The ShopLK Gift Card qualifies for the Government's Benefit in Kind tax exemption, allowing businesses to reward their staff up to €1000 each free of tax, USC or PRSI. Businesses can save up to €1313.54 per employee when rewarding their staff with ShopLK Gift Cards as an annual reward.
Rewarding your staff with ShopLK Gift Cards is simple, convenient and cost-efficient.
To place a corporate order email info@letterkennychamber.com or call 0749124866
How the small benefit exemption works
Though it is easy to take advantage of the Small Benefits exemption to reward your staff, please bear the following in mind:
The small benefit exemption means that you can get some vouchers or other non-cash benefits each year without paying tax on them. From 1 January 2022, you can get up to 2 benefits each year, up to a total value of €1,000. If more benefits are given in a year, only the first 2 benefits qualify.
The vouchers or benefits can only be used to purchase goods or services. They cannot be exchanged for cash.
Gift Card research has found that a gift that is meaningful to the employee is 2.5 times more important than the cash value of that gift. By rewarding your staff with ShopLK Gift Cards you can give your employees the opportunity to choose a gift that they will remember, making it all the more valuable as a staff reward and it will also benefit the local economy.
