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FRS: Can trivial benefits be classed as goods?

Can goods purchased for trivial benefits be used to reach the limited cost threshold?

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Hi all

Think I am missing something here.

If a company bought £1,000 worth of goods and gave them to an employee, who was taxed appropriately, then in my mind this would be classed as relevant goods. If this is the case, then should goods given as trivial benefits also count?

Thank you in advance

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By Matrix
12th Nov 2019 14:38

No I don’t think so since the goods have to be used exclusively by the business and exclude gifts.

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Replying to Matrix:
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By SouthCoastAcc
12th Nov 2019 16:27

Thanks, I thought about promotional items but not gifts, must be having a bad day.

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