BIK on concert tickets

2forjoy

Hi,

Won 2 x Concert tickets to Westlife . Lovely premium tickets . I am going to be charged BIK on these .
Can I claim back from Tax office ?

2forjoy

2forjoy wrote:

Won 2 x Concert tickets to Westlife . Lovely premium tickets . I am going to be charged BIK on these . Can I claim back from Tax office ?

Ffs

2forjoy

Deleted User wrote: »

Ffs

I know. But its an in-house employee competition and they they said they are BIK.

Lackadaisical

I'd just refuse the tickets. Sounds more hassle than it's worth.

On what basis do you think you could claim it back? There's no real reason why you'd get a refund on BIK.

2forjoy

Lackadaisical wrote: »

I'd just refuse the tickets. Sounds more hassle than it's worth.

On what basis do you think you could claim it back? There's no real reason why you'd get a refund on BIK.

There is no basis for claiming back . I was told I will pay BIK

Lackadaisical

2forjoy wrote: »

There is no basis for claiming back . I was told I will pay BIK

But you asked if you could claim it back from the tax office?

2forjoy

Lackadaisical wrote: »

But you asked if you could claim it back from the tax office?

Exactly . I am been charged BIK. So my question here is can I claim anything back ?

2forjoy

Lackadaisical wrote: »

But you asked if you could claim it back from the tax office?

My company pay my health insurance and I reclaim BIK on this , so if the company pay me 200e in concert tickets , can I claim BIK

Victor

"Won" suggests a competition. Competitions usually aren't taxed.

There is an allowance of €500 per employee per year for things like this, summer barbecues, Christmas parties, etc. before BIK kicks in.

relax carry on

2forjoy wrote: »

My company pay my health insurance and I reclaim BIK on this , so if the company pay me 200e in concert tickets , can I claim BIK

The only reason you can claim relief on your health insurance premium paid by your employer is the premium doesn't have tax relief applied at source like buying it privately. There's no such thing as reclaiming BIK. BIK is the value of something you are then taxed on not the tax itself.

dennyk

relax carry on wrote: »

The only reason you can claim relief on your health insurance premium paid by your employer is the premium doesn't have tax relief applied at source like buying it privately. There's no such thing as reclaiming BIK. BIK is the value of something you are then taxed on not the tax itself.

To clarify for the OP, the tax relief you can claim on private medical insurance premiums paid by your employer is specifically a tax relief on private medical insurance premiums, not a relief on BIKs in general. That particular relief isn't applicable to the tax you pay on any other kind of BIK.

rd1izb7lvpuksx

Victor wrote: »

"Won" suggests a competition. Competitions usually aren't taxed.

There is an allowance of €500 per employee per year for things like this, summer barbecues, Christmas parties, etc. before BIK kicks in.

The €500 non-cash allowance should cover this, but competition prizes are taxed as income in Ireland. The exception is the state lottery.

Victor

Cayden Rhythmic Umbrella wrote: »

The €500 non-cash allowance should cover this, but competition prizes are taxed as income in Ireland. The exception is the state lottery.

But betting and exam scholarships are also exempt.

If I win something in a charity raffle, is it taxable? Or are you referring to something employment-specific?

rd1izb7lvpuksx

Victor wrote: »

But betting and exam scholarships are also exempt.

If I win something in a charity raffle, is it taxable? Or are you referring to something employment-specific?

I misunderstood the law on this - my apologies.

okidoki987

Won 2 x Concert tickets to Westlife . Lovely premium tickets . I am going to be charged BIK on these .

In all the years working and giving away 100's of prizes to staff, I have never heard of anybody ever being charged BIK in a staff competition for a prize that low in value.
They could just put it down to "staff entertainment" and leave it at that?

Anyway they should be paying you for the fact you have admitted going
to the concert!

2forjoy

Thanks all. If and when this comes through on payslip , I will let ye know .

barneystinson

2forjoy wrote: »

Thanks all. If and when this comes through on payslip , I will let ye know .

Does your employer already give you any form of untaxed bonuses like a voucher at Xmas or similar..??

There’s an exemption that others have alluded to, but it’s only for one thing a year, up to €500 in value.

Victor

barneystinson wrote: »

There’s an exemption that others have alluded to, but it’s only for one thing a year

I thought it was a total of €500 per year.

Seve OB

Victor wrote: »

I thought it was a total of €500 per year.

Nope. Once off. And if you get something for 300 and it’s applied then another thing for 500 later in year we’ll its tough, tax due on that.

As for op original question, answer is technically yes. But I agree with poster who says it should be put down to staff entertainment, let auditors pull it up and company should take the hit on paye if and when it arrises