Income Tax Returns

 

As part of the Irish Revenue Commissioners’ Annual Non-Filer Programme, Notices will be sent to taxpayers who are currently registered for Income Tax or Corporation Tax but who have not filed Income Tax or Corporation Tax Returns for tax years up to and including 2023.  Tax Agents will receive a ROS Inbox Notification on 31^st January 2025 providing them with a list of clients who have been issued with a Reminder to File Notice.  Please be aware that this notice is what is deemed to be a Level 1 Compliance Intervention.

 

If you have received a Notice but you are no longer considered to be a “Chargeable Person”, the advice is to cancel your Income Tax or Corporation Tax registration as soon as possible.

 

For full information on who is deemed to be a “Chargeable Person” please click:

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-41a/41a-01-01.pdf

 

 

According to Revenue’s “Reminder to file – Income Tax Return” Notice:

“This notice is a Level 1 Compliance Intervention in accordance with Revenue’s Compliance Intervention Framework. The non-filing of a required tax return by chargeable persons can result in a penalty charge and a more detailed review by Revenue. It is also an offence for which a person can be prosecuted. Further information on your rights and obligations under Revenue’s Compliance Intervention Framework can be found on www.revenue.ie.

 

In addition, if the tax return(s) is not filed it may lead to the loss or refusal of tax clearance.”

 

 

 

According to Revenue’s “Reminder to file – Corporation Tax Return” Notice:

This notice is a Level 1 Compliance Intervention in accordance with Revenue’s Compliance Intervention Framework. The non-filing of a required tax return can result in a more detailed review by Revenue. It is also an offence for which a person can be prosecuted. It can also result in the restriction of certain reliefs, and the loss or refusal of tax clearance. Further information on your rights and obligations under Revenue’s Compliance Intervention Framework can be found on www.revenue.ie.

 

 

 

 

For further information, please click:

https://www.revenue.ie/en/tax-professionals/tdm-wm/compliance/returnscompliance/it-and-ct-returnscompliance/income-tax-and-corporation-tax-non-filer-programme.pdf

 

 

 

If you receive a Level 1 Notification and you are required to file Tax Returns for outstanding years, please contact us at queries@accountsadvicecentre.ie

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

 

 

January is a very important month in terms of pay and file obligations.  To avoid exposure to interest and penalties, please find below a list of pay and file deadline dates for January 2025 under the following tax heads: Income Tax, Corporation Tax, VAT, Local Property Tax, Capital Gains Tax, Capital Acquisitions Tax, Dividend Withholding Tax and Professional Services Withholding Tax.

 

 

1^st January 2025

 

• 2024 Employment Detail Summary is available.

 

• The minimum Wage Increased to €13.50 per hour.

 

• Changes to USC – The 4% rate is reduced to 3% and the entry threshold increases to €27,382.01

 

• Changes to Rate Bands from €42,000 to €44,000 for individuals. Married couples and civil partners with one income will increase to €53,000 and married couples and civil partners with two incomes will increase to €88,000.

 

• Increases from €1,875 to €2,000 for Single Persons, Employee PAYE Tax Credit, Earned Income Tax Credits and Widowed Person or Surviving Civil Partner with dependent child(ren).

 

• Commencement of phased payments for Local Property Tax.

 

• Increases in VAT thresholds for goods and services. From €40,000 to €42,500 for services. From €80,000 to €85,000 for goods.

 

• The increased thresholds for Capital Acquisitions Tax: From €335,000 to €400,000 (Group Class A), from €32,500 to €40,000 (Group Class B) and €16,250 to €20,000 (Group Class C)

 

 

 

10^th January 2025

 

Latest date for paying Local Property Tax in full through an approved PSP, or by debit or credit card.

 

 

 

14^th January 2025

 

• Monthly Return and payment for PAYE, PRSI and USC for December 2024 – The payment date is extended to 23rd for users who pay and file via ROS.

