Small Benefit Exemption Scheme Calculator
Under Ireland’s Small Benefits Tax Exemption Scheme, employers and employees can receive tax-savings for employee benefits they offer their workforce such as employee bonuses. Employers can give their employees up to two tax-free rewards in a year, rather than one, up to combined value of €1,000. To calculate the amount of tax savings, simply enter the amount of benefits and number of employees in the below calculator and see the savings.
Calculate your tax-savings with our Small Benefits Exemption Scheme Calculator
| Through Payroll | Through | |
|---|---|---|
| Total payment to employees | €20,833.30 | €10,000.00 |
| PAYE at 40% | €8,333.32 | €0.00 |
| USC at 8% | €1,666.66 | €0.00 |
| PRSI at 4% | €833.33 | €0.00 |
| Net Reward per employee | €1,000.00 | €1,000.00 |
| Employer PRSI at 11.05% | €2,302.08 | €0.00 |
| Total cost to employer | €23,135.38 | €10,000.00 Tax Savings: €13,135.38 |
Total cost via:
Payroll:
€23,135.38
:
€10,000.00
Tax Savings with CleverCards: €13,135.38
See breakdown
- Total payment to employees:
- €20,833.30
- PAYE at 40%:
- €8,333.32
- USC at 8%:
- €1,666.66
- PRSI at 4%:
- €833.33
- Net Reward per employee:
- €1,000.00
- Employer PRSI at 11.05%:
- €2,302.08
- Total cost to employer:
- €23,135.38
*Please note that the tax-free benefit values mentioned here are as per the Small Benefit Exemption in Ireland for 2023. Tax regulations and exemption thresholds may vary from one country to another. We recommend consulting with a local tax advisor or relevant tax authority to understand the specific rules and benefits applicable to your country.
Small Benefits Exemption Scheme Calculation Examples
Here are some examples of how much your business could be saving with the Small Benefits Exemption Scheme
Our Downloadable Guide
Download our tax-free guide to learn all about the Small Benefit Exemption scheme and how all businesses in Ireland can save up to €1,313 per employee per year when gifting their employees with CleverCards.
FAQs
Hear it from our customers first
"Our team has been thrilled with CleverCards. Unlike other gift cards, they can use their CleverCard anywhere by adding it to their phone wallet, whether it's Apple Pay or Google Pay. This flexibility has really boosted morale and created a great buzz in our workplace."
Danica Murphy
Director of Prism Leadership & Change Consulting Ltd., Prism LCC
"CleverCards is the best way to incentivise and reward our employees. With our previous supplier, it was very time-consuming to order and distribute physical gift cards. With CleverCards we can distribute the cards instantly to all of our employees via email and they are delighted that they can use them anywhere. Best of all, the gifts are tax-free."
Alan Henley
Managing Director, Granite
"CleverCards streamlined our employee gifting at Republic of Work a making it an easy and smooth experience. We were able to deliver the cards instantly to all our employees via email, so there was no need for manual distribution. Besides, embracing digital cards also aligns with our commitment to sustainability by reducing plastic usage."
Frank Brennan
CEO, Republic of Work
Have you calculated how much you can save with the Small Benefit Exemption Scheme?
Join 10,000+ companies that have already experienced the smart and hassle-free way of paying out employee benefits!