Starting to think about Christmas? ‘Tis nearly the season for giving… but not for getting in trouble with HMRC! Thinking of treating your team this Christmas? You can give gifts worth up to £50 (including VAT) each without paying tax or declaring them to HMRC thanks to the Trivial Benefits rule. To qualify, your gift must: ✅ Cost £50 or less per employee ✅ Not be cash or a cash voucher ✅ Not be a reward for work (so “thanks for smashing your targets” doesn’t count!) ✅ Not be part of their contract If it ticks all four boxes, you can pay for it straight from your business account, it’s tax-free, and it’s an allowable business expense too. (Directors of small “close” companies can also enjoy up to £300 per tax year in trivial benefits for themselves.) If you’re not sure, just ask us or there’s more info on the gov.uk website under trivial benefits. #SmallBusinessTips #UKTax #TrivialBenefits #ChristmasGifts #AccountancyMadeSimple