Supports for Businesses Affected by COVID-19
It has been a difficult and anxious few days for business owners, the self-employed and employees. We have summarised below some supports that have been introduced to assist those affected …
Tax Relief on Health Expenses
Tax relief can be claimed on health expenses that you have paid for. This covers your own expenses, a family member’s, or indeed any individual’s, provided that you have paid …
Local Enterprise Week – March 2nd to March 6th 2020
Local Enterprise Week will run from Monday March 2nd to Friday March 6th. Seminars, classes and workshops will be held in Local Enterprise Offices across the country with the aim …
Business Checklist for Brexit
As the UK’s departure from the EU enters its transition phase, the Irish government has released a Brexit Preparedness Checklist. The checklist will help firms continue to trade smoothly with …
Revenue Update: Tax Clearance for Grants
Revenue have made an update to the Tax and Duty Manual. Paragraph 21 now notes that where tax clearance is required for a grant, an application must be submitted each …
Fact Sheet: Return of Trading Details (RTD)
A Return of Trading Details (RTD) is a statistical return that summarises sales and purchase figures and their associated VAT. It’s a return that every VAT-registered person must file after …
2% USC Threshold Increasing from €19,874 to €20,484
The 2% rate of USC is rising from €19,874 to €20,484 in line with the minimum wage rate increasing by 30c to €10.10 on February 1st 2020 . To account …
P60 Replaced by EDS
Employees no longer receive a P60 at the end of the year from their employer. The P60 was abolished at the beginning of 2019 as part of PAYE Modernisation. From …
Class A Employer PRSI and Minimum Wage Changing – 1st February 2020
From 1 February 2020, the weekly income threshold for the higher Class A Employer PRSI increases from €386 to €395. For January 2020 the €386 threshold for the higher Class …
How to avoid a costly Statutory Audit
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.