I won a holiday at work months ago and now being taxed!?!

Aquamania

lil_Amz99 wrote: »

I won a holiday to Miami for 4 days through a supplier to the company I work for back in November, I have just been told by our accounts department I am going to be taxed on this (value £2200)

I was never told this at the time, is this correct?

lil_Amz99 wrote: »

I do not work in sales I am in the purchasing department. I have no targets and no bonuses

It might be simpler, and certainly more beneficial, to tell us what led to you "winning" this holiday, rather than telling us what didn't

silverwhistle

Cn you refuse the prize in these circumstances? What if your cash flow situation is bad at the time and such a trip is not worth £440 to you? Let's face it £2,200 is presumably the full, un-discounted (maybe even inflated) cost of the holiday.

Bit like the old joke; 1st prize - 1 week in Skegness, 2nd prize - 2 weeks..

theEnd

I would think it has to be a taxable benefit.

Would be too easy to construct it as a tax dodge otherwise. Imagine it was cash? and done regularly? and by all suppliers? and reciprocated?

zygurat789

molerat wrote: »

If paid for by a third party the employer should not be declaring it but the employee should according to this
https://www.gov.uk/employee-incentive-awards

It used to be a question on the P35 but now that has disappeared it makes sense to put the disclosure onus where it really ought to be.

silverwhistle said
Cn you refuse the prize in these circumstances? What if your cash flow situation is bad at the time and such a trip is not worth £440 to you? Let's face it £2,200 is presumably the full, un-discounted (maybe even inflated) cost of the holiday.

Bit like the old joke; 1st prize - 1 week in Skegness, 2nd prize - 2 weeks..

That would be £550, £2,200 is the amount recieved.