Benefits in kind has been saved
Benefits in kind
Small Benefit Exemption
Tax savings for both the employee and the employer.
Employment taxes have become more complex and burdensome in recent times mainly due to Revenue changes in the tax treatment of Benefits-in-Kind (“BIK”). However there are some Revenue concessions available which can enable tax savings for both the employee and the employer.
The Small Benefit Exemption (“SBE”) was previously a Revenue concession in respect of small gifts/awards provided to employees by employers. The 2016 Finance Bill brought this concession into legislation and increased the benefit from €250 to €500.
For more information on the benefits for employees and employers download the Benefits in kind: Small Benefit Exemption guide.