Tax Free Rewards and Benefit In Kind
The Dundalk Chamber Shop Local Gift Voucher qualifies for the Government’s Benefit in Kind tax exemption, allowing businesses to reward their staff up to €1000 annually each free of tax, USC or PRSI.
Businesses can save up to €1313.54 per employee when rewarding their staff with Dundalk Chamber Shop Local Gift Voucher as an annual reward.
How the small benefit exemption works
Though it is easy to take advantage of the Small Benefits exemption to reward your staff, please bear the following in mind:
- The Governments Small Benefit Exemption Scheme means that you can get vouchers, or other non-cash benefits each year without paying tax on them. From 1 January 2022, you can get up to 2 benefits each year, up to a total value of €1,000. If more benefits are given in a year, only the first 2 benefits up to a total value of €1,000 qualify.
- The vouchers or benefits can only be used to purchase goods or services. They cannot be exchanged for cash.
- As an employer you must report details of the date paid and value of this benefit to Revenue.
Research has found that a gift that is meaningful to the employee is 2.5 times more important than the cash value of that gift. By rewarding your staff with Dundalk Chamber Shop Local gift Voucher you can give your employees the flexibility and opportunity to choose a gift that they will remember, making it all the more valuable as a staff reward and it will also benefit the local economy.
Why take advantage of the Government Small Benefit Exemption Scheme and reward your staff with Dundalk Chamber Shop Local Gift Voucher!
Convenient – Our friendly sales team will work with you to manage and deliver your order, ensuring a smooth and secure delivery of your purchase. All orders are dealt with on an individual basis and our team are happy to talk through specific requirements.
Flexible – Accepted in over 330+ outlets in Dundalk and surrounding areas means the Dundalk Chamber Shop Local Gift Vouchers offers a huge range of options for your staff.
Cost Efficient – Businesses can make a saving of up to €1313.54 per employee when rewarding their staff with a Dundalk Chamber Shop Local Gift Voucher as an annual reward as part of the Governments Small Benefit in Kind Scheme. There is no commission charged on the sale of vouchers.
Support – By rewarding your staff with a Dundalk Chamber Shop Local Gift Voucher you guarantee your money stays in Dundalk and surrounding areas. Your business will be associated with a positive local initiative that promotes the ‘Shop Local’ message. Your business supports local jobs.