Business Continuity Plan for Staff & Clients

Following the Government’s Level 5 announcement which came into effect from midnight Wed 21st Oct we have re-activated our ‘Business Continuity Plan for Staff & Clients’. This will involve the closing of our Stephen Street offices to the public and the moving of on-site meetings to an online format where possible with a view to […]

Four Week Extension for Income Tax and CAT Deadlines

In recognition of the challenges being experienced by businesses and tax practitioners arising from the COVID-19 crisis, Revenue have announced a four week further extension to the Pay & File deadline for self-assessment income tax customers and for customers liable to Capital Acquisitions Tax (CAT).

July Job Stimulus – Enhanced Help to Buy Scheme

The Help to Buy (“HTB”) scheme is an incentive for first-time property buyers to assist with the deposit required to buy or build a new house or apartment to live in as the buyer’s home.  The incentive provides for a refund of Irish Income Tax and Deposit Interest Retention Tax (“DIRT”) the buyer has paid over the previous four […]

July Job Stimulus – Debt Warehousing

The Government has legislated to allow for (i) VAT and PAYE (Employer) liabilities incurred during the period of restricted trading caused by COVID-19 to be deferred or “warehoused” for a period of 12 months after a business resumes trading and for (ii) the application of a lower interest rate of 3% per annum on the […]

July Job Stimulus – Temporary Income Tax Relief

The July Stimulus Plan (and subsequently the Financial Provisions (Covid-19) (No. 2) Act 2020) provides for a number of temporary income tax measures to assist self-employed individuals who have been adversely impacted by the Covid-19 restrictions.  These income tax measures include: Self-employed can make an interim claim for 2020 losses and unused capital allowances against […]

July Job Stimulus – Temporary Acceleration of Corporation Tax Loss Relief

The Financial Provisions (Covid-19) (No. 2) Act 2020 provided for a temporary acceleration of corporation tax loss relief for accounting periods affected by the Covid-19 pandemic and related restrictions.  The purpose of the relief is to provide cash-flow support to previously profitable companies who have become loss-making during the period impacted by Covid-19 and the associated […]

July Job Stimulus – Employment Wage Subsidy Scheme

EWSS is an economy-wide enterprise support that focuses primarily on business eligibility.  The scheme provides a flat-rate subsidy to qualifying employers in businesses negatively impacted by COVID-19 based on the numbers of eligible employees on the employer’s payroll.  The EWSS will replace the Temporary Wage Subsidy Scheme (TWSS) from 1 September 2020 and is expected to continue until […]

July Job Stimulus – Temporary Change in the Standard VAT Rate

As part of the July Stimulus Plan, the Irish government announced the temporary reduction in the standard rate of VAT from 23% to 21% with effect from 1 September 2020.  It is intended that this temporary rate reduction will be in place for a period of 6 months to 28 February 2021.  This rate change […]

July Job Stimulus – Overview of Tax Measures

On 23 July 2020, the Irish government announced the July Jobs Stimulus Plan, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence.  This Plan is the next stage in Ireland’s response to the COVID-19 crisis. The following key tax measures were included within the Stimulus Plan: Reduction in the standard VAT rateThe standard rate […]