Are you giving your Nanny a gift this Christmas?
This year has been challenging for us all..
Has your Nanny gone above and beyond?
Kept your household running smoothly whilst you work from home?
Home Schooled older children whilst juggling a baby and coping with lockdown?
Carried on with a smile on their face even though you know they are struggling ?
Thinking of a Christmas cash bonus?
The amount is entirely up to an Employer, it is commomly worked out as a percentage of the annual salary.
Employers need to be aware that it should be reported via payroll and is subject to Tax & NI.
Giving them a Present?
This may need to be reported to HMRC as a benefit in kind if it is not a 'trivial benefit'
A Trivial benefit is as follows:
Costs £50 or less to provide
Isn't cash or a voucher
Isn't a reward for work or performance
Isn't in the terms of their contract
You don’t need to pay tax or National Insurance or let HMRC know about Trivial Benefits.
A Christmas gift doesnt need to be expensive it is the thought that counts!!!
Thankyou to Karen at Way2paye for the information