Irish Revenue updated the tax and duty manual on employer-provided vehicles detailing the tax implications when an employer provides a vehicle for an employee’s private use.
The notice was published in eBrief No. 219/24.
The updates are as follows:
- In paragraph 4.1 to outline the current treatment pertaining to the cash equivalent calculation at the start of the paragraph for clarity.
- In paragraph 4.1.3 to reflect the extension of the temporary reduction to OMV further to Finance Act (No. 2) 2023. The title of the paragraph has also been updated to “Temporary Reduction to OMV”.
- In paragraph 6.3 to reflect the extension of relief available in respect of battery electric vehicles to 2027 – as provided for in Finance (No. 2) Act 2023. The table at paragraph 6.3.2, which summarises the battery electric vehicle regime, has also been updated.
- A new paragraph 6.3.1 has been added to show the combined effect of the temporary reduction to OMV and relief available in respect of battery electric vehicles. Example 10, which demonstrates the combined effect, has also been updated.
- In Appendix A, to include a table showing the business mileage applicable from 1 January 2023.
