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Close Company Help

Umiq88 · 2019-01-09 13:48:38

On revenue website it states 'Certain benefits-in-kind and expense payments to participators or associates will be treated as distributions.' Can anyone tell me specifically which benefits this refers to as I cannot find a list. Under company cars it states that a motorcycle less than 410kg is not included. Does this mean…

09-01-2019 1:48pm

#1

Umiq88

Registered Users, Registered Users 2 Posts: 1,559 ✭✭✭

Join Date: May 2005

Posts: 1320

On revenue website it states

'Certain benefits-in-kind and expense payments to participators or associates will be treated as distributions.'

Can anyone tell me specifically which benefits this refers to as I cannot find a list.

Under company cars it states that a motorcycle less than 410kg is not included.

Does this mean that a motorcycle is treated as free use of company assets taxed at 5%? Is it possible for a close company to do this?

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