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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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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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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Minister for Finance, Michael Noonan, T.D. and Minister for Public Expenditure & Reform, Paschal Donohoe, T.D. today delivered their Budget speeches, in which they have laid out a number of measures aimed at “repairing the damage done to our economy in the past and to...
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