Hi
We give bonus bonds to a 3rd party who is subcontracted to a customer of ours. He receives these based on sales he makes for our customer of our product. Should we be deducting PAYE and NI?
Thanks
Replies (1)
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No PAYE
As long as the Bonus Bonds are not 'readily convertible' I don't believe PAYE is due. See Part 3 Chapter 4 ITEPA 2003.