Finance Act 2020 sets into law many of the tax provisions announced on Budget Day, 13 October 2020. The measures it contains include provisions to provide support to businesses as they face unprecedented challenges including COVID-19. This document is aimed to provide you with an updated...
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Update January 2021 From 1 January 2021, a new VAT regime has brought significant changes which affect how Irish businesses trade with NI and Great Britain (GB). We have outlined below the VAT implications for: Irish businesses trading goods with Northern Ireland (NI) Irish businesses trading goods...
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The Government are set to introduce a scheme to accelerate a claim for capital allowances on the purchase of certain farm safety equipment subject to an annual total equipment cost of €5 million (excluding VAT) per annum. The proposed scheme is subject to a Ministerial...
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The Finance Act 2020, as passed by the Dáil in late December 2020, contains a late amendment to the turnover test for the Employment Wage Subsidy Scheme (EWSS). The Bill amends Covid legislation to provide that from 1 January 2021, an employer must demonstrate that their business...
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Revenue have issued a number of updates to their guidance notes on CRSS, with their most recent update being on 31 December 2020. The more important points are summarised below. 1. Time limit to claim A taxpayer has a time limit of 8 weeks only to claim...
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Some steps that will help you be prepared for BREXIT Importers Talk to your suppliers – are they BREXIT ready? Have they established a place in Ireland? Are they covering the transport and clearance documents for you? If so, they need an agent in Ireland ...
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Employers Paying Employees 2020 Tax Liability Revenue have issued a very useful concession, to cover situations where an employer wishes to pay the Income Tax/USC liabilities of their employees, which arise due to the TWSS. In summary, Revenue will accept a payment of the underlying tax...
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Time is running out for businesses to prepare for the eventuality of Brexit. Regardless of the outcome of the current trading negotiations, Brexit will impact in a major way on many business decisions. It is important to remember that, as matters currently stand: only Ireland ⇿...
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The New Rules From 1 January 2021, a new VAT regime will exist in Northern Ireland (NI) and this will affect how Irish businesses trade with NI and Great Britain (GB). This is regardless of whether the UK and EU reach agreement on a trade deal...
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VAT on importation will become payable on the value of goods being brought into the UK from EU Member States (and vice versa) by both business customers and consumers. The value for VAT purposes includes the cost of the goods, the related freight and insurance...
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