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 income tax payable on the business profits. It does not extend to PRSI and USC so you will be liable to pay these taxes on any profits earned. The scheme runs from 25 October 2013 to 31 December 2018. See link below to Revenue website for further details

Start Your Own Business Scheme

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Joe Cunnane Practice Owner TRA Professional Services       Qualifications:  FCA Chartered Accountant & AITI Chartered Tax Advisor Joe has over 20 years experience working in both private practice and industry ... Read More »