Small benefit exemption options

[Leo]

You might also seek written confirmation from Perfect Card that their vouchers cannot be redeemed, in full or in part for cash.

Then you will have your answer.

Just to add, ask them to indemnify you against any related charges in the event Revenue don't approve. They're in the business of selling these cards, never take the word of anyone trying to sell you anything.

 

[Joe_90]

Just to add, ask them to indemnify you against any related charges in the event Revenue don't approve. They're in the business of selling these cards, never take the word of anyone trying to sell you anything.

Agree 100%.

 

[mc-BigE]

Can i get amazon Gift Card, does it have to be a physical card or can it be electronic? , does it have to be Irish based or can i get one say in the UK?

also is there such a thing as Paypal gift voucher, or better still could i use a prepay mastercard , like perfectcard through Paypal?

 

[newirishman]

Can i get amazon Gift Card, does it have to be a physical card or can it be electronic? , does it have to be Irish based or can i get one say in the UK?

also is there such a thing as Paypal gift voucher, or better still could i use a prepay mastercard , like perfectcard through Paypal?

We use the pre-paid Mastercard (perfectcard.ie if I recall correctly) for that purpose in the company. Works very well, and as it is a "proper" mastercard it is pretty much usable anywhere. Much more flexible than any brand-specific gift vouchers.

 

[Firefly]

In the case of a small company with 2 directors, does anyone know if 2 x 500 non-cash benefits are allowable, or is this benefit only for "employees" ?

 

[mc-BigE]

Firefly, Directors and Employees and Company secretaries are allowed the 500 non-cash benefit.

Newirishman: can you use the perfectcard in an ATM machine? they mention about fees if you use it in an ATM machine in their T&Cs
however they also say there is no PIN number, so not sure how to get money out if theres no PIN.

Also, can you use the perfectcard online?

 

[newirishman]

Firefly, Directors and Employees and Company secretaries are allowed the 500 non-cash benefit.

Newirishman: can you use the perfectcard in an ATM machine? they mention about fees if you use it in an ATM machine in their T&Cs
however they also say there is no PIN number, so not sure how to get money out if theres no PIN.

Also, can you use the perfectcard online?

don't know about ATM machines, but kinda defeats the purpose - and I wouldn't be surprised if there's a significant charge. The perfectcard is essentially a pre-paid mastercard, so again when you can use a mastercard, you can use the perfectcard.

 

[Firefly]

Firefly, Directors and Employees and Company secretaries are allowed the 500 non-cash benefit.

Thanks, just off the phone from my golf club....if I buy 2 x 500 euro vouchers in Dec I can use them off the sub in Jan. That's a net saving of about 500 euro!

 

[mc-BigE]

don't know about ATM machines, but kinda defeats the purpose - and I wouldn't be surprised if there's a significant charge. The perfectcard is essentially a pre-paid mastercard, so again when you can use a mastercard, you can use the perfectcard.

Thanks for that, using it online is what i really want to do , not ATM, but if they have an option of using it in an ATM machine, then that wouldn't qualify for tax free gift, Which is why i asked.

 

[mc-BigE]

quick question? do i have to buy vouchers/ gift card from an Irish registered company? or can i buy from say a UK company like amazon.co.uk or one4all.co.uk instead of the irish version.

obviously to the value of 500 euro , converted to sterling or dollars etc.