Paying Tax on Rental Income
Colin Keane
Income from renting out a property, or from another source that qualifies as rental income, is taxable. There are several requirements that landlords should be aware of. Landlords are obliged to register with the Residential Tenancy Board and submit income tax returns. You must declare rental income to Revenue under …
Tax Update Management Consultancy Companies
Conor Gallagher
Recent Change in Tax Legislation Due to a recent change and update in tax legislation, Management Consultants should no longer be affected by an additional surcharge on any undistributed income from their Limited companies. Current tax rules provide for an additional charge of corporation tax …
The Small Business Assistance Scheme Extends Eligibility
The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar has extended eligibility for the €60m Small Business Assistance Scheme for COVID (SBASC) to include businesses operating from non-rateable premise like a home business or yard. The Tánaiste is also relaunching the Micro Enterprise Assistance Scheme so that …
Explaining the Research & Development Tax Credit
What is the Research and Development Tax Credit? The R&D Tax Credit is a valuable incentive to encourage research and development in Ireland. Businesses performing R&D can benefit from a refund of 25% on qualified expenditure. The R&D Tax Credit is open to all companies …
Help to Buy Incentive
The Help to Buy (HTB) incentive is a scheme for first-time property buyers. It will help you with the deposit you need to buy or build a new house or apartment. You must buy or build the property to live in as your home. The …
Benefit in Kind Exemptions on Use of Company Vehicles
There are two scenarios where Benefit in Kind (BIK), may not be triggered for employees when using company cars. Car Pools If your employee uses a company car in a car-pool, they do not have to pay PAYE, PRSI and USC on this benefit. A car-pool exists …
Summary of Tax Treatment of RSUs
Restricted Stock Units We are seeing more and more employees getting offered RSUs as part of their Salary Package and many are unsure of the tax consequences. In the majority of cases there will be both an Income Tax liability and a CGT liability. What …
The Benefits of Outsourcing Your Finance Function
In most cases business owners do not go into business to be a trained finance professional, overseeing the books. Outsourcing your finance function provides business owners with more time to focus on other areas of the business, such as growing the business and company strategy. …
Irish VAT due to Increase to 23%
The Standard Rate of Irish VAT is due to increase to 23% with effect from March 1st 2021. The rate had been reduced to 21% for a six month period from 1 September 2020 to 28 February 2021. The Minister for Finance has recently indicated …
2020 Personal Tax Return Checklist
Period 1 January 2020 to 31 December 2020. We have created a tax checklist to help you with your personal tax returns. Tax Returns and Tax Payments due for submission on or before 31 October 2021. Click below to avail of this Personal Tax Return …
