Under Irish Revenue’s Small Benefits Exemption Scheme, employers and employees can benefit from a reward of up to €250 in value completely tax free each year. Neither the company nor the employee are liable for PAYE or PRSI, potentially saving €315 in tax (as in the illustration below).
This scheme represents the most efficient way of rewarding staff in Ireland, and used properly it can be both a significant tax saver and an effective employee incentive.
The reward must be a one-off and in non-cash form. AllGo! Reward vouchers are fully compliant with the Small Benefits Exemption Scheme. If you wish to spread out the benefit over the year, AllGo! Points can be used to provide ongoing incentive points, which at the end of the year are redeemed for a one-off reward to comply with the scheme.
We will be happy to give full advice to your company on this scheme and to administer the scheme on your behalf
as a turnkey solution if you wish – for more details, please contact the AllGo! sales team