Small benefit exemption - gift card recommendations
- Thread starter Nivarg
- Start date
Any use?
Small Benefit Exemption
I'm looking to take €1000 out of my limited company by means of gift card to take advantage of the tax free allowance. It says I can do up to two gift cards totally €1000. The company I'm looking at only does €250 gift cards. If I order 4 at a time will it really be an issue?
www.askaboutmoney.com
We've used Allgo the past couple of years. They can be used anywhere you can use MasterCard, be it instore or online. The cards don't have a PIN which did pose a problem in Spain where the restaurants machines asked for a PIN. This can be over ridden but they didn't want to know. Shops there had no issue accepting the card though. Another one is Perx. We had used One for All previously but found them a bit restrictive.
Looks like SBE will have to be reported in full from January and linked to each employee
Any use?
Top 10 Small Benefit Frequently Asked Questions
The top most frequently asked questions about the €500 Small Benefit Scheme
blog.allgo.ie
No.
Blackrock1
Registered User
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Perx is what we use
Thank you for clarifying.
They've updated that FAQ https://www.allgo.ie/small-benefit-scheme/ and seem to have split that question into two separate questions;Any use?
Top 10 Small Benefit Frequently Asked Questions
The top most frequently asked questions about the €500 Small Benefit Schemeblog.allgo.ie
Q. Can self-employed workers avail of the Scheme?
A. Yes, as long as they are in receipt of “Schedule E” income from their company on which income tax, PRSI and USC is being deducted. As there is no employer PRSI for self-employed workers, the overall tax-saving may be 11.05% less than for employed workers.
Q. Can Sole Traders avail of the Small Benefit Scheme?
A. No, because Sole Traders do not receive Schedule E income from their businesses. Employees of Sole Traders can avail of the Scheme however.
I have a query about this entry;
Q. Do contractors qualify for the Small Benefit Scheme?
A. Yes. How they qualify just depends on how they get paid. If an external contractor is paid through your company’s payroll, then they can avail of the Scheme through you. If they invoice for their services, they can avail of the scheme as an employee of their own company. They cannot qualify both ways.
If a self employed sole trader A regularly invoices another self employed sole trader B for services as a contractor. Does that mean the sole trader B cannot avail of the small benefit voucher either through sole trader A or themselves (sole trader B), as neither of them are registered as a company?
Or would this be a grey area as the Revenue page is a bit thin on detail https://www.revenue.ie/en/employing...tion-of-benefits/small-benefit-exemption.aspx
Q. Do contractors qualify for the Small Benefit Scheme?
A. Yes. How they qualify just depends on how they get paid. If an external contractor is paid through your company’s payroll, then they can avail of the Scheme through you. If they invoice for their services, they can avail of the scheme as an employee of their own company. They cannot qualify both ways.
If a self employed sole trader A regularly invoices another self employed sole trader B for services as a contractor. Does that mean the sole trader B cannot avail of the small benefit voucher either through sole trader A or themselves (sole trader B), as neither of them are registered as a company?
Or would this be a grey area as the Revenue page is a bit thin on detail https://www.revenue.ie/en/employing...tion-of-benefits/small-benefit-exemption.aspx
Steven Barrett
Registered User
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- 5,411
If you are a sole trader and not in receipt of schedule E income, you cannot avail of the scheme. Who you invoice or whether you are called a contractor is irrelevant. You are either a sole trader (can't avail) or limited company where your income is paid though Schedule E (can avail)
time to plan
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Allgo banked with AIB last year and this year have moved to Banking Circle in Germany. My AIB IBB account doesn't recognise the BIC as matching the IBAN so have raised with Allgo but will look at alternatives.
Hello,
Our company distributed Perx cards (in electronic format) to staff.
Essentially an online Mastercard debit card, with an associated app so you can keep an eye on what's left on the card etc.
Easy to link to a Google Wallet, and use for contactless payments.
Our company distributed Perx cards (in electronic format) to staff.
Essentially an online Mastercard debit card, with an associated app so you can keep an eye on what's left on the card etc.
Easy to link to a Google Wallet, and use for contactless payments.
Where did you purchase your swirl gift card. We used these the last two years, now struggling to find a shop that sells them. Too late to order online.