Revenue has published an updated Tax and Duty Manual to reflect Finance Bill 2022 changes to the small benefit exemption that take effect for 2022 and subsequent years, pending the passing of the Finance Bill.
The changes allow for an increase in the number of benefits that can be given from one to two, with an increase in the combined aggregate value of benefits in any one tax year to a maximum of €1,000. If more than two such benefits are given in one year, only the first two may qualify for tax exemption, where all other conditions are satisfied.