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Treatment of voucher Gifts to Employees

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Treatment of voucher Gifts to Employees

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • June 6, 2016 at 12:44 pm #319850
    saqlainrattansi
    Member
    • Topics: 93
    • Replies: 97
    • ☆☆

    Hey mate,

    How would you treat the gift of a voucher exchangeable for goods?
    As a taxable benefit or as employment income?

    In which case, would the gift of a voucher worth £500 be exempt from income tax?

    Since other gifts to employees are exempt since the employees pay for it as a taxable benefit.

    June 7, 2016 at 1:28 am #320107
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Vouchers for goods or services are TAXABLE unless specifically exempt and are therefore treated as employment income – OT notes chapter 9 section 7.1

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