Brendan Burgess
Founder
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5 tax-free awards.
These are measures that are just being announced in the budget today, details will follow.I can't find information on this, can you explain more?
Have they announced if this comes into effect in 2024 or in 2025? The last time that they increased it (from €500 to €1,000) it came into effect in the same year.
Small Benefit Exemption
From 1 January 2025 the number of annual vouchers
or benefits is increasing from the first two to the first
five and the exemption limit is increasing from €1,000
to €1,500. The exemption will cease to apply for tax
year 2030 and subsequent years
That was my first thought. In effect it’s just an increase in the tax free allowance for people employed by employers who are bothered to facilitate it.It would be far more honest, cheaper and simpler to raise the PAYE and earned income credits by an appropriate sum.
Additional expense for employers too. Vast majority of people get these at Christmas as a single voucher.The country will literally be swimming in vouchers.
And as usual, nothing for the self-employed.
It would be far more honest, cheaper and simpler to raise the PAYE and earned income credits by an appropriate sum.
For some of us, it's just allowing our employer to pay our professional subs without us being taxed for itThe country will literally be swimming in vouchers.
And as usual, nothing for the self-employed.
It would be far more honest, cheaper and simpler to raise the PAYE and earned income credits by an appropriate sum.
Nor public sector workers either where vouchers are almost never awarded.And as usual, nothing for the self-employed.
Nor public sector workers either where vouchers are almost never awarded.
I understand, those who are self-employed, who are directors/employees of their own company, can award these vouchers to themselves?The country will literally be swimming in vouchers.
And as usual, nothing for the self-employed.
Yes correctI understand, those who are self-employed, who are directors/employees of their own company, can award these vouchers to themselves?
Can a self-employed carpenter with no staff award herself a €1,500 voucher as a cost of sales? I don’t think so.those who are self-employed, who are directors/employees of their own company
If she is an employee / paid director in her own company, my unterstanding is she can award herself the small benefitCan a self-employed carpenter with no staff award herself a €1,500 voucher as a cost of sales? I don’t think so.
There's an oxymoron in there.I understand, those who are self-employed, who are directors/employees of their own company, can award these vouchers to themselves?
There's an oxymoron in there.