How would I record gym membership for employees?

[zaja]

Hi

I’m paying through the company gym membership as a benefit to an employee. How should I tag it? and should I record it in a journal?

Thanks

[QFSteve]

Hello @zaja

The support team are not registered accountants and I would reccomend checking this with your accountant for professional tailored advice as this may affect your payroll also.

I will leave this post open for the moment as there are some accountants on the forum who may wish to comment.

[cbstephensaca]

It’s probably best to set up a new code, as you will need to keep track of this cost separately from other expenses. This is because at the end of the tax year, you will need to report it to HMRC as a benefit in kind.