The following changes to PRSI rates come into effect from 1st October 2024. The Class A employee rate of 4% will increase by 0.1% to 4.1%. The Class A employer rates of 8.8% and 11.05% will increase by 0.1% to 8.9% and 11.15% respectively. The...
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Taxes Consolidation Act 1997 has introduced a new relief which is available to residential landlords. This relief allows landlords to take a deduction for expenses relating to the retrofitting of residential premises when calculating rental profits between 1st January 2023 and 31st December 2025. You...
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1 May 2024 (i.e., next Wednesday) is the deadline for two separate important matters: Revenue Debt Warehousing 1 May is the deadline for entering into “meaningful engagement” with Revenue as regards the warehousing of Revenue liabilities. Please refer to earlier circulars from PSC. Increased Cost of...
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Changes to Debt Warehousing Arrangements There have been significant changes made to the Revenue Debt Warehousing arrangements during February 2024. Firstly, the interest rate which will now apply during the so-called “Period 3” has been reduced to 0%. (A 3% rate was due to be applied). Secondly, Revenue...
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Employer Reporting of Benefits: Enhanced Reporting Requirements (ERR) Recent tax legislation has introduced a requirement for employers to notify Revenue of certain payments made to employees known as ‘reportable benefits’. The expected implementation date is 1 January 2024. Which Benefits are Required to Be Reported? Currently only the...
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