This week’s tax news

tax newsWe round up this week’s latest tax news below

Bus, Rail and Ferry passes

The Tax and Duty manual on the conditions relating to salary sacrifice arrangements has been amended. These amendments clarify that an employee may enter into a “salary sacrifice” arrangement in respect of bus, rail and ferry passes more than once in a year where the conditions of the scheme are otherwise met.

Order of offset of income tax reliefs, allowances and deductions

Revenue has received a number of claims for repayment of tax, for individuals who are affected by the High Income Earners Restriction, based on a misunderstanding of the order of offset of reliefs for individuals. Revenue has also identified a number of taxpayers who did not complete the Form RR1, based on the same misunderstanding.

Revenue have issued a tax and duty manual in order to assist staff when dealing with these cases, you can find that here

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This briefing is provided for general information purposes only and is not a comprehensive or complete statement of the issues it relates to. It should not be used as a substitute for advice on individual cases. Before acting or refraining from acting in particular circumstances, specialist advice should be obtained. No liability can be accepted by TRA Professional Services for any loss occasioned to any person acting or refraining from acting as a result of any material in this briefing.

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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 »