Tax-free rewards up to €500

Perx and the Small Benefits Scheme

Perx rewards can be used as part of the Small Benefits Scheme in Ireland.

Under the Small Benefits Scheme, company directors and employees can receive a bonus up to €500 in value each year. This bonus is a once-off, tax free benefit and cannot be given as cash or through payroll but it can be in the form of gift cards including vouchers.

This is where Perx comes in.

Perx Reward cards are fully compliant with the Small Benefits Scheme. While our Reload card has a chip and PIN, Perx Reward is swipe and sign only and does not allow for ATM or cash back access. This means it does not count as cash and can be loaded, tax-free with up to €500.

Perx and the HMRC Trivial Benefit for your Employees

Perx rewards can be gifted to your employees, tax-free up to the value of £50 or less under the HMRC Trivial Benefit allowance.

The gift cannot be linked to performance and other terms apply.

Understanding the small print of the Small Benefit Scheme

• The Small Benefits Scheme allows a gift of up to €500 to be given to staff or company directors once a year.
• The benefit can only be given once in every tax year, so for example, you cannot give a Perx Reward of €300 in April, and then €200 in July.
• If you give more than €500 on your Perx Reward card or any staff gift voucher then the full-face value amount will be subject to tax
• The benefit cannot be part of any salary sacrifice arrangement.

Understanding the small print of the HMRC Trivial Benefit Allowance

• You don’t pay tax if the benefit for your employee costs you £50 or less to provide
• The benefit cannot be a cash or a cash voucher
• The reward is not linked to the employees work or performance
• The benefit is not in the terms of their contract