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Tax On Freebies

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bhg481 | 07:23 Thu 19th Sep 2024 | Business & Finance
9 Answers

I know that freebies such as private health care have a notional value which is added to salary and taxed. Will this apply to the use of a corporate box at Arsenal for Keir Starmer and the clothes given to his wife?

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Taxable freebies are benefits paid for by the employer, as part of the pay package.The frocks and box are gifts from friends and supporters, not the same thing.
07:30 Thu 19th Sep 2024

short answer - no

Taxable freebies are benefits paid for by the employer, as part of the pay package.

The frocks and box are gifts from friends and supporters, not the same thing.

A corporate box at Arsenal?

They should be given an OBE for accepting that.

But I'll wait for the photos of what his wife wears,,

Question Author

Interesting, dave. How does it differ from health care? All the gifts were given because of the job he was in so, to me, are a parallel to health care.

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barry - thanks; I see the difference now.

I would have thought these type of gifts should be taxable just like a Taxi drivers tips are taxed.  Sounds like they have been given to them because of the job they do just like a taxi driver.  Or do the rules change when it's an MP getting stuff free. 

Question Author

Good point, shedman

As I’ve posted many times on this site, I work for a FTSE100 company – all employees are explicitly banned from accepting bribes of any kind; however staff are permitted to accept gifts to the value of £25.  Anyone found flouting this rule will be dismissed for gross misconduct.

 

Quite why the great and the good, responsible for running the country (on a salary many times the average of a UK employee) are not similarly banned from accepting bribes, is a mystery to me.

I think they count them as political donations.

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