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Do you want to give your employees a tax free bonus?

Employers can give employees a small benefit of up to €500 in value, tax free, each year. This benefit must not be in cash. 

If more than one benefit is given in a year, only the first one qualifies for tax free status. Unused allowance amounts cannot be carried over. If a benefit exceeds €500 in value, the full value of that benefit is subject to tax.

Tax-free vouchers or benefits can be used only to purchase goods or services. They cannot be redeemed for cash.

As the vouchers are free off tax, PRSI & USC there is no need to process them through payroll.

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