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 […]

Brian Lally RIP

It is with deep sadness that we learned of the sudden death last night of our friend and former colleague Brian Lally. Qualifying as an ACA in 2017, Brian was a popular and valued staff member in Gilroy Gannon from 2015 to 2019 He was an inspiration to staff and trainees during his time here […]

Budget 2021 Detailed Analysis

Presented below is our detailed analysis of Paschal Donohoe’s fourth and most critical budget as Minister of Finance. If you have any specific questions, please don’t hesitate to contact us in Stephen Street, Sligo or email us at info@gilroygannon.com

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 […]