As a leading provider of Mastercard Gift Cards for the Small Benefit Scheme, Allgo Rewards is offering you a free info pack for your clients.
Our Accountants Pack provides you with our comprehensive Small Benefit Guide 6th Edition and the Allgo Mastercard brochure. Ideal for sharing with clients!
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Allgo Rewards
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Allgo Rewards is an award-winning, guaranteed-Irish company that helps businesses reward staff and save tax.
Allgo provides the market-leading tax-free gift card in Ireland, the Allgo Mastercard Gift Card, which is used by over 6,000 Irish businesses of all sizes to reward their employees tax-free up to €1,000 on the Small Benefit Scheme.
Allgo also provides a points-based technology platform that manages ongoing incentives and recognition programmes for clients in Ireland, UK, EMEA, & Australia.
Founded in 2010, Allgo Rewards employs 40 people in its state-of-the-art offices in the Digital Hub, Dublin 8. See allgo.ie for more details.
Click here to download the FREE Accountants Pack
Small Benefit Scheme
The Small Benefit Scheme (SBS) is a statutory tax relief scheme offered by Irish Revenue that allows employers to provide a tax-exempt benefit to Irish employees of up to €1,000 per year.
To provide tax-free rewards to employees under the Scheme, you must adhere to four basic rules:
1. Below the €1,000 threshold
The benefit cannot exceed the threshold, which was increased from €500 to €1,000 in Budget 2023.
The employer can award an amount of €1,000 or lower, or different amounts to different employees, but no employee can receive more than €1,000 in any one year.
2. Twice per year
The benefit can only be given a maximum two times per year up to a total combined value of €1,000.
As the tax year in Ireland is 1 January to 31 December, this means that an employer can make a €500 award to an employee in January, and then another €500 award in December without any income tax, PRSI (employer or employee) or USC.
3. Non-cash
The benefit must be in non-cash form that cannot be converted into cash. This means that it cannot be paid through payroll, or, for example, on any company expense credit card that could be used at an ATM to withdraw cash.
4. No salary sacrifice
The benefit cannot be funded from a deduction in salary from the employee, so the company needs to be invoiced for the total benefit amount and needs to pay for the total value of the rewards from the company’s own funds.
Click here to download the FREE Accountants Pack
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Allgo Mastercard
The Allgo Mastercard Gift Card is the use-anywhere gift card that gives you the ultimate freedom to choose where you spend – instore, online and even abroad. And it can be bought by all businesses for their Irish employees completely tax-free up to €1,000 on the Small Benefit Scheme.
The physical Allgo Mastercard Gift Card can be spent in-store by swiping through the card machine at checkout or online by first registering the card on our Mastercard portal for 3D Secure.
The Digital+ version can be spent online on any e-commerce site worldwide, and can be added to Google Pay and Apple Pay for spending by tap in-store.
For full details, and to order online, visit allgo.ie/allgo-mastercard-gift-card
Contact Allgo Rewards
Web www.allgo.ie
Email sales@allgo.ie
Tel +353 1 253 0040
Allgo Rewards, Digital Depot, The Digital Hub, Dublin 8, D08TCV4, Ireland
(This article is sponsored by Allgo)
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