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Taxation of refer a friend

  • 10-07-2008 11:57am
    #1
    douglastubbs
    Users Awaiting Email Confirmation Posts: 69 ✭✭


    Hi,
    Company I work for are starting a refer a friend scheme for staff. To me, it is gift from the Company to the individual as it has no relevance to their day job but it could also be considered a bonus. Does anyone have experience of the correct taxation treatment of the gift. We are looking to pay between 500 and 1000 so the 250 limit does not apply.
    Thanks


Comments

  • #2
    Newaglish
    Registered Users, Registered Users 2 Posts: 2,734 ✭✭✭Newaglish


    While not looking up the relevant legislation, I'm fairly sure it falls under Schedule E as a bonus and is taxed along with your regular income.


  • #3
    douglastubbs
    Users Awaiting Email Confirmation Posts: 69 ✭✭douglastubbs


    Hi,
    Thanks already done that and revenue website but nothing specific


  • #4
    Newaglish
    Registered Users, Registered Users 2 Posts: 2,734 ✭✭✭Newaglish


    Well, never mind about the legislation.

    It is definitely taxed as income along with your normal wages!


  • #5
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    renumeration for services in schedule E pecuniaries is drafted very widely. This is a Schedule E employment income.


  • #6
    douglastubbs
    Users Awaiting Email Confirmation Posts: 69 ✭✭douglastubbs


    Thanks all for the advice


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