I would like to make a purchase of a gift voucher to thank my niece for helping me during a day camp.
I have a few questions about this:
Can I purchase a voucher at any shop, for example a clothing shop?
How can I redeem it and what is the maximum amount I can purchase as a voucher to keep it tax and vAT efficient?
Can I also do multiple vouchers, for example, from £50 as a gift, or do I have to limit myself to one?
Thanks for the information!
Hi,
I would definitely not sell this to the tax authorities in this way, because it mainly looks like you are searching for a way to reward/compensate your niece for the help she offered you (read: paid her, read: paid her under the table). ;)
To do it correctly, you could buy a gift voucher for your niece privately. Or you could purchase the voucher as a business gift and not disclose for which (business) relationship you purchased it. You are allowed to give a business gift worth more than €50, but then the vAT is no longer deductible. And you can only give one business gift per year per relationship, so multiple gifts of €50 is not the solution. You will be entering the grey area of creative accounting, which is always a bit of a gamble, of course. I don't bother with that anymore. The days of the Wild West from taxation are over. Fraud is being cracked down on, and the few pounds I save in deductions are not worth the peace of mind. ;)
Regards, J.
Thank you for the feedback. Very valuable!
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
.svg){kind=small}
