A benefit in kind is any non-cash benefit of monetary value that employers provide for an employee. As the benefits have monetary value, they must be treated as taxable income and are subject to payroll taxes (income tax, PRSI and USC) usually collected through the PAYE system. However not every benefit received by the employee is a taxable benefit in kind, and there are some emoluments, whether in the form of BIKs or an amount of cash, that can be received either free of tax

Finance Act 2017 introduced a new tax-advantaged share scheme in Ireland known as the “Key Employee Engagement Programme” (KEEP). KEEP is an employee share option scheme aimed at helping SMEs to recruit and retain employees in Ireland. Unlike share options granted and exercised under standard share option legislation, the KEEP scheme contains the following tax advantages: • there is no income tax on a grant of a qualifying share option; • there is no income tax or emplo