QUIDs voucher sales top €1m mark

Sales of QUIDs, Tullamore shopping vouchers, have now surpassed the €1million milestone since the scheme began.

QUIDs are gift vouchers that can be used like money, exclusively in Tullamore. They can be spent at over 100 local and national businesses across Tullamore, including grocery stores, fashion shops, hotels, restaurants, home heating fuel providers, and golf clubs.

Introduced in 2008 by Tullamore Chamber of Commerce and Tullamore Credit Union, the QUIDs scheme allows employers to take advantage of Revenue's Small Benefit Exemption Scheme to reward their staff tax-free. Since 2022, employers can now gift up to €1000 to a PAYE employee in one year doubling the previous limit. In addition, the benefit can now be twice per year, the total benefit not to exceed €1000.

For an employee on the top tax rate, a gift of €1000 in QUID vouchers saves over €1314 compared to giving the cash equivalent after taxes. Unlike other voucher schemes, there are no commissions, fees, or other charges, which results in further savings. QUIDs Shopping Vouchers are accepted in over 100 outlets around Tullamore, making it a useful, easy, and efficient way to reward your staff this year.

The QUIDs Shopping Voucher scheme is operated by Tullamore Credit Union and Tullamore Chamber of Commerce. To order, please email info@tullamorechamber.com. Visit www.tullamorechamber.com for more information.