QUESTION: Can I give my staff a tax free cash bonus before Christmas to reward them for all their hard work this year? ANSWER: If you decide to reward your staff with cash bonuses this Christmas, then this payment will need to be taxed at source through your payroll system as it will be subject to tax and national insurance.
QUESTION: Following Philip Hammond’s Budget last Wednesday, what are the main points I need to be aware of for my family business? ANSWER: The Chancellor noted that whilst there are lots of challenges in the economy, it is not all doom and gloom.
Are you thinking of taking a day or two off work this month, perhaps to get some early Christmas shopping done? If you are a woman, it could be that you don’t need to, because you have been on holiday for the last week.