Overview

This playbook covers the set up and configuration of Benefits in Kind (BIK).

If the benefit provided to your employee is a cash equivalent and has a tax implication, then the employee is taxed each period. The employee’s taxable income includes the value of the taxable benefit.

The payroll process applies the relevant taxes (subject to PAYE PRSI, USC) on the taxable value of each benefit.

These are the calculation cards for BIK:

• Taxable Benefits at the organization level
• Taxable Benefits at person level

Benefit Types

• Car
• Van
• Preferential Loans
• Medical Insurance
• Dental Insurance
• Assets Transferred
• Use of Assets
• Goods Provided
• Accommodation
• Furniture Provided
• Subscription and Other Payments
• Payments on Behalf of Employee
• Staff Discounts
• Staff awards
• Vouchers
• Miscellaneous