An employer can now gift a voucher of up to €500 to his or her employees without any income tax, prsi or usc applying to same.
It is subject to the following restrictions:
- The benefit or voucher cannot exceed €500 in value.
- It cannot be exchanged in part or in full for cash.
- It cannot be part of any salary sacrifice arrangement between the employee and employer.
- Only one benefit or voucher per employee may be given in any one year
Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie