an expense. Also when companies donate to school fairs etc how is that logged legitimately.
It's a small bonus but after tax it's crud so trying to find the correct way round as they change these rules all the time.
There's a huge range of non alcoholic drinks available these days or give them a case of 1901
adamangler
Wakefield Window Warrior
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- Wakefield
Pay yourself as a dividend and give them the cash? (assuming you are on the 7.5% rate)
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harunh
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How many of u tip your accountant ? lol?
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The vast majority on here are sole traders. I can't actually believe you're asking for tax advice from strangers on a public forum.
Not exactly tax efficient but I just split the last days takings (today)50/50 so they got a very good wage off that. And gave them all tips.
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I bought myself new coat, with yesterdays takings ?
clearview
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laddergarder
Well-known member
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- Location
- Greenock, Scotland
laddergarder
Well-known member
- Messages
- 1,546
- Location
- Greenock, Scotland
I give a bonus and put it through as a personal expense so its me who pays the tax.
HWCS
Well-known member
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- 1,130
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- North Norfolk
I bought myself a bottle of Jean Paul Gautier 'La Beau' £75.00, ill stick the reciept through as an expense.
I mean who the fl wants their window cleaning amelling bad ??
I mean who the fl wants their window cleaning amelling bad ??
Had a few too many last night as your sounding a bit dramatic!
There's lot of employers on forums and with it being a little Christmas bonus I'm asking about it's hardly unbelievable to ask.
Good idea that. I was surprised by the amount of homeless folk setting around up camp along the shop fronts in Glasgow city centre when we were going to the Royal orchestra hall. It's a tough life they never asked for.
Out of interest what would you class as the essentials?
Google this and you'll find the information readily available on more specific tax related and gov.uk sites.
Most benefits to any employee whether it be money or gift have an equivalent cash value. This is seen as a benefit much like a company car is and so there is tax due.
Most ways to pay them are similar in terms of tax but just depends where in the process it's taxed. Especially for small scale stuff like this.
Dividends even if on 7.5% are still taxed as profit to be available to pay was a dividend in the first place so will be taxed at around 20% depending on structure etc.
Everyones tax position is unique to an extent so you are best to seek advice from a professional which is specific to your structure and your position and that of the employee.
Listen to advice from whoever and you risk a costly error that you are ultimately responsible for when the taxman does their audit.
Most benefits to any employee whether it be money or gift have an equivalent cash value. This is seen as a benefit much like a company car is and so there is tax due.
Most ways to pay them are similar in terms of tax but just depends where in the process it's taxed. Especially for small scale stuff like this.
Dividends even if on 7.5% are still taxed as profit to be available to pay was a dividend in the first place so will be taxed at around 20% depending on structure etc.
Everyones tax position is unique to an extent so you are best to seek advice from a professional which is specific to your structure and your position and that of the employee.
Listen to advice from whoever and you risk a costly error that you are ultimately responsible for when the taxman does their audit.
