Benefit In Kind... Gift due to long service

Blub123

Hi
Recently hit a milestone with respect of the NR of years with my current employer.
Have been advised that the company wishes to mark the milestone thru the purchase of a watch for me. Value will be circa 4 k.
In terms of BIK, is this something that would need to be declared and therefore I'd be subject to tax on it?

Thanks

lashes34

Of course it would be liable to BIK, how could it not? Its related to employment, tax has to be paid.

Three More Big Sleeps

For reference, Blub...

https://www.revenue.ie/en/employing-people/benefit-in-kind-for-employers/other-benefits/service-and-performance-schemes-and-awards.aspx

Nevermind the other three conditions, you're snookered on condition 3.

Marcusm

Many employers gross up long service awards and settle the tax themselves such that the employee receives the gift without any tax or PRSI costs.