 

 

• Quarterly Return and payment for PAYE, PRSI and USC for the period October to December 2024 – The payment date is extended to 23rd for users who pay and file via ROS.

 

 

• Return and payment of Dividend Withholding Tax for December 2024

 

 

•  F30 Monthly Return and payment of Professional Services Withholding Tax for December 2024

 

 

 

15^th January 2025

 

Monthly direct debit payments for Local Property Tax (LPT) start and continue on the 15th day of every month, thereafter.  Date extended to 21st March 2025 if paying by Annual Debit Instruction.

 

 

 

19^th January 2025

 

• Monthly VAT3 Return & Payment for December 2024.

 

• Bi-Monthly VAT3 Return & Payment for period 1^st November to 31^st December 2024.

 

• Four Monthly VAT3 Return & Payment for period 1^st September to 31^st December 2024.

 

• Bi-Annual VAT3 Return and payment for period 1^st July to 31^st December 2024.

 

• Annual VAT3 Return and payment for period 1^st January to 31^st December.

 

 

Return of Trading Detail:

• where the VAT accounting period ends between 1st and 31^st December and monthly VAT3 Returns are filed.

 

• where the VAT accounting period ends between 1st November and 31^st December and bi-monthly VAT3 Returns are filed.

 

• where the VAT accounting period ends between 1st September and 31^st December and four-monthly VAT3 Returns are filed.

 

• where the VAT accounting period ends between 1st and 31^st December and annual VAT3 Returns are filed.

 

For ROS filers, the time limit for filing a VAT return is extended to the 23rd day of the month.

 

 

 

1^st to 21^st January 2025

 

• Corporation Tax Preliminary Tax for Accounting Periods ending between 1^st and 28^th February 2025

 

• Corporation Tax Returns for Accounting Periods ending between 1^st and 30^th April 2024.

 

•  Corporation Tax Balancing payments due for Accounting Periods ending between 1^st and 30^th April 2024

 

For ROS filers, the time limit for filing a CT Return and/or payment is extended to the 23rd day of the month.

 

 

 

31^st January 2025

 

• Payment of capital gains tax for assets sold between 1^st December 2024 and 31^st December 2024

 

• OSS VAT return and payment for the period 1^st October to 31^st December 2024

 

• IOSS Monthly Return and payment due for period December 2024.

 

 

 

 

For VAT details, please click:

https://www.revenue.ie/en/vat/vat-registration/who-should-register-for-vat/vat-thresholds.aspx

 

https://www.revenue.ie/en/vat/vat-ecommerce/import-oss/index.aspx

 

 

 

For information on Standard Rate Bands and Tax Credits, please click:

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/tax-relief-charts/index.aspx

 

 

 

For further information on Local Property Tax, please click:

https://www.revenue.ie/en/property/local-property-tax/paying-your-lpt/index.aspx

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

Understand the Tax measures of Budget 2025 which relate to property transactions, at a glance.

 

 

Today, the Minister for Finance and the Minister for Public Expenditure, NDP Delivery and Reform, announced the details of Budget 2025.

 

 

As anticipated, Budget 2025 introduced several tax measures in relation to property.

 

 

This article will focus on the property related tax measures introduced by Budget 2025, under Income Tax/Personal Tax, Residential Zoned Land Tax (RZLT), Stamp Duty, Vacant Homes Tax (VHT) and Value Added Tax (VAT).

 

 

 

 

INCOME TAX / PERSONAL TAX

 

 

 Rent Tax Credit

 

• Budget 2025 raised the Rent Tax Credit

 

• The Rent Tax Credit has been increased to €1,000 for individual renters, or €2,000 per year for jointly assessed married couples/civil partners.

 

• This applies to the tax years 2024 and 2025.

 

• Prior to this, the Rent Tax Credit for 2024 was worth €750 for a single individual and €1,500 for a jointly assessed married couple/civil partners.

 

• As a result of Budget 2025, these new rates have been backdated to cover the 2024 tax year as well as the 2025 year of assessment.

