Benefit in Kind
Benefits-in-kind, such as private use of a company car, free or subsidised accommodation and preferential loans, received from an employer, by an employee whose total remuneration (including benefits-in-kind) is €1,905 or more in a tax year, are taxable (subject to certain exceptions).
Where the employee receiving such benefits is a director of the company concerned, the benefits are taxable regardless of the level of remuneration. The liability to tax also applies in respect of benefits provided by an employer for a member or members of an employee's family or household.
In addition, employees and directors are chargeable to tax in respect of 'perquisites' from their employment, that is, remuneration in non-money form which is convertible into money or money's worth, for example vouchers in various forms, the payment of club subscriptions and medical insurance premiums on an employee's behalf.
For more detailed information:
- Employers Guide to Benefit-in-kind
- Frequently Asked Questions
- Cycle to Work Scheme - Frequently Asked Questions (PDF, 411 KB)