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Where Taxpayers and Advisers Meet

Trivial benefits

smallpc
Posts:3
Joined:Mon Jan 25, 2021 12:48 pm
Trivial benefits

Postby smallpc » Mon Jan 25, 2021 12:53 pm

Hi,

Does anyone know if the 'tax year' that HMRC refer to with regards to allowances for staff parties (£150/yr) and trivial benefits (£300/yr total for directors in small company) is the income tax year (Apr-Apr) or is the financial reporting year / corp tax year of the business?

Many thanks

wamstax
Posts:1956
Joined:Wed Aug 06, 2008 3:39 pm
Location:Operate Nationally but based in Aberdeen
Contact:

Re: Trivial benefits

Postby wamstax » Mon Jan 25, 2021 4:33 pm

Income tax year ending on 5th April
regards and hope this helps
http://www.wamstaxltd.com
Operates Nationally with competitive costs
and email and phone contact (mob 07751720507) can be obtained from websites

smallpc
Posts:3
Joined:Mon Jan 25, 2021 12:48 pm

Re: Trivial benefits

Postby smallpc » Mon Jan 25, 2021 7:31 pm

Thanks wamstax. Against the odds I received a prompt reply from HMRC saying the same


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