 

 

 

 

 Mortgage Interest Relief

 

• Mortgage Interest Relief has been extended.

 

• There has been no change to the qualifying criteria.

 

• Homeowners must have an outstanding mortgage balance on their principal private residence of between €80,000 and €500,000 as of 31st December 2022.

 

• Qualifying homeowners will be eligible for this tax relief in respect of the increased interest paid on their mortgage in 2024 as compared with 2022.

 

• Tax Relief is at the standard Income Tax rate of 20%.  The Tax Credit is capped at €1,250 per property.

 

• To claim Mortgage Interest Relief, the taxpayer must file a Tax Return and the taxpayer must be compliant with Local Property Tax (LPT) requirements.

 

 

 

 

Help to Buy Scheme

 

• The Help to Buy Scheme has been extended for a further four years at the current rates until the end of 2029.

 

• The aim of the scheme is to provide certainty for future homebuyers as well as the Irish property market.

 

• The Help to Buy Scheme is a tax rebate available to first-time buyers to enable them to buy a newly built or self-built house or apartment provided the cost of that purchase is €500,000 or less.

 

• With the extension of this scheme, first-time buyers of residential property will be able to continue to avail of (i) Income Tax and (ii) Deposit Interest Retention Tax refunds to help them purchase their home.

 

• The scheme offers a tax refund to first-time buyers, with a maximum value of €30,000 or 10% of the property price, whichever is less.

 

• The refund will be from the four tax years prior to when the application is made.

 

• The refund will not include any refunds already claimed.

 

 

 

 

Pre-Letting Expenses Relief

 

• Under Pre-Letting Expenses Relief, the current tax relief, capped at €10,000 per premises, for certain pre-letting expenditure will be extended for a further three years to 31^st December 2027.

 

• Section 97A TCA ‘97, which deals with rental expenses, provides that certain expenses incurred on a vacant residential property before its first letting following a period of non-occupancy are allowable as a deduction against rental income from that specific premises.

 

• To be allowable, the pre-letting expenses (capped at €10,000 per property) must be incurred on a property that was vacant for a minimum of six months and is then let as a residential property on/before 31^st December 2027.

 

• These provisions allow for a deduction for certain pre-letting expenses which, otherwise wouldn’t be allowable.

 

 

 

 

 

RESIDENTIAL ZONED LAND TAX (RZLT)

 

• As part of its strategy to meet an increased demand for housing, the Irish Government introduced the Residential Zoned Land Tax (RZLT), which is a new tax on land which is zoned for residential development and which has, in place, all the necessary services to develop housing.

 

• It was originally introduced in Finance Act 2021 and stated that owners of lands which are zoned under the RZLT were to be taxed at a rate of 3% of the site’s market value from 1^st February each year commencing in 2025.

 

 

• Owners whose properties are subject to Local Property Tax and have a garden exceeding one acre will not be obliged to pay Residential Zoned Land Tax. They will, however, be required to complete and file a Tax Return containing details of the property.

 

 

• Budget 2025 has provided landowners with an option to re-zone their land, based on the economic activity carried out on their land and to seek changes to the zoning maps in advance of the final maps being published on 31^st January 2025.

 

 

• In summary, Budget 2025 has announced a new process available to certain landowners to obtain an exemption from the tax in 2025 where their land should not be subject to the tax.

 

 

• Budget 2025 has also introduced a twelve month deferral of the liability between the date planning permission was granted and the commencement date of the development

 

 

 

 

 

 

STAMP DUTY

 

 

New 6% Residential Rate

 

A new 6% rate of Stamp Duty has been introduced on residential properties from 2^nd October 2024.

 

The stamp duty rates for residential properties will now be as follows:

 

• 1% on consideration up to and including €1m

 

• 2% on consideration over €1m and up to and including €1.5m

 

• 6% on consideration over €1.5m

 

The existing stamp duty rates will continue to apply to instruments executed before 1^st January 2025 on foot of a binding contract in place before 2^nd October 2024.

