Tax Advice

Reimbursement of Expenses and Travel and Subsistence to Office Holders and Employees

On May 31st 2017 Revenue has provided an update regarding the rules on the reimbursement of Expenses and Travel and Subsistence to Office Holders and Employees. There has been a lot of uncertainty in this area of the last number of years. Following numerous ...

New Mileage and Subsistence rates from April 1st 2017

Revenue have issued new mileage and subsistence rates effective from April 1st 2017. In light of this we also separately provide an update on Revenues view of the tax treatment of the reimbursement of Expenses and Travel and Subsistence to Employees. Our mileage ...

Non Principal Private Residence charge (NPPR) Update

Back in a recent post we flagged a recent decision of the High Court on the deductibility against rental profits of the NPPR charge. This has been appealed by Revenue to the Court of Appeal. Until that appeal is decided Revenue are not in a position to amend assessments or ...

Disclosures of Foreign Income and Assets Update

Following our recent newsletter regarding the 30th April 2017 deadline for making a qualifying disclosure in relation to offshore matters this deadline has now being extended to Thursday 4th May at 5:30pm. Please find below further clarification. This arose from queries the Irish tax Institute received from its members about the regime. The ...

Disclosures of Foreign Income and Assets

This week we are discussing the topic of disclosures of foreign income and assets. As from 1 May 2017, it will no longer be possible to obtain the benefits of a qualifying disclosure if matters included in the disclosure relate directly or indirectly to any of the following: ·         A bank ...

Foreign Earnings Deduction Update

Foreign Earnings Deduction (FED) is a tax relief available to employees of Irish companies who spend time working overseas in any of 28 qualifying countries. See details of these countries below Qualifying Countries 2012 Brazil, China, India, Russia and South Africa 2013 & 2014 Additional qualifying countries

Start Your Own Business Scheme

February 17, 2017 Tax Advice 0 Comment

Have you been unemployed for at least 12 months and have you set up a qualifying business? If so the Start Your Own Business scheme may provide an exemption from income tax up to a maximum of €40,000 per annum for a period of 2 years. The relief only applies to ...

Capital Gains Tax Relief For Entrepreneurs

December 19, 2016 Tax Advice 0 Comment

In Budget 2017 there was good news for entrepreneurs and start-up businesses as the capital gains tax relief rate for entrepreneurs was reduced from 20pc to 10pc. The new 10pc rate will bring Ireland closer in line with competitive CGT rates on the sale of a business in the UK. The ...

An Employer’s Guide To Benefit In Kind

September 27, 2016 Tax Advice 0 Comment

Benefits in kind are benefits which employees or directors receive from their employment but which are not included in their salary. They are sometimes called ‘perks’ or ‘fringe benefits’. They include things like company cars, private medical insurance paid for by the employer and low interest loans. Where benefits in kind are taxable, tax ...

Paternity Relief Update 2016

August 13, 2016 Tax Advice 0 Comment

Before 2016, employers were not obliged to grant male employees paternity leave (either paid or unpaid) following the birth of their child. The Paternity Leave and Benefit Act 2016 introduced statutory paternity relief leave of 2 weeks together with a new Paternity Benefit. New fathers can start the combined package of Paternity Leave and ...