BENEFIT IN KIND - PREFERENTIAL LOANS
For further information on Benefit in Kind, click here
To access this utility go to Employees > Update employee benefits > Click Loans
The amount entered should be the original loan amount if it was made this tax year or the loan amount outstanding at the start of the tax year.
If the period of the loan is for less than one tax year, you should enter the average outstanding for the portion of this tax year that the loan is active.
* Please note: The loan benefit will be added to the employee's gross income each pay period to ensure that the correct PAYE , USC & PRSI are charged.
SUBSEQUENT LOANS
*Please note: The original loan should NOT be removed. Simply enter the end date of original loan and start the new loan in the section provided.
The amount entered would normally be the original loan if it was made this tax year or the loan amount outstanding at the start of the tax year.
If the period of the loan is for less than one tax year, you should enter the average outstanding for the portion of this tax year that the loan is active.
Need help? Support is available at 01 8352074 or thesauruspayrollsupport@brightsg.com.