BENEFIT IN KIND - ANNUAL BENEFITS
For further information on Benefit in Kind, click here
To access this utility go to Employees > Update employee benefits > Select "Annual"
This section should be used for annual payments such as medical insurance, accommodation, sports memberships etc. paid by the employer on behalf of the employee.
Input the annual cost of benefit. If the benefit is only for part of the tax year, input the annual cost of the benefit and the start and end dates will make the appropriate adjustments
If the benefit continues to the end of the tax year, it is not necessary to enter an end date.
The Notional Pay will be added to the employee's Gross Income each pay period to ensure that the correct PAYE, USC and PRSI are charged.
SUBSEQUENT ANNUAL PAYMENTS
*Please note: The original annual payment should NOT be removed. Simply enter the end date of the original payment and start the new payment in the section provided.
Input the annual cost of the benefit. If the benefit is only for part of the tax year, input the annual cost of the benefit and the start and end dates will make the appropriate adjustments
If the benefit continues to the end of the tax year, it is not necessary to enter an end date.
The Notional Pay will be added to the employee's Gross Income each pay period to ensure that the correct PAYE, USC and PRSI are charged.
Need help? Support is available at 01 8352074 or thesauruspayrollsupport@brightsg.com.