Revenue has updated the Tax and Duty Manual Small Benefit Exemption (SBE) to reflect Finance Act 2024.
From 1 January 2025, the SBE has been updated to allow employers to give up to five qualifying incentives in a tax year to employees without incurring a charge to tax. To avail of the SBE, the cumulative annual value of the incentives cannot exceed €1,500.
The manual includes details of the applicable limits in prior years on the total value and number of incentives which qualified for the exemption. Additional examples have also been included in the manual.
LOADING...