The deadline to take advantage of the trivial benefits exemption for this year is 5th April. This is capped at £300 for directors, and for employees and directors at £50 per perk. Therefore directors could take up to six tax and NI free perks of £50. If you don’t know what to spend it on (cash is not an option), you could buy gift vouchers. However, if you are buying all six before the year end, avoid buying them in the same place at the same time as HMRC may consider this to be a single benefit.
Ask us for more information on what you can spend your company’s money on. 01424 730000 or email firstname.lastname@example.org