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Mabozzer

Employees Christmas bonuses

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Mabozzer

What's the most up to date tax efficient bonus methods and how do you record it or how does your accountant record it.

 

I see a gift voucher up to £50 can be given and looks like it's only ni deductible.

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Bart90
18 minutes ago, CHWS said:

Beer 😎

You gotta feel sorry for the tea total employees....... 😄 

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Part Timer
16 minutes ago, Bart90 said:

You gotta feel sorry for the tea total employees....... 😄 

Not really 😁

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Mabozzer

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.

 

21 minutes ago, Bart90 said:

You gotta feel sorry for the tea total employees....... 😄 

There's a huge range of non alcoholic drinks available these days or give them a case of 1901

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adamangler

Pay yourself as a dividend and give them the cash? (assuming you are on the 7.5% rate) 

 

 

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Part Timer
3 hours ago, Mabozzer said:

What's the most up to date tax efficient bonus methods and how do you record it or how does your accountant record it.

 

I see a gift voucher up to £50 can be given and looks like it's only ni deductible.

Why not ask your Accountant, surely you're going to get the correct advice. 

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Mabozzer

Doesn't look like many give their workers a bonus on here then!

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Part Timer
5 minutes ago, Mabozzer said:

Doesn't look like many give their workers a bonus on here then!

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. 

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Chris33
1 hour ago, Mabozzer said:

Doesn't look like many give their workers a bonus on here then!

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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clearview
5 hours ago, Part Timer said:

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. 


exactly what I was thinking !

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laddergarder
7 hours ago, Haz said:

How many of u tip your accountant ? lol😛

Mine is my wife so I don't even pay her 😋

 

@Mabozzer I think charitable donations are deductable up to a point. I was thinking about creating a backpack with essentials in it to give to homeless people, and I was told this would be tax deductible.

Edited by laddergarder

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laddergarder

I give a bonus and put it through as a personal expense so its me who pays the tax. 

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HWCS

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 😉😉

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Mabozzer
10 hours ago, Part Timer said:

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. 

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. 

 

 

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Mabozzer
3 hours ago, laddergarder said:

Mine is my wife so I don't even pay her 😋

 

@Mabozzer I think charitable donations are deductable up to a point. I was thinking about creating a backpack with essentials in it to give to homeless people, and I was told this would be tax deductible.

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? 

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