Taxation of Benefit in Kind

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Everything you wanted to know, but didn't know who to ask! The taxation of Benefits in Kind is one of the most complex issues that payroll personnel and employers have to deal with. The rules are confusing, sometimes apparently contradictory and often involve complex calculations, with hidden costs for both employers and employees.

 

However, the rules also offer opportunities which employers and employees can avail of to minimise their tax liabilities, which many are not aware of.

 

This 1 day training course will discuss the rules and highlight the opportunities which they present to employers. It will include numerous worked examples which will ensure that delegates obtain a thorough understanding of what is discussed. Revenue currently undertake BIK audits. Attendance at this course may make a great difference to the outcome of a Revenue audit and avoid PAYE, PRSI and USC underpayments, penalties and possible publication as a tax defaulter.

 

What is covered on the day?

  • BIK valuation rules
  • What is notional pay?
  • Taxis for staff - the unknown problems
  • Gifts to staff
  • Salary sacrifice
  • Small Benefit Exemption - New Rules!
  • Use of company assets
  • Staff discounts - Updated Rules!
  • Payment of club/gym fees
  • Social clubs and social events
  • Exempt benefits
  • Vouchers
  • Crèche and childcare facilities
  • Third Party Benefits
  • Goods from stock
  • Mobile phones and payment of home phone bills, including internet fees
  • Provision of computers/laptops
  • Company loans, accommodation, Medical Insurance (extremely confusing) and Dental Insurance
  • Company cars, jeeps, vans, trucks, crewcabs, motorcycles - the most common mistakes and the most common problems
  • Rules for Share Based Remuneration
  • Deadline for collection of PAYE, PRSI & USC from employees and hidden costs
  • Administration, records to be maintained, annual Revenue reports - employer's obligations & Forms P11D
  • BIK and periods of leave
  • Exceptional Service Awards
  • Professional Subscriptions

Who should attend this course?
Payroll, HR and Finance managers and staff, or anyone who works in, or is responsible for the Payroll/HR function will find this course to be of immense benefit.

 

Benefits of attending:

  • An opportunity to put your questions to a specialist payroll consultant
  • Small groups to allow time for individual attention  and queries
  • A detailed handout is supplied to each delegate - an invaluable reference document
  • 30 day free telephone helpline service following date of course

Course Presenter
This dynamic course is being delivered by IPASS payroll consultants who have unrivalled knowledge and experience in the operation and calculation of Benefits in Kind.

 

CPD/CPE Hours
Attendance at this seminar may qualify for 7 CPD/CPE hours for members of the Institute of Chartered Accountants in Ireland, the Association of Chartered Certified Accountants, the Institute of Certified Public Accountants in Ireland, the Irish Taxation Institute, the Law Society; Accounting Technicians Ireland and other professional bodies.

 

Timetable
Courses run from 10.00am - 4.30pm - tea/coffee on arrival. mid-morning & mid-afternoon and lunch will be provided.

 

Course Fees 

IPASS Members Non Members

€260

€335

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Contact Information

  • The Irish Payroll Association
  •   IPASS House,
    H4 Centrepoint Business Park,
    Oak Road, Dublin 12
  •   (01) 4089100
  •   (01) 4089102
  • Contact US
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