With the festive season in full swing, we wanted to share some tax-efficient ways you can celebrate virtually or in person with your team.
Under current guidance, you’re allowed to celebrate with your team without having to report it or have the usual benefit in kind tax implications. It’s referred to as a Trivial Benefit. You can give or do something for each of your team members that costs £50 (including VAT) or under per person. This is also applicable all year round, you don’t need to wait until Christmas. You could also host an in-person or virtual event or party and spend up to £150per team member.