Payroll information for workers coming off the PUP

Due to the easing of Covid restrictions on businesses many employees are now returning to work. The Pandemic Unemployment Payment (PUP) is taxable in real-time in 2021. This means that there are tax implications for workers returning to work after being on the PUP for...

Claiming Remote / E-working expenses

Remote working is defined as where you are required to work: at home on a full-time or part-time basis orpart of the time at home and the remainder in your normal place of work. Remote working involves: working for substantial periods outside your normal place of...

No more keeping paper invoices, receipts or bank statements!!

One of the major issues for our clients is keeping track of invoices, receipts and bank statements. Many of you will be familiar with routine of trying to gather all this information and then dropping it off to your accountant in order for your VAT returns or annual...

Postponed Accounting for VAT

From 11pm on 31st December 2020 Postponed Accounting arrangements may be applied to all imports from all third countries including Great Britain (UK not including NI). Northern Ireland (NI) remains within the EU VAT regime in respect of goods, but not services,...

Charity SORP

Charity SORP, while not yet mandatory in Ireland is considered by the Regulator in Ireland to be best practice. The Irish Accounting and Reporting Regulations have been drafted by the Charities Regulatory Authority, but it may still take some time before they are...

Tax treatment of Covid supports

Revenue have recently issued the following guidelines on the tax treatment of the various Government supports available to businesses during the pandemic. Temporary Wage Subsidy Scheme (TWSS) TWSS guidance states: In computing the employer’s liability to income tax or...

High Court Warehousing Judgement

Background of the Callaghan Case The couple reside in a 3 bedroom semi-detached property with their 3 young children.  The couple had a mortgage with KBC for €285,647 for their family home which was valued at just €105,000. PIP’s Proposal The PIP proposed a reduced...

Offshore Tax on Assets & Income

The 2017 finance act includes strenuous provisions for getting your tax affairs in order in terms of offshore assets. Any offshore taxes should be tidied up well before the clampdown begins after 1 May 2017. Revenue have access to international data to begin the clamp...

Offshore tax on UK pensions

Pensioners receiving overseas income could face Revenue fines Thousands of pensioners in receipt of overseas retirement income could find themselves facing fines and even prosecution if their tax affairs are not in order by May. Almost 135,000 Irish residents were in...