Thinking of giving up your day job and running your own business? Then you should be aware of the PRSI differences in terms of both rates and entitlements when you move from employment to self-employment.
In general, most companies are required to attach audited accounts to their annual returns under the terms of the Companies Amendment Act, 1986. However, an exemption from audit is available for small companies. This can reduce the administrative burden as well as professional fees.
In general, when a business purchases machinery or equipment, it can claim the cost against taxable profits over 8 years as a capital (wear and tear) allowance. However, where the machinery or equipment is energy efficient, the full cost can be claimed in year 1.
JobsPlus is an incentive that rewards employers with regular payments for recruiting people who have been out of work for 12 months or more. How much do employers receive for …
The Small Benefits Exemption Scheme allows an employer to provide an employee with a small benefit tax free each year. It is frequently paid at Christmas so is sometimes known as the Christmas bonus scheme. It is a straightforward scheme but there are some terms and conditions:
The scheme provides relief from Income tax for long term unemployed people who started a business from the 25th October 2013 to the 31st December 2018. Who can avail of …
Under the TaxSaver Commuter Ticket Scheme, employers can provide tickets to employees as part of their salary package or in lieu of an annual bonus. Employees effectively get the tickets tax free.
The Cycle to Work Scheme was introduced to encourage employees to cycle to work. It offers a tax incentive to employees and employers whereby the employer purchases bicycles and equipment for employees without it constituting a benefit in kind. Employers and employees can also agree a salary sacrifice to cover the cost of the bicycle and equipment.