When is there no BIK on a Company Car?
Amanda Souza
Understanding when Benefit-in-Kind (BIK) tax does not apply can help optimiSe the use of company-provided vehicles and potentially save on taxes. This article explores scenarios where BIK is not applicable, including the use of car-pools and electric vehicles, and outlines the specific conditions and exemptions …
What Expenses Can you Deduct as a Sole Trader?
When calculating the profit for your business, you may be able to claim a deduction for expenses incurred. Expenses are claimed through the Revenue Online Service (ROS) on Form 11. …
Revenue’s Business Division Level 1 Compliance Project
Revenue has announced the launch of a Level 1 bulk compliance project targeting two specific taxpayer cohorts based on their 2022 income tax returns. In the coming weeks, affected taxpayers will receive letters asking them to review and amend their returns if necessary. …
Your Complete Guide to Irish VAT Rates for Easier Returns
Navigating the world of Value Added Tax (VAT) is a fundamental aspect of business operations worldwide. While the concept of VAT seems straightforward - adding tax to goods and services - the reality is often more complex. Businesses face challenges in determining the correct VAT …
When is your Tax Clearance Certificate Withdrawn ?
A Tax Clearance Certificate is confirmation from Revenue that your tax affairs are in order. This section outlines the different circumstances where you will need a Tax Clearance Certificate. …
How to Know if You Are a Resident for Tax Purposes
Understanding your tax residency status in Ireland is crucial for ensuring compliance with tax obligations and optimizing your financial planning. At Gallagher Keane, we want to simplify this process for you. Here’s a comprehensive guide on determining your tax residency status in Ireland. …
How do I Prepare for a Revenue Compliance Check or Audit?
In recent months, an increasing number of businesses have found themselves on the receiving end of random compliance check letters from Revenue. But what exactly is a Revenue audit or compliance check, and how can you prepare for it effectively? …
What Information do I Need to Provide to the Bank When Applying for a Business Loan?
When it comes to applying for a business loan, thorough preparation is key to success. To ensure a smooth and successful loan application process, you need to provide the bank with comprehensive information about your company and its financials. …
Challenges of Running an Owner – Managed Business
As a business owner, you're no stranger to the juggling act of managing work commitments alongside personal responsibilities and aspirations. Between the demands of running your business and attending to your personal life, finding time to strategise for long-term success can feel like an uphill …
10 Benefits of Accounting Automation for Your Business
In the past year, businesses worldwide have increasingly focused on cost-cutting measures, targeting inefficiencies across their business. Yet, amid this drive for optimisation, many overlook an obvious solution: accounting automation. Exploring the realm of automated accounting reveals a range of benefits to your business. …
