Payroll Principles (Level 3): Benefit In Kind

Application of PAYE/PRSI & the USC, and how to determine the relevant value for Benefit In Kind. Updated with Budget 2013 details.

Introduction to Benefit In Kind (BIK)

1. What is BIK?
2. What does it mean?
3. How does it work?

Exceptions to the Rule (What items have no Tax Liability?)

1. What can be given to employees without BIK liabilities?
2. Exceptions to the rules. Travel Pass, Bicycle Allowance, Small Benefits, etc.
3. Efficient payment of items, staff discounts.
4. Records required by the Employer

Application of PAYE/PRSI/USC (How it all works?)

1. How to apply the different charges Tax/PRSI/USC
2. How to determine the applicable value (Notional Pay)
3. Records Required for Revenue

General Valuations (What to do with miscellaneous items?)

1. Determine the value of the BIK on miscellaneous items
2. Mobile Phones, Phone Credit, Laptops, Medical Insurance,
3. Home Expenses, Club Membership, use of company assets, etc.

Company Cars (What to do and how much to charge?)

1. Standard BIK formulas for existing cars
2. CO2 BIK formulas for new cars from 2009, (Applicable?...No)
3. Pool Car’s, Car Allowances, Motoring Expenses
4. Change of Car over the course of the year.
5. Required Records

Company Vans (What to do and how much to charge?)

1. BIK formula for private use of Vans
2. Rules for limit use with BIK exemption
3. Pool Van, Van Allowance, Motoring Expenses
4. Change of Van over the course of the year.
5. Required Records

Share based Remuneration (What's that now?)

1. What is it & does it effect and how?
2. Employee PRSI & USC liable.
3. Employer PRSI & PAYE liable?
4. Records required?

Preferential Loans (Cheap loans?)

1. Defining a Preferential Loan
2. Determining the relevant rate, home loan or standard loan.
3. Determining the cost for both the employer and the employee

Please Note the course content maybe subject to change, when possible advance notice shall be issued.