Employer tax tips

  • Do not pay a net wage into an employee’s hand when agreeing the terms of employment.
  • Agree a gross wage and then allow the employee tax credits against same.
  • If paying a bonus, why not consider the annual voucher of €500?
  • The provision of a gym by the employer in the place of work is not a benefit-in-kind.
  • General tips

  • Ensure you get your accounts and tax prepared early in the year.
  • Budget for the liability.
  • Know the difference between profit and cash.
  • Review and update your will every other year to ensure that all assets are included.
  • Tax-saving does not need to be carried out at a high level to be effective.
  • Get the basics right and keep enforcing the basics each year.
  • Read more

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