Did you know that gifting our vouchers to your employees could also be a tax efficient way to motivate staff?
For instance, a Red Letter Days gift voucher of up to £50 may qualify for what HMRC calls the “trivial benefit exemption”.
Where the relevant conditions are met, there should be no tax or NIC to pay on the provision of such vouchers.
Happy days? But, don’t take our word for it! We suggest that you discuss the tax implications with your tax advisor.
As is often the case with tax, the devil is in the detail and your advisor will be able to review your particular set of circumstances to confirm whether the tax exemption will apply.