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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There have been a number of different property taxes introduced in the recent past. These are aimed at increasing housing supply. Some of these main taxes are as follows: Vacant Homes Tax Applies to residential properties which are in use as a dwelling for less...
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It is important to note that the VAT rate on certain tourist/hospitality related services increased to 13½%, with effect from 1 September 2023. These services include: catering and restaurant supplies (excluding alcohol, soft drinks and bottled water) hot take-away food, and hot tea and coffee hotel...
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The notes below should be read in conjunction with our earlier circular from May 2023. The “Non-Resident Landlord Withholding Tax” (NLWT) system is now “live”. Detailed Revenue guidance notes are available here. The NLWT platform can be accessed by selecting “Manage non-resident landlord withholding tax” from...
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Non-resident landlords Changes from 1 July 2023 Finance Act 2022 introduced changes to the obligations of tenants and collection agents of non-resident landlords. These changes are pending the introduction of a new Non-resident Landlord Withholding tax platform (“NLWT”). This will be accessible through Revenue Online Service (ROS) and...
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A number of enhancements have been made to the Temporary Business Energy Support Scheme in recent weeks. The enhancements are as follows: the extension of the scheme to 31 May 2023 an increase in the monthly limit on payments for claim periods from 1 March 2023 onwards: the...
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The Government announced last week that a temporary measure of relief would be given to reduce the BIK cost of company cars and vans in 2023. This temporary relief is as follows: There is a temporary reduction of €10,000 in calculating original market value, for...
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As part of the Government’s “Cost of Living package” published on 21 February 2023, it has been announced that the 9% VAT rate will be extended until 31 August 2023. It was to have been increased back to 13.5% with effect from 1 March 2023. ...
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Significant changes will apply to the BIK rules for company cars and vans with effect from 1 January 2023. Company Cars Finance Act 2019 provided for significant changes to BIK on cars, with effect from 2023. From 2023, the BIK % will be based on CO2...
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This bulletin covers two topical issues, which arise following the publication of the Finance Bill 2022. Small Benefit Exemption The recent Finance Bill introduces some welcome improvements to the “small benefit exemption” that an employer can pay to its employees annually. The annual limit has been increased to...
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