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TAXABLE BENEFITS

This topic has 1 reply, 2 voices, and was last updated 1 year ago by Tax Tutor.

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August 22, 2021 at 9:21 am #632492
ABDULLAHI312
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Hi,
on long service award,what is the treatment for both non cash and cash payments?
August 23, 2021 at 12:08 pm #632613
Tax Tutor
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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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