€250 Xmas bonus

Q

querydavid

Registered User
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10
Small benefits 250 voucher provided to employees, this question comes up every few years but answer is never clear can a company director avail of this.

Note on the Revenue website benefit-in-kind it states that "where the employee is a director of the company the benefit is taxable regardless of the level of remuneration".

So can directors avail of it?
 
Have you a link to where it says directors are not eligible ? - i always thought they were
 
Unfortunately that makes the water muddier, the last post in that thread states that the money is declared on the directors income so does that not mean tax is paid on it.... !!!!!?
So the 250 euro is not tax free
 
Yes, I think you can give yourself the 250 voucher- as long as it is a voucher- that is what my accountant told me and she is a stickler...
 
The exemption is in the first instance on the employer having to operate PAYE/PRSI on giving the voucher - so the company doesn't have to treat it as pay.

I'm not sure about the individual taxpayer, I can't find anything to support or refute the point about the amount needing to be returned by the director on their own personal income tax return. To be fair though, if in the course of an audit, you end up in an argument with a tax inspector about whether or not this €250 voucher was taxable, you'd have to be dealing with a pedant of the highest order.
 
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