Tax free bonus for staff.
Did you know you can give your staff a tax free bonus of 250 Euros this Christmas. The only condition is, it must be in the form of vouchers.
This is from the Revenue Commissioners:
Does a taxable benefit arise where as a result of a company raffle or draw for employees, an employee receives a non-cash prize for best performance?
A taxable benefit will arise in these circumstances. However, where the prize is in non-cash form, if the value is less than €250 and no other non-cash benefits has been received by the employee during the year, PAYE/PRSI need not be applied (covered by the one off small benefit exclusion).