Decided to give your staff an extra bonus this Christmas? Ensure that it is recorded properly. You will have to report any Christmas bonuses to HMRC and deduct and pay tax and National Insurance on them.
Bonuses should be included on your payroll, payslips and RTI submission. If you don’t deal with the payroll yourself, you need to ensure you inform whoever deals with it.
Keep up with our 12 Tax Tips of Christmas here: www.p-r-l.co.uk/12-tips
Comments