2024 Tax-Free Benefits FAQ
Download our 2024 Tax-Free Benefits FAQ 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.
Calculate your tax-savings with CleverCards
| 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.
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
Get started with CleverCards
Join 10,000+ companies that have already experienced the smart and hassle-free way of paying out employee benefits!