This article outlines some of the different ways employers can reward their staff and the tax implications of each approach.
Seemingly as quickly as it came, another year is galloping off into the distance and people’s minds are beginning to turn to the festive holidays. Employers will want to show their staff that the year’s hard work and dedication has not gone unnoticed.
There are many ways that an employer can go about rewarding their staff, from gifts and bonuses to parties. And while it may at first seem like the only factors that need to be factored in are whether or not your employees actually deserve to be rewarded and how much money you are willing to spend, as with most things there are tax obligations to consider too. More…