From 1 January 2023, a new method of calculating Benefit in Kind (BIK) due on company cars will come into effect. So, what is Benefit in Kind (BIK)? BIK is any non-cash benefit of monetary value that you provide for your employee. These benefits can also be referred...
From January 2021, Revenue issued preliminary End of Year statements for all employees for the year 2020. This allowed for employees to review their income tax & USC liabilities (if any) due to receiving the TWSS (Temporary Wage Subsidy). Employers can pay some or...
If so, you must remember that income tax is due on the amount at your marginal rate, including PRSI & USC. Employers are increasingly offering this benefit to their new employees, obviously easing the burden of renting in Ireland, especially if re-locating. As we...
Companies and their directors are seen as two separate legal entities. Therefore, when a director wishes to borrow money from their company for personal use even for a short period of time there are a number of legal restrictions and tax implications to be considered....
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