Our support lines are extremely busy as a result of the Temporary Wage Subsidy Scheme being administered through payroll. Our Covid-19 help documentation will generally answer your query.

Also, please note that all of our staff are working from home and may be answering your call in a sometimes chaotic home environment. Please be patient with us.

The operational phase of the wage subsidy scheme, details of which were announced on 15th April, takes effect 4th May. The software has been upgraded to support this.

BIK Preferential Loans

For further information on Benefit in Kind, click here

To access this utility go to Employees > Update employee benefits > Click Loans

  • Enter Amount of Preferential Loan

The amount entered should be the original loan amount if it was made this tax year or the loan amount outstanding at the start of the tax year.

If the period of the loan is for less than one tax year, you should enter the average outstanding for the portion of this tax year that the loan is active.

  • Enter interest rate being charged if applicable
  • Enter the start date of loan
  • Enter the end date of loan if the loan expires before 31st December
  • Click 'Update file and show calculation of notional pay'

* Please note, the loan benefit will be added to the employee's gross income each pay period to ensure that the correct PAYE , USC & PRSI are charged.

 

SUBSEQUENT LOANS

*Please note, the original loan should NOT be removed. Simply enter the end date of original loan and start the new loan in the section provided.

  • Enter the end date of original loan
  • Enter amount of the new loan

The amount entered would normally be the original loan if it was made this tax year or the loan amount outstanding at the start of the tax year.

If the period of the loan is for less than one tax year, you should enter the average outstanding for the portion of this tax year that the loan is active.

  • Enter the interest rate being charged if applicable
  • Enter the start date of the loan
  • Enter the end date of the loan if the loan expires before 31st December
  • Click 'Update file and show calculation of notional pay'

 

Need help? Support is available at 01 8352074 or support@thesaurus.ie.

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