BIK Annual Benefits

For general information on Benefit in Kind, click here

To access this utility go to Employees > Update employee benefits > Annual

This section should be used for annual benefits such as medical insurance, accommodation, sports memberships etc. paid by the employer on behalf of the employee.

• Enter a description for the annual benefit e.g. medical insurance, accommodation
  
  
• Enter the cost (annual) to the employer
  
  

Please note: the cost entered must always be the annual cost.  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.

• Enter the employee contribution if applicable
  
  
• If the annual benefit is for medical insurance - tick the box provided to indicate this
  
  
• Enter the start and end date if applicable - if the benefit continues to the end of the tax year, it is not necessary to enter an end date.
  
  

• Click 'Update file & show calculation of notional pay' 

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 benefit and start the new benefit in the section provided. 

• Enter the description for the new annual benefit e.g. medical insurance, accommodation
  
  
• Enter the cost (annual) to the employer - 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.
  

• Enter the employee contribution if applicable
  
  
• If the annual benefit is for medical insurance - tick the box provided to indicate this.
  
  
• Enter the start and end date if applicable - if the benefit continues to the end of the tax year, it is not necessary to enter an end date.
  
  

• Click 'Update file & show calculation of notional pay'

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.