Thursday, November 12, 2009

Motor Expenses & Subsistence Rate Changes

Motor and Subsistence Rates where reduced by approximately 25% in March of this year. It is vital to ensure all employee expenses that have been reimbursed since this period, have been based on the new rates.
Where an employee receives a value in excess of the actual expense, the general practice of Revenue, is to find the employee liable for PAYE, PRSI and Income Levy on the FULL VALUE of the reimbursement, not just the difference. Thus the employee would either need to return the value of the over payment or else have the full value of the expenses received declared as a form of income.

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