- BUDGET IRELAND 2025 – Business Taxes October 1, 2024 - The Minister for Finance Jack Chambers published his first Budget today announcing a number of changes to our corporate tax regime. A raft of tax measures and policies will be introduced to support Irish start-ups, small and medium-sized enterprises (SMEs) and multinational businesses. Budget 2025 provided for a total budget package of €10.5b Our […]
- BUDGET IRELAND 2025 – Taxes in relation to Property October 1, 2024 - Understand the Tax measures of Budget 2025 which relate to property transactions, at a glance. Today, the Minister for Finance and the Minister for Public Expenditure, NDP Delivery and Reform, announced the details of Budget 2025. As anticipated, Budget 2025 introduced several tax measures in relation to property. […]
- 2025 Budget – Ireland – Personal Tax October 1, 2024 - Understand the Income Tax measures of Budget 2025 at a glance. Today, the Minister for Finance, Jack Chambers T.D., and the Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe T.D., announced the details Budget 2025. As anticipated, Budget 2025 introduced several tax measures affecting individuals, families and households. This article […]
- UK TAX – 31st January 2025 Self-Assessment Tax Return Deadline September 15, 2024 - In the United Kingdom, the tax year commences on 6th April and ends on the following 5th April. HMRC have published a set of criteria which outlines the taxpayer’s requirements in order to accurately and correctly complete a self-assessment tax return. For further information please click link: https://www.gov.uk/log-in-file-self-assessment-tax-return You are required […]
- FORM 11 TAX RETURN PREPARATION – IRELAND September 1, 2024 - The Income Tax Return filing deadline is 31st October 2024. That deadline date is extended to 14th November 2024 provided you file both (a) your Income Tax Return and (b) your Income Tax Balance due for 2023 plus your 2024 Preliminary Tax. When preparing your 2023 Income Tax Return, here are […]
- Income Tax Return Deadline 2024 – Ireland August 31, 2024 - As you’re aware, the Income Tax / self-assessment Tax Return filing deadline is 31st October 2024. There is an extension to 14th November 2024 providing you file both (i) your 2023 Income Tax Return and (ii) the Income Tax Balance due for 2023 as well as your 2024 Preliminary Tax payments though ROS. […]
- Changes to Company Size Criteria and Abridgement Exemptions June 19, 2024 - Introduction Today the Minister for Enterprise, Trade and Employment, Peter Burke TD, signed into law the “European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024.” This resulted in increases in the balance sheet and turnover thresholds for ‘micro’, ‘small’, ‘medium’ and ‘large’ companies in the Companies Act 2014 by […]
- Employee or Self Employed – New Irish Revenue Guidance May 21, 2024 - As Accountants, Personal Tax Advisors and Payroll Tax Consultants, the distinction between what constitutes an employee and what are the requirements to be considered a self employed contractor has occupied our minds for many years. It is often very difficult to determine with complete accuracy whether an individual has been employed under a contract […]
- Increased Cost of Business Grant Scheme – Ireland May 15, 2024 - As part of Budget 2024, the government signed off on a package of €257 million for the Increased Cost of Business Grant Scheme. The main aim of this Grant is to support small and medium sized businesses by contributing towards their rising business related costs including energy, labour, rent, etc. In order to […]
- UK Taxes – Furnished Holiday Lettings tax regime abolished from 6th April 2025 March 6, 2024 - The Chancellor of the Exchequer, Jeremy Hunt delivered his UK Spring Budget 2024 today. As you are aware, the Furnished Holiday Letting (FHL) regime provides tax relief for property owners letting out furnished properties as short term holiday accommodations. From 6th April 2025, however, the Chancellor is removing this tax incentive […]
- CAT loans from Close Relatives – Mandatory Tax Filing January 1, 2024 - Introduction With effect from today, Capital Acquisitions Tax (CAT) rules have changed. A new mandatory Capital Acquisitions Tax filing obligation is imposed on a person in receipt of a gift in respect of certain loans from close relatives. An interest-free loan is a gift on which Capital Acquisitions Tax must be calculated and any […]
- Taxes on Corporate Income – Pillar Two – Ireland December 31, 2023 - Briefly, the Pillar Two rules include an Income Inclusion Rule and an Undertaxed Profits Rule . The Pillar Two rules provide that the income of large corporate groups is taxed at a minimum effective rate of 15% in all the jurisdictions in which they operate. The Pillar Two rules will have no effect for […]
- New Angel Investor Relief – Capital Gains Tax Relief December 18, 2023 - Finance (No. 2) Act 2023 introduced a new Capital Gains Tax relief – “Relief for Investment in Innovative Enterprises” or Angel Investor Relief. Its objective is to encourage investment in innovative small and medium start-up businesses entities. Please be aware, however, that not all types of angel investments qualify for the new relief. […]
- Share Option Changes – 2024 – Ireland November 1, 2023 - From 1st January 2024 employers will be required to report, collect and remit Income Tax, USC and PRSI, under the PAYE system, on any gains arising on the exercise, assignment or release of unapproved share options by employees and/or directors. From 1st January 2024, the tax collection method for share option gains will […]
- BUDGET 2024 – IRELAND October 10, 2023 - Today, 10th October 2023, the Minister for Finance, Michael McGrath and Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe presented the 2024 Budget. This article will summarise the main points under Personal Tax, Business Tax, VAT, Capital Gains Tax, Property Taxes, etc. Budget 2024 tax measures feature a range of […]
- Annual Return for Companies – Ireland June 15, 2023 - Introduction Filing an annual return is a legal obligation for every company registered in Ireland. This is a requirement even if the company hasn’t generated a profit or hasn’t started trading. There is an obligation on the company officers, being the Directors and Secretaries, to ensure that the annual return is correctly […]
- CRO mandatory requirement for company directors to provide PPSNs May 15, 2023 - The CRO mandatory requirements will mean every registered director must have an identifying number (i.e. PPS number, RBO number or VIN) associated with them on the Companies Registration Office’s system when making certain filings. The Companies Registration Office (CRO), under Section 35 of The Companies Corporate Enforcement Act (2021), will require Company Directors to […]
- HMRC late payment interest rates increase May 11, 2023 - Today, HMRC announced an increase in its interest rates, due to another increase in the Bank of England base rate, from 4.25% to 4.5%. The new rates will take effect from Monday, 22nd May 2023, for quarterly instalment payments. The new rates will take effect from Wednesday, 31st May 2023, for […]
- ROS Pay & File Extension Date – 2023 April 5, 2023 - Today, the Revenue Commissioners announced that the extended ROS Pay & File deadline date for self assessed Income taxpayers is 15th November 2023. This extension is only available to individuals who both pay file their Income Tax Return and make the relevant tax payment through ROS. This extended deadline applies to: […]
- UK Tax – Deadline extension for voluntary National Insurance contributions March 7, 2023 - In 2016 the ‘New State Pension’ was introduced. As part of transitional arrangements to the new State Pension, taxpayers have been able to make voluntary contributions in relation to any incomplete years in their National Insurance record between April 2006 and April 2016. Anyone who is retiring on or after 6th April […]
