Starting from January 1, 2024, companies have to tell the Irish tax office (Revenue) about certain tax-free payments they give to employees. This new rule comes from the Finance Act of 2022.
This includes things like vouchers given to employees, as long as the total value each year doesn’t go over €1,000. Revenue will require amount paid and date.
Companies must report payments they make to cover employees' travel and meal costs for work.
This includes: Receipt-based travel and meal costs ;
Set amounts for travel (like mileage rates, CC of motor vehicle);
Payments for working in remote locations or emergencies ;
Money for meals on work sites.
Please Note: Companies don’t have to report when employees use company credit cards or fuel cards.
Before January 2024, companies should check that their way of handling these benefits follows the new rules and Revenue’s guidance. This new reporting helps Revenue see more clearly what tax-free payments are being made to employees.
We have friendly and expert staff who can help companies understand and meet these new reporting requirements.
John Carolan ACMA, CEO of Solve Outsource
Contact Email: firstname.lastname@example.org