**Tuesdays Tip – Joint Assessment** For married couples or civil partners, joint assessment is normally the favoured form of tax assessment. Generally, a couple will pay less tax when they are jointly assessed compared to being assessed as a single person. Through being jointly assessed you can allocate tax credits or tax bands to suit…

The Start Your Own Business scheme provides for relief from Income Tax for long term unemployed individuals who start a new business. The scheme will provide an exemption from Income Tax up to a maximum of €40,000 per annum for a period of two years to individuals who set up a qualifying business; having been…

Following on from the increased activity in the construction sector in recent times we have seen a rise in requests for advice on and assistance with the operation of Relevant Contracts Tax (RCT) within their business. The Relevant Contracts Tax system has been totally overhauled since 1st Jan 2012. Gone are the paper RCTDC forms…

It is important to take control of your retirement planning. This is even more significant when your retirement comes at an early age. Finance Act 2002, by enacting Section 480A of the Taxes Consolidation Act, 1997 (TCA), introduced a tax relief for certain classes of sportspersons on their retirement. This tax relief recognises the relatively…

Did you know that as well as our standard payroll service we can also offer an Executive Payroll service? Executive Payroll Services allow the key financial and personal data of your executive team to be maintained privately and confidentially. Click here to read more about our Executive Payroll Services  If you sign up to our…

Have you paid your Local Property Tax for 2017? On 06 January 2017, Revenue published the latest Local Property Tax (LPT) statistics for 2016, detailing LPT Exchequer receipts of €463m and showing a continuing high compliance rate. Local Property Tax collected in 2016 included approximately €50m in prepayments for 2017, and €70m in payments for…

From 1 January 2017 the National Minimum Wage will increase to €9.25 per hour. The changes in National Minimum Wage are represented in the table below.   For the purposes of the Act, the following payments are regarded as wages: normal basic pay, as well as any overtime shift allowances or other similar payments any…

Special Assignment Relief Programme (SARP) The new Special Assignment Relief Programme (SARP) was introduced in 2012 to assist Irish companies and multinational companies in attracting key talent to Ireland. The relief was initially introduced for tax years 2012, 2013 and 2014. In the Finance Act 2014 under Section 15 the relief was extended to include…

Income taxes fall for high earners by 9 percentage points – faster than European average GDP growth outperforms global average over last 30 years Ireland’s high net worths are among those who have benefitted the most from global reductions in income taxes over the past two decades, according to a new study by UHY, the…

  Reward your employees with up to €500 tax free under the “Small Benefit Exemption Scheme” Are you looking to reward your employees with a bonus this Christmas? Did you know under the existing Benefit-in-Kind arrangement, an employer can provide an employee with a single “non-cash” benefit up to €500 without it being subject to…