Taxpayers who have availed of the Debt Warehousing Scheme (DWS) have until 1 May next to engage with Revenue to ensure that they remain eligible to avail of the scheme. What is DWS? The DWS was established at the start of the pandemic and it allowed taxpayers to defer payment of taxes until activity levels […]
TAX DEBT WAREHOUSING – 1 MAY DEADLINE FAST APPROACHING Read More »
Employers need to be aware that ALL gifts to employees are within the scope of the Small Benefits Exemption By Dave Hickey FCA What is the Small Benefit Exemption? Since 01 January 2022, employers can give directors (who are on payroll) and employees up to two small benefits, tax free, each year. These benefits must
THAT EASTER EGG GIFT MAY HIDE A FUTURE TAX BILL Read More »
Employers must report a lot more about tax-free payments made to employees from the start of this year. Michelle Egan C.T.A., Tax Manager with DHKN, looks at what employers and payroll departments need to look out for. WHAT ARE THE ENHANCED REPORTING REQUIREMENTS (ERR)? A new Enhanced Reporting Requirements (ERR) has come into effect from
ENHANCED REPORTING REQUIREMENTS – WHAT EMPLOYERS NEED TO DO NOW Read More »
Budget 2024 introduced some measures to soften the impact of the cost-of-living crisis but employers will continue to be under pressure to increase wages in 2024. By Dave Hickey F.C.A. Introducing Budget 2024, Minister Michael McGrath said that he expects “living standards will improve for the vast majority in the next 12 months, with incomes
HOW COULD BUDGET 2024 IMPACT ON WAGE DEMANDS? Read More »
Budget 2024 made changes to tax bands, tax credits, USC and introduced or extended some personal reliefs. Tax Bands & Tax Credits There is an increase of €2,000 in the income tax standard rate band cut-off point for all earners in 2023. The increases are as follows: Single, widowed or surviving civil partner from €40,000
BUDGET 2024 – PERSONAL TAX IMPACTS Read More »
By Mark Gibbs, F.C.A. The Employment Investment Incentive (EII) aims to encourage individuals to provide equity-based finance to unquoted private trading companies to create employment. EII is a tax relief incentive allowing investors who qualify (individuals not connected to the company) to deduct the cost of their investment in a company from their total income,
EMPLOYMENT INVESTMENT INCENTIVE SCHEMES – WHAT YOU NEED TO KNOW AS AN INVESTOR Read More »
Peace of mind is usually the top reason given for making a timely and complete tax return but there are many others. By Dave Hickey FCA As we enter the last quarter of the year, we are nearing a plethora of tax deadlines, as outlined previously here. If you have earnings outside the PAYE net
TAX DEADLINES ARE LOOMING: WHY YOU NEED TO FILE YOUR TAX RETURN Read More »
By Dave Hickey F.C.A. Sole Trader and Limited Company are two of the most common business structures in Ireland. If you’re just starting out, or even if you’ve been in business for a while, you may be wondering what is the best option for you. Below we look at some of the considerations, but this is
SOLE TRADER VS LIMITED COMPANY Read More »
Forthcoming changes on how tax on income from properties owned by non-residents place more responsibility on the landlord for the proper reporting and withholding of tax. By Eoghan McGuire C.T.A., F.C.A. and Yvonne Moloney A.C.C.A., C.T.A. From 1 July 2023, Revenue will introduce a new administrative regime for rent paid to non-Irish resident landlords. There
TAX FOCUS ON NON-RESIDENT LANDLORDS Read More »
PLAN NOW TO MINIMISE YOUR 2021 & 2022 TAX BILLS By Dave Hickey It’s Race Week in Galway and, as ever, I was told yesterday: “We won’t feel it now until Christmas”. While it’s still only July, there is something to be said to looking ahead to the end of 2022 to see what can
CLEAR YOUR 2022 TAX HURDLES Read More »
