Saying ‘Thanks’ to staff (using the tax free vouchers)

As we approach December, it’s a good time to consider the small benefits (tax free) allowed by Revenue to say thanks to employees.

This really is a ‘small’ benefit. It would be nice to have this amount increased, but we work with what we have!

The amount allowable is still unchanged at €500 per employee voucher.

Note:

• One voucher allowed per year.
• They cannot be redeemed for cash (should be for goods or services).
• Unused amounts don’t get carried forward (use it or lose it each year).
• You can’t split the €500 into two vouchers for one person (it must be one voucher for €500 or less).
• Any other vouchers thereafter are taxed.

However large or small your staff numbers, it’s a good time to consider cash flow for next month and set aside the money for vouchers if you plan to use these to say ‘Thanks’.

Any questions? Get in touch (email : wendy@wmco.ie)

Have a lovely day (& weekend)

Wendy

[8 November 2019]