Simply allocate the recently announced Small Benefit Exemption Scheme €1,000 Tax Free Voucher for active travel.
The Small Benefit Exemption recently announced by the government allows a company to gift up to €1,000 in non-cash vouchers to all employees. This can be awarded in a single transaction or in two separate vouchers totalling €500 each.
Car orientated dependency and the sedentary lives brought about by working from home for long periods during the pandemic impacts the health, fitness and overall wellbeing of staff. Shifting the daily commute (even for Hybrid workers) to sustainable transport modes like public transport and cycling, will incorporate physical activity into everyday commuting and has been proven to improve health and happiness.
How it works?
1. Notify all employees that the full Small Benefit Exemption voucher of €1,000 is available to them towards the cost of either a bike or commuter ticket.
2. Employees apply for a bike or ticket via the company unique URL for Biketowork.ie or Travelhub.ie (allocated upon registration)
3. Process payment in the normal way via your company unique URL.
4. Hassle free as we will issue the voucher, process all payments and communicate every step directly with employees.
Benefits to Employers
- Increased Staff loyalty – The Small Benefit Exemption has always been a popular way to incentivise and reward staff.
- No payroll headaches.
- Option to provide workers with one or two vouchers in a single year up to a total of €1,000
- Support staff during the cost of living crisis by not only paying for expensive items like annual commuter tickets and bikes but also encouraging long term sustainable transport for all.
- A healthier and happier workforce leads to higher levels of engagement and productivity.
Benefits to Employees
- Non cash benefits that don’t incur income tax, PRSI or USC.
- Extra support from company when facing a difficult winter.
- Bike to Work and Taxsaver Tickets means tax savings of up to 52% on the cost of the bike or ticket.
- Knock on effect of money saving – no need for second family car which could be costing upwards of €10,500 a year to run (not to mention parking costs and road tolls).
If you want to find out more about the Small Benefit Exemption scheme and how this tax free voucher could work to encourage more sustainable transport in your organisation? Or if you already provide for the Bike to Work scheme and want to upgrade to include Taxsaver Commuter Tickets Please contact our customer service team today info@hubex.ie or phone +353 1 5143520.
