Tax Free Benefits for Employees and Directors

• Interest free or low interest loans to the value of no more than £10,000 in the tax year
• Relocation payments and expenses to the value of £8,000
• Vouchers and gifts to the value of £50 (capped at £300 per annum for a director)
• Staff entertaining, ie Christmas or summary party – up to £150 inc VAT a head
• Up to £500 of independent pension advice
• Employer’s contributions to an employee’s pension scheme
• One health screening check-up and one health medical assessment
• £4 a week for employees who regularly work from home
• Long service awards for 20 years’ service of up £50 a year
• Award schemes (ie staff suggestion scheme) generally exempt to a maximum of £5000
• Provision of one mobile phone
• Work related training
• Onsite sports facilities/gym
• Onsite parking facilities
• Season ticket for a nearby public car park
• Cycling safety equipment and storage (as long as the employee cycles to work)
• Onsite childcare/nursery

The above list is not exhaustive, however these are the most common occurring items.  Often with the tax free benefits there are caveats attached to enable the benefit to be tax-free.  If you are unsure as to whether something is a taxable benefit or not, please get in touch and we can help guide you.