LONDON
Almost half of the agencies organising incentive travel programmes fail to draw their corporate clients' attention to tax implications of such schemes.
The finding comes from the Incentive Travel and Meetings Association (ITMA), which recently surveyed a number of agencies specialising in creating and managing motivational travel programmes to assess their awareness of the British Inland Revenue's Taxed Award Scheme.
Overall, 47% of those surveyed were unaware of the scheme, which enables employers to pay tax and national insurance contributions on behalf of incentive partici- pants. Of those who were familiar with it, 80% said they "routinely advise" clients on tax liability.
ITMA executive director Mr Charles Robinson explained to make the research more representative of the industry as a whole, it had also included non-ITMA members.
"This survey highlights the need for comprehensive information on the issue of taxable benefits in kind," he said.
ITMA shows UK agencies fail in tax information - Sep 01
Almost half of the agencies organising incentive travel programmes fail to draw their corporate clients' attention to tax implications of such schemes.