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Ask the Tutor ACCA TX-UK

TAXABLE BENEFITS

AABDULLAHI5y ago
Hi, on long service award,what is the treatment for both non cash and cash payments?
TTTax Tutor5y ago#1
A non-cash long-service award is not a taxable benefit if it is for a period of service of at least 20 years, and the cost of the award does not exceed £50 per year of service. Cash rewards are taxable
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