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Our annual functions are covered under PSA. We paid for a Christmas Party last year and unfortunately due to Covid 19 had to cancel the event. We were only able to carry over some of the costs for another event in a new tax year, but the bigger part of this cost was non-refundable. Would you be able to confirm if this non-refundable cost would be subject to any taxation? Do we need to report it on our PSA or for example include it in the overall cost of the future event?
A company arranged for a leaving present for an employee. The present was a gift voucher (Amazon gift card) for £50.00.
Can we apply a trivial benefit exception in this situation? Or do we have to record it on P11D for tax and put it through payroll for Class 1 NIC?