Revenue collect all the tax they know is owed, but they also look at businesses and individuals to make sure they do not owe more tax because they are under declaring their income. Investigations are very profitable for the government, so they are not likely to stop them at any time in the future. In […]
Tag Archives: Tax
As Christmas approaches, you may be looking for a way to show your employees your appreciation of their hard work during the year. Of course, cash bonuses would be welcome by most, but by the time taxes including PAYE, USC, and PRSI are deducted, the net sum will be significantly reduced. However, there’s […]
What is Benefit in Kind? A Benefit in Kind (BIK) is a benefit that an employee receives that cannot be converted into cash but has a cash value. Examples include the provision of a company car, loans given at a special rate or provision of accommodation. Benefits (other than benefits-in-kind) would include vouchers, holidays, payment […]
There has been a large increase in the amount of scams from sources purporting to be the Revenue Commissioners. Individuals should always view any such unsolicited contact with a high degree of caution. It is not Revenue policy to request your financial details by any of these methods. Here a few safety tips to follow: […]
Pre-letting expenditure for vacant residential premises Section 97A Finance Act 2017 introduces authorisation to use expenses that are incurred on a vacant residential premises, in the 12 months before it being first let after a period of non-occupancy, as a deduction against rental income from that premises. The premises must have been vacant for at […]
With the introduction of the Sugar Sweetened Dinks Tax (SSDT), which is to take effect from 6 April 2018, some wholesale businesses, suppliers will be required to make the necessary arrangements in order to be compliant. SSDT will apply on the first supply of Sugar Sweetened Drinks in the State meaning that it is the […]
Following on from renewed activity in the construction sector recently we have seen a rise in enquiries for assistance with the operation of Relevant Contracts Tax (RCT). Enquiries Rising for assistance with Relevant Contracts Tax (RCT) The Relevant Contracts Tax system has been completely revamped since 1st Jan 2012. Gone are the paper based RCTDC […]