Money: Relocation limit lowered

Saturday 06 February 1993 00:02 GMT

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THE INLAND Revenue has reduced the amount that employers can give tax free to employees to compensate them for relocation to a more expensive housing area. The maximum has been reduced from pounds 18,060 to pounds 13,440 'to reflect recent reductions in mortgage interest rates'. The new rate applies to all moves that take place after 1 February.

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