Benefit in Kind and Expenses

Course description

Everything you wanted to know, but didn’t know who to ask! The taxation of Benefits in Kind (BIK) and the payment of expenses free of tax are some of the most complex issues that payroll personnel and employers have to deal with. The rules are confusing, sometimes apparently contradictory and often involve complex calculations, with hidden costs for both employers and employees.

However, the rules also offer opportunities which employers and employees can avail of to minimise their tax liabilities, which many are not aware of.

This training course will discuss the rules and highlight the opportunities which they present to employers. It will include numerous worked examples which will ensure that delegates obtain a thorough understanding of what is discussed.

BIK and the payment of expenses free of tax come up as an issue in many Revenue compliance interventions and audits. Attendance at this course may make a great difference to the outcome of a Revenue compliance intervention and avoid PAYE, PRSI and USC underpayments, penalties and possible publication as a tax defaulter.

Since 1 January 2024, employers are obliged to report details of certain expenses and benefits (reportable benefits) provided to employees on a real-time basis. This course will explain the information which must be reported on or before the date it is provided to employees.

Who should attend this course?

Payroll, HR and Finance managers and staff, or anyone who works in, or is responsible for the Payroll/HR function will find this course to be of immense benefit.