Benefit in kind, calculating how much i'm liable for

veryangryman

So employer pays health insurance to me to value of say 1,400 per year as BIK and i make north of the marginal tax band.

How much tax do i pay applied to my gross on this assuming single person?

purpleisafruit

Open to correction but you can claim a tax credit of 20% on the first €1000 of health insurance paid by your employer.
I get a €500 tax credit for myself, wife and child with employer paying about 3k for our health insurance.

Squatter

veryangryman wrote: »

So employer pays health insurance to me to value of say 1,400 per year as BIK and i make north of the marginal tax band.

How much tax do i pay applied to my gross on this assuming single person?

As I understand it, the employer's contribution is treated as part of your gross pay.

So the amount that your employer paid for the insurance is added to your gross pay, then tax, usc and prsi are taken from it in the normal way. I assume that this can either be done in one salary cycle or spread across a few payroll cycles.

As purple stated above, you can then apply for the 20% tax credit through Revenue's "myaccount".