Budget 2019

Budget 2019

This was certainly a Budget where spending took priority and where the spending was practically already disclosed. Housing was a major recipient of spending plans: €2.3bn allocated to the housing programme for 2019 €93m for Local Authority house funding for 2019 €1.25bn allocated for the delivery of 10,000 new social homes in 2019 €123m for the Housing […]

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BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY

BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY         The Minister has tried to appease all by giving a small amount to all by means of some tax cuts/benefits and some welfare increases. TAXATION In Taxation the benefits are spread over Income Tax (“IT”), Capital Gains Tax (“CGT”), Capital Acquisitions Tax (“CAT”) […]

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Research & Development Credit Update

The R&D tax credit scheme is a vital source of finance for developing Irish SMEs. The higher volume of Revenue Audits in this area has led to an increased level of uncertainly in recent years. For businesses relying on the credit as a source of funding, any uncertainly is significant. The recently published Revenue guidelines […]

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Revenue Letter On Amendments To Returns

Taxpayers have in the past two weeks been receiving these letters and articles have appeared in the print media on the matter. These letters are generic letters and have no relevance for most taxpayers. It is a shotgun approach to notifying taxpayers that from 1st May 2017 the rules on qualifying disclosures to the Revenue […]

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Tax Deduction for the Non Principal Private Residence Charge

This was an annual charge from 2009 to 2013 in respect of residential property that was not the owner’s principal private residence. The Revenue indicated at the outset that the charge was not deductible in calculating the net profit rent on a let property as the charge was not one of the authorised deductions under […]

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Timely Update to Ireland’s International Tax Strategy

October 2016 In the competitive Foreign Direct Investment (FDI) world and in a post BREXIT and post Apple judgement environment, it is timely that Ireland has issued this International Tax Strategy Update – see link http://www.budget.gov.ie/Budgets/2016/Documents/Update_on_Irelands_International_Tax_Strategy_pub.pdf As mentioned by the Minister in his Budget speech, Ireland’s commitment to maintain the 12.5% corporation tax rate is […]

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Budget 2017: The Key Points

This was a Budget that probably needed no introduction with the amount of details disclosed in the Media in the past few weeks. Budget 2017 had a little bit of this and a little bit of that to try to keep all happy. Property Supports Operative from 19th July 2016, first time buyers are to […]

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10% CGT Rate announced in Budget 2017

From 1 January 2016, the rate of CGT applying to a disposal by an individual of the whole or part of a qualifying business (which can include shares – minimum 5% ownership) was reduced to 20% from 33%. This rate will be further reduced to 10% following the announcement made by the Minister for Finance […]

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Brexit and the Implications for Ireland

On June 23rd the United Kingdom (“UK”) voted to leave the European Union (“EU”). The UK is one of Ireland’s key trading partners and Brexit will have major implications for businesses and individuals alike. It is crucial that everyone is aware of the potential short and long term consequences as a result of the UK’s […]

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New Tax Appeals Regime

A new tax appeals regime came into operation on 21 March 2016 with the establishment of a new tax appeals body the Tax Appeals Commission (TAC). A key change to the process is that appeals are now to be made directly to the TAC and not to Revenue. The time limit for making an appeal […]

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