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Posted Tue, 10 Jan 2023 21:41:21 GMT by alice.palace101
Hi, working for an Employee Owned Trust (EOT) the first £3,600 of bonus is tax free. How can this be added to a self assessment?
Posted Fri, 13 Jan 2023 13:53:41 GMT by HMRC Admin 32

Beneficiaries of the EOT needs to include all employees and ensure equal treatment. The Income Tax free £3,600 bonus has to be distributed on an equal basis. Some conditions are allowed if, for example, an employee works on a part-time bases or hasn’t been with the company for a specific period of time so one person will not have the full £3600. as it is tax free it should not be included on your P60 as income so should not be included on the return.

Thank you.

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