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employee gift

tax implications?

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a sole trader client wants to buy an employee a gift, instead of giving a bonus, are there any restrictions / tax implications for the employee?

the gift is likely to be around £1k in value

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By Tax Dragon
01st Dec 2020 10:08

What do you think?

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By Wanderer
01st Dec 2020 10:14

Quote:
employee gift
tax implications?

a sole trader client wants to buy an employee a gift, instead of giving a bonus, are there any restrictions / tax implications for the employee?

the gift is likely to be around £1k in value

Yes.
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By NicoleM
01st Dec 2020 10:35

the employer can choose to pay the tax on the gift.

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By Kaylee100
01st Dec 2020 10:46

It is a bonus isn't it? More money for doing same job.

Look up trivial benefits (which this isn't due to cash and the high level ) but it might be a useful thing to research for future.

As others say, yes it is taxable but they can pay tax on it if they wish but it will cost them considerably more then £1k then.

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By Paul Crowley
01st Dec 2020 10:46

.Anon

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