Employers are reminded that they can give employees up to two small benefits, tax free, each year.
These benefits must not be in cash and the combined value of the two benefits cannot exceed €1,000.
If more than two benefits are given in a year, only the first two may qualify for tax free status. Unused allowance amounts cannot be carried over.
Tax-free vouchers or benefits can be used only to purchase goods or services. They cannot be redeemed for cash.
A single benefit of up to €1,000 may be provided to an employee tax free. If a single benefit exceeds €1,000 in value, the full value of that benefit is subject to tax. Where two benefits are provided, the combined value of those benefits cannot exceed €1,000.
For more information contact McGowan Accountancy Services on (090) 66 25818 or email nuala@