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Hi all, does anybody know how to input trivial benefits (3 x £50 vouchers) and under what category?

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RayWAnswer

Was having this same problem and your answer helped, although I'm unclear on what "detail type" to enter it under. Obviously it's a mandatory field but none of the categories seems to apply to a non-taxable Gift card (trivial benefit)

What are your thoughts?

I simply created a new expense category called 'Non-taxable Employee Benefit' and assigned the cost to that. Based on advice from our accountant.

JackS

Hi @sales30 , thanks for posting to the community.

This isn't something I've come across before. @john-pero , do you know how you would input these benefits?

Thanks

john-pero

@JackS thanks for the shoutout. I have a couple of ideas but need to know a little more from @sales30 on what the vouchers are for.

Are these gift vouchers you plan on giving away to customers?

Are the vouchers you purchased to give to employees?

Are they discounts you acquired to use with suppliers?

Those three possibilities come quickly to mind and the middle one can be a stickler. Here in the US, for example, a gift certificate or card or cash, even a trivial amount, is considered a taxable fringe benefit. Alas I do not know the ins and outs of UK tax law on this (but that's why google is everyone's friend, lol)

So, awaiting further clarification of the makeup and intent of the vouchers and we'll tackle it in detail then.

S

sales30Author

Hi

We're in the UK, a new trivial benefit system has been introduced by HMRC whereby you can purchase up top 6 x £50 vouchers to either use as gifts or give to yourself/members of your household with no tax liability

We bought 3 at Christmas but there doesn't seem to be an option within quickbooks to allocate these to, may be payroll/director dividend etc but that would in effect become taxable?

Thanks

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