What are tax credits? In Ireland, tax credits can be deducted from your tax bill. If you are paid a salary in Ireland, everyone receives Personal tax credits. Depending on your circumstances you may be entitled to other tax credits, like Employee tax credits, Earned Income tax credits and so on. Here is a list …
PAYE Modernisation was started as the new online payroll system in Ireland in January 2019. Employees including directors will no longer receive forms like P60s or P45s. Payroll will now be completed online and there is a filing every payday, allowing employees to see pay and tax in real-time on Revenue’s website through the employee’s …
The Irish Payroll System and PAYE Online Modernisation Read More »
What is Rent a Room Relief? Rent a Room Relief allows householders to rent a room or rooms in their property free of income tax, PRSI or USC up to a maximum of €14,000 per year. This amount includes any payments made to the householders for electricity etc. Do I have to live at the …
There are new tax benefits available to companies for spending on research and development. The tax treatment in Ireland has changed recently to encourage such spending. We have set out below the tax implications of the old system and the new system. Old system The old system applied to accounting periods commencing on or before …
Research and Development Tax Credit Guidelines in Ireland (2020) Read More »
To register a limited company for tax you must have a Companies Registration Office (CRO) number issued by the CRO. You will also need an Irish bank account so that the Irish Revenue can process repayments and you can make payments of tax as and when you need to. The requirement to get a bank …
Registering for self-employed taxes in Ireland (Including VAT) Read More »
There is a totally separate tax system for companies when compared to sole traders. Ireland follows the same system as the UK. The tax that is chargeable on company profits is called Corporation Tax and is charged at 12.5% on the profits of the company. The same rules for Income Tax for sole traders …
In this article, we will cover the following topics How Benefit-in-Kind works in Ireland for company cars. What is Original Market Value and why it is important. Annual Business Mileage What if the company car is not available for the full year Difference between the U.K and Ireland In the UK there is a Benefit …
Company Cars and Benefit-In-Kind in Ireland (2020) Read More »
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