Benefit-in-kind (BIK) changes during COVID-19 restrictions

Small Benefit Exemption

The condition that only one incentive be issued per year was waived if you wanted to recognise the efforts of your employees working during the COVID-19 crisis. You could either:

  • accelerate part of an incentive usually paid later in the year
  • or
  • make an additional award.

If more than two incentives were issued, it is only the first two which could qualify for the Small Benefit Exemption.

This concession applied for the 2020, 2021 and 2022 years of assessment.

All other conditions of the section must have been met. For example, the maximum (cumulative) value of the two incentives could not exceed €500. However, as stated above, the requirement to only issue one incentive was waived. If you availed of this concession, you must retain the appropriate documentation.

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