Being paid in vouchers not cash

friendly_finance

If an organisation wants to pay me for help devising a project in vouchers - only about £50 a month - will this effect my tax status? Do I need to declare this to the taxman even if I am not receiving any benefits or entitlements?

All help is gratefully received.

stator

It's a benefit in kind.

Are you earning above the tax threshold via other employment?

ReadingTim

What's your current relationship with the organisation? Employee, or are we talking about contracting, but paid in vouchers rather than cash?

ohreally

I see the truck acts are alive and well.

ReadingTim

ohreally wrote: »

I see the truck acts are alive and well.

Not quite - one assumes these vouchers are also available to the public, so the only restriction is in where they can be spend, rather than being forced to buy things at an inflated value determined by the employer.

Furthermore, it's not stated whether the vouchers are for use in the company's shops, or simply vouchers for another retailer (Amazon vouchers for example). The latter is hardly sinister, is it?

Finally, it's entirely possible that the OP has dreamed up this [STRIKE]scam[/STRIKE] scheme because they're hoping to stay under some tax or benefits threshold, and thinks 'vouchers', as opposed to the more traditionally dodgy 'cash in hand' is a good way of doing it...