Business gifts are very common at this time of year. It’s a time that we all try to say thank you to those that have supported us during the year. In this blog, I will like to explain the tax consequences of business gifts. GIFTS TO EMPLOYEES When employers give…

  Entertainment in business  Most business do give gifts to their employees and provide entertainment to their clients.I have explained in the blog,The tax consequence of doing this.   Here is the issue with business entertainment: Entertainment in business is an allowable accounting expense when it relates to the business, however,…

Savings on trivial benefits The trivial benefit was first introduced in April 2016. It was introduced to encourage employers to give employees benefits without incurring income tax and national insurance on the cost of this benefit. Cost of the benefit to the employers or another organization providing the benefit on…