Trivial benefits confusion
2stixoftwix
Posts: 61 Forumite
Hi
Myself and my husband are directors of our own company
I understand we can claim upto £300 pa in trivial benefits
it also says that there is a limit of £50 for employees and anything given more is taxable
I'm a bit confused, does this mean for example as a director I can receive 6 x £50 'treats' or does it mean I can have a treat upto the value of £300
really confused about the wording!
Myself and my husband are directors of our own company
I understand we can claim upto £300 pa in trivial benefits
it also says that there is a limit of £50 for employees and anything given more is taxable
I'm a bit confused, does this mean for example as a director I can receive 6 x £50 'treats' or does it mean I can have a treat upto the value of £300
really confused about the wording!
0
Comments
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2stixoftwix wrote: »I'm a bit confused, does this mean for example as a director I can receive 6 x £50 'treats' or does it mean I can have a treat upto the value of £300
You can have 6 x £50. A single item over £50 isn't exempt so would be taxable.0 -
They don't have to be £50, you can have any sort of combination of amounts £50 or under to total £300.Make £2024 in 2024
Prolific to 29/2/24 £184.97, Chase Interest £11.88, Chase roundup interest £0.18, Chase CB £16.96, Roadkill £1.10, Octopus referral reward £50, Octopoints £6.30 to 31/1/24, Topcashback £4.64, Shopmium £3
Total £279.03/£2024 13.8%Make £2023 in 2023Water sewerage refund: £170.62,Topcashback: £243.47, Prolific: to 31/12/23 £975, Haggling: £45, Wombling(Roadkill): £6.04, Chase CB £149.34, Chase roundup interest £1.35, WeBuyBooks:£8.37, Misc sales: £406.59, Delay repay £22, Amazon refund £3.41, EDF Smart Meter incentive £100, Santander Edge Cashback-Fees: £25.14, Octopus Reward £50, Bank transfer incentives £400Total: £2606.33/£2023 128.8%0 -
Thanks - that was what I thought0
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