Tax efficient payment of benefits in kind (BIKs) and certain emoluments


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 or in a tax efficient manner.

This article provides s a summary of some of the main “every day”, tax efficient methods by which employers can reward employees.

You can read our full article on the effect of these amendments here.

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