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SMALL BENEFITS RELIEF INCREASED TO €500

The Minister for Finance yesterday confirmed that the Government's Small Benefits relief - the Benefit In Kind allowance - will be increased from €250 to €500 in time for Christmas 2015. It's great news for businesses nationwide, who can now reward their employees up to €500 in non-cash benefits completely free of Tax, USC or PRSI.

The Minister commented on the news: "For the second budget in a row, every worker and pensioner who pays income tax and or USC will benefit from the changes announced in Budget 2016."

For more information, click here.