UHY Ross Brooke Chartered Accountants

Show your staff some love this Valentine’s Day

tax efficient gifts to employees like shopping vouchers

As business owners, it’s too easy to get bogged down in the business: keeping customers happy chasing debtors and dealing with red tape. Sometimes we need to look up at the staff around us who keep all these things possible and say thank you.

With Valentine’s Day approaching, maybe it’s a good time to share some love in a tax-efficient way.

One very good way of achieving this is by giving them a gift of up to £50 in cost.

There are certain conditions to ensure the employee is not taxed on it

  • the gift is not cash nor a voucher exchangeable for cash
  • the benefit is not provided in recognition of services performed by the employee as part of their role
  • the employee is not entitled to the benefit as part of any contractual obligation.

And if you’re a director of a company, you can even treat yourself too.

So, who will you be showing some love to this Valentine’s Day?

If you would like suggestions for more tax-efficient ways to reward your employees, just get in touch.

Share This Post

Related insights

Talk to us

Newbury: 01635 555666
Abingdon: 01235 251252
Swindon: 01793 610008
Hungerford: 01488 682546