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Small Benefit Exemption Scheme Infographic

Irish Revenue's Small Benefit Exemption Scheme allows employers to reward their employees with up to €500 completely tax-free.

Here are three key things to bear in mind this bonus season.

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Small Benefit Exemption Scheme Infographic

  1. 1. SMALL BENEFIT EXEMPTION SCHEME The Small Benefit Exemption Scheme means that employers can reward their employees with an annual bonus of up to €500 completely tax­free.  HERE ARE 3 KEY THINGS TO BEAR IN MIND THIS BONUS SEASON. Bonus Must Be Paid in Non­Cash Form  Employers typically opt for gift cards, but there are other means to offer employees non­ cash bonuses. FOLLOW US! @Allgo Rewards www.allgo.ie Only One Bonus Per Employee Per Year  Only one tax­free benefit can be given to an employee in one tax year, even if you do not take the full €500. Both Employer and Employee Benefit  Neither the company nor the employee will pay PAYE, PRSI or USI, potentially saving €653.65 in tax.

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Irish Revenue's Small Benefit Exemption Scheme allows employers to reward their employees with up to €500 completely tax-free. Here are three key things to bear in mind this bonus season.

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