As we approach the end of 2024, businesses across Ireland are preparing for the corporate gifting season, and with it, the opportunities provided by the Small Benefit Scheme (SBS). This scheme has been allowing employers to reward their staff with yearly bonuses in a tax-efficient manner. With the recent budget announcement for 2025, the Irish government confirmed that the SBS limit will increase from €1,000 to €1,500, making this an excellent time for businesses to start planning their corporate rewards and employee recognition programs.
The Small Benefit Scheme is an initiative by the Irish government that allows employers to gift non-cash benefits to employees, tax-free. These benefits are often delivered in the form of vouchers or gift cards. As of 2024, the maximum value for this benefit stands at €1,000 per employee per year and can be distributed in five payments annually. During the corporate gifting season, particularly around Christmas, many businesses take advantage of this by offering rewards as part of their end of year employee recognition efforts.
However, the 2025 budget announcement shows that from 2025, the tax-free limit will rise to €1,500. This increase is designed to further incentivise businesses to enhance their employee engagement strategies and make meaningful, tax-efficient gifts to their staff.
How does the preposed increase in the Small Benefit Scheme 2025 benefit Employers?
Employees appreciate the value of gift card rewards, especially when there are very limited restrictions on where they can be spent. Our SWIRL Gift Cards are powered by Mastercard and offer quick and easy registration for recipients. With the current €1000 limit along with the new limit increase coming into affect in 2025, you can offer your employees even more amazing rewards without any tax implications.
Tax Efficiency
The scheme remains entirely tax-free for both the employer and the employee. With the limit increase, businesses can now provide more significant rewards without incurring payroll taxes, USC, or PRSI, which adds a considerable saving for both you and your employees.
Rewards play a significant role in fostering loyalty and boosting morale. Studies have shown that companies offering regular rewards see a notable improvement in employee retention. As businesses face challenges around staff retention and motivation, this boost in the scheme allows employers to further invest in their people.
According to a survey by Deloitte, companies with a strong employee recognition program are 12 times more likely to achieve strong business results. By taking advantage of the expanded Small Benefit Scheme in 2025, you are not only rewarding staff but potentially strengthening your company’s performance.
Why Choose SWIRL Gift Cards for Employee Rewards this Year?
As a trusted provider of corporate reward solutions, SWIRL Gift is here to help you and your team make the most of the Small Benefit Scheme. We offer versatile physical gift cards that can be used across a wide range of retailers, over 45 million globally, making it a perfect choice for corporate gifting, Christmas bonuses, retirement gifts, employee rewards and recognition programs and lots more.
Ease of Ordering and Fast Delivery:
One of the standout features of SWIRL Gift Cards is the seamless ordering process. We understand that corporate professionals need efficient solutions, and our streamlined system allows for quick and easy orders. Once you’ve made your selection, our fast and reliable delivery service ensures that your gift cards reach their destination promptly, making us a trusted partner for your corporate gifting needs.
Broad Acceptance and Flexibility:
SWIRL Gift Cards are prepaid Mastercards, which means they are accepted at over 45 million locations worldwide both online and in-store. This broad acceptance makes them a highly practical choice for diverse employees of all interests and ages. Whether your team prefer shopping online or in-store, booking trips abroad or simply paying their car insurance with their bonus, SWIRL Gift Cards offer the flexibility they need to get the most out of their well earned rewards.
High-Value Rewards for Employees:
Employees value recognition and appreciation, and high-value rewards can significantly strengthen employee – employer relations. According to a report by Blackhawk Network, 69% of recipients feel more loyal to a business or company that offers high-quality gift cards as part of their employee benefits program. By choosing SWIRL Gift Cards, you are not only providing a reward but also reinforcing that you value each employee on your team!
Planning for the Corporate Gifting Season 2024
While the new limit won’t come into effect until next year, you can still take advantage of the current €1,000 limit for the 2024 corporate gifting season. SWIRL Gift Cards make this process easy and rewarding, offering your employees a versatile, tax-efficient gift your team will love. Corporate gifting is more than just a festive gesture; it’s a chance to boost morale and show your team they are valued and appreciated. By gifting SWIRL Gift Cards, you’re gifting a meaningful, tax-efficient reward that aligns with your company values and what your employees deserve.
To maximize your use of the Small Benefit Scheme for 2024 and beyond, start planning your corporate gifting strategy early. Whether it’s for holiday bonuses, employee of the month or milestone celebrations, SWIRL Gift Cards can provide an ideal solution tailored to your business needs.
Ready to order your corporate rewards for 2024? Place your order below or learn more via our website today and discover how we can help you celebrate your employees in style this Christmas!
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