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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This new tax credit was introduced in the recent Finance Act 2022. It applies from 2022 and it is now possible to claim relief for 2022 by submitting your income tax return. The maximum value of the tax credit is €1,000 for a jointly assessed couple...
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If any type of share awards have been given by a company to employees in any year, it is now mandatory to report this to Revenue before 31 March in the following year. Therefore, if you have given any kind of share awards to employees...
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Guidelines on the Temporary Business Energy Support Scheme (TBESS) have been updated. Registrations under the scheme are now open. Following registration, businesses will be able to submit claims under the scheme from 5 December. The TBESS guidelines will be updated shortly to provide further guidance...
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The Payment of Wages (Amendment) (Tips and Gratuities) Act 2022 is due to come into effect on the 1st of December 2022. There will be 4-week period between now and the 1st December that will allow for employers to prepare for the required changes under...
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Revenue have this week issued Guidance Notes on the above. Many of the terms & conditions of this scheme were already outlined by us to you on our Finance Bill circular earlier this month. A link to the very comprehensive Guidance Notes is here Some of the...
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The Finance Bill 2022 was published yesterday. It will now progress through the Oireachtas and will be subject to potential amendments throughout this process. It is anticipated that it will become law in late December 2022. The Finance Bill gives effect to many of the Budget...
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Travel & Subsistence rates revised from 1 September 2022, see link: https://www.revenue.ie/en/employing-people/employee-expenses/travel-and-subsistence/civil-service-rates.aspx This area is very topical area with Revenue, therefore if you have any questions or concerns, please let a member of the team know and they can assist you. Revenue Compliance Revenue have been very accommodating during...
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Sales to UK B2B B2C Goods (Note 1) Export No Irish VAT Proof of export needed No UK VAT reg Export No Irish VAT Proof of export UK VAT reg may be necessary (Note 3) VAT 3 No T1 (0%) entry No PA1 entry No T1 (0%) entry No PA1entry RTD As normal (Note 4) As normal (Note 4) Intrastat & VIES N/A N/A Sales to UK B2B B2C Services (Note...
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The EWSS was a valuable wage subsidy support scheme which eligible employers utilised during the pandemic. During the life of the scheme an employer confirmed their eligibility on a self-declaration basis and provided information to Revenue via an Eligibility Review Form (ERF). Only some of...
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