PASS IT ON TAX FREE

How can you give it away tax free? You might think, no problem, there is nothing stopping me. And there isn’t. But the person receiving the gift has to pay 1/3 of the gift as Capital Acquisitions Tax (CAT). If you have often wondered how you can pass on some cash tax...

THE EXTRACTION PROBLEM

If you own a business run through a limited company, you know already one of the tax problems we deal with on a day-to-day basis. And that is how to extract cash from the company in as tax efficient away as possible. The normal ways are through salary and dividends …....

Family Loans

The Government has not gone ahead with planned changes to the Capital Acquisitions tax (CAT) treatment of family loans. These plans, announced in the Finance Bill, would have taxed the interest on the loan, based on the borrowing rate rather than on the deposit rate...

HOW TO SAVE TAX: EIIS RELIEF

What are the main ways you can save tax or get an income tax refund? Ideally what you want in a tax saving scheme is to get your money back and a tax reduction at the same time. One of the ways to make a smart tax investment is through an investment in the EIIS. The...

Budget Summary 2022

Following yesterday’s Budget we have compiled the following list of key measures it contains. Key points for individuals: Personal Taxation The income tax standard rate band has been increased by €1,500 for all earners, resulting in the band for single...

Are you ready for the LPT valuation date?

The next valuation date for local property tax (LPT) is 1 November 2021. Taxpayers are required to self-assess the value of their own property. Revenue will contact 1.4 million property owners on their LPT obligations in the coming weeks and has provided an...

Mandatory sick pay to be introduced in Ireland from January 2022

In Ireland, employers currently do not have any legal obligation to pay employees who are absent from work due to illness. In the private sector, it is at the discretion of the employer as to whether or not they decide to pay employees who are unable to work due to...

EWSS June Review Form deadline extended to 15 August

Revenue extended the deadline for the completion and submission of the EWSS Eligibility Review Form in respect of June 2021 to 15 August 2021. The eligibility review form in respect of July 2021 is also due to be submitted on the same date.   The CCAB-I made...

Guidelines on the BRSS (Business Resumption Support Scheme)

Revenue published guidelines on the operation of the Business Resumption Support Scheme (BRSS). The BRSS is a targeted support for businesses impacted by public health restrictions, particularly those businesses that continue to be significantly impacted even after an...
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