The relief allows an exemption from Corporation Tax for the first three years of trading provided certain conditions are met. The company must be carrying out a qualifying trade. The value of the relief is based on the Employers PRSI paid by the company up to a maximum of €5,000 per employee and an overall maximum of €40,000. […]
Before you finalise the design of your company stationery and forms, you should ensure that they comply with the Companies Acts 1963 to 2009 and the Tax Acts. […]
Intrastat is the system for collecting statistics on the movement of goods (not services) between EU member states. The information is used by various government departments, economists and financial institutions. There are two separate Intrastat requirements. All VAT-registered traders must include details of goods to/from EU on the VAT3 return. Larger traders must complete a more detailed monthly return. […]
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, 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.
Once you have formed your company with the Companies Registration Office, you will need to separately register your company for taxes. Form TR2 can be used to register for a number of taxes, including Corporation Tax, VAT and Employers PAYE…
A business can reimburse its employees and directors for certain motor and travel expenses without the deduction of tax provided certain conditions are met…
Every Irish company is obliged to make an annual return to the Companies Registration Office (CRO). This annual return comprises Form B1, to which must be attached a set of financial statements (accounts)…
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 Employment (Miscellaneous Provisions) Act 2018 comes into force in just three weeks, on 4 March 2019. Prohibiting the use of Zero Hour contracts and upping employer obligations, the bill is intended to improve security for those workers with variable hours.