HMRC have updated their guidance on tips gratuities service charges and troncs to note that although new legislation tightened up the law around the distribution of tips with effect from 1 October 2024 (with a view to making sure tips intended for employees are actually passed onto the employees) the tax treatment of these payments remains unchanged.
The employment law provisions are set out in the Employment (Allocation of Tips) Act 2023 key provisions of which were brought into force on 1 October 2024 by SI 2024/829.
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HMRC have updated their guidance on tips gratuities service charges and troncs to note that although new legislation tightened up the law around the distribution of tips with effect from 1 October 2024 (with a view to making sure tips intended for employees are actually passed onto the employees) the tax treatment of these payments remains unchanged.
The employment law provisions are set out in the Employment (Allocation of Tips) Act 2023 key provisions of which were brought into force on 1 October 2024 by SI 2024/829.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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