 

 

 

 

10% rate for Bulk Purchases increased to 15%

 

• Where a person acquires at least ten residential units during any twelve month period, the higher rate of stamp duty is being increased from 10% to 15%, with immediate effect.

 

 

• The existing 10% rate will continue to apply to instruments executed before 1^st January 2025 where a binding contract was in place before 2^nd October 2024.

 

 

 

 

 

 

VACANT HOMES TAX (VHT)

 

• A Vacant Homes Tax (VHT) was introduced by the Irish Government in Finance Act 2022 to encourage an increase in the supply of residential properties available for rent or purchase. As a further incentive, Budget 2025 has increased the rate of the VHT from five to seven times a property’s existing base Local Property Tax (LPT) liability.

 

 

• This will take effect from 1st November 2024 i.e. the next chargeable period for Vacant Homes Tax.

 

 

• VHT applies to any residential property which is occupied for less than 30 days in a twelve month period between 1st November and 31st October of the following year.

 

 

 

 

 

VALUE ADDED TAX (VAT)

 

 

VAT Rate on Heat Pumps

 

• A reduction in the VAT rate for heat pumps to 9% is effective from 1^st January 2025.

 

• This applies to the supply and installation of heat pumps.

 

• The heat pumps must meet specific technical standards, as outlined in the EU Directive.

 

• The aim is to encourage homeowners to install heat pumps to support climate action.

 

 

 

 

VAT Rate for Gas & Electricity

 

• The 9% rate of VAT on gas and electricity is to be extended until 30^th April 2025.

 

• The rate had been due to revert to 13½% on 1^st November 2024.

 

• The aim of this extension is to reduce the cost of living.

 

 

 

 

 

For full information on Budget 2025, please click https://www.gov.ie/en/publication/e8315-budget-2025/

 

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

 

In the United Kingdom, the tax year commences on 6th April and ends on the following 5th April.  HMRC have published a set of criteria which outlines the taxpayer’s requirements in order to accurately and correctly complete a self-assessment tax return.  For further information please click link:  https://www.gov.uk/log-in-file-self-assessment-tax-return

 

 

You are required to file a self-assessment form if you are a self-employed individual or if you receive untaxed income, for example, from rental properties.  In other words, the self-assessment system applies to any individual whose income is not automatically taxed at source. To check if you need to file a self-assessment tax return please click: https://www.gov.uk/check-if-you-need-tax-return

 

 

For the 2023/24 tax year, taxpayers in receipt of PAYE earnings of up to £150,000 are no longer required to file a self-assessment tax return, provided, of course, that they do not meet any of the other self-assessment criteria outlined by HMRC.

 

 

The self-assessment deadline is 31st January 2025 for online submissions, however, if you submitted a paper tax return, the deadline was 31^st October 2024.  Please keep in mind that the tax is still due by 31^st January 2025.

 

 

Online Tax Returns must be filed and all outstanding tax paid on or before 31st January following the end of the tax year.

 

 

In other words:

 

1. the online 2023/2024 self-assessment tax return must be submitted on or before 31^st January 2025.

 

2. The deadline for paying tax due for the 2023/24 tax year is 31^st January 2025 and

 

3. The first payment on account for the 2024/25 tax year is 31^st January 2025

 

 

Failing to file your tax return or pay your taxes by the appropriate date can result in penalties. Missing the 31^st January deadline comes can result in significant penalties even if no tax is owed.  For full details, please click: https://www.gov.uk/self-assessment-tax-returns/penalties

 

 

In summary, missing any of the Self-Assessment deadlines can result in penalties and interest. A delay in filing your Tax Return by a single day can result in a £100 fine, even if you don’t actually owe any tax.

 

 

 

You can register for self-assessment through the HMRC website before the deadline of 5^th October.  For further information, please click: https://www.gov.uk/register-for-self-assessment

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

The Income Tax Return filing deadline is 31st October 2024.  That deadline date is extended to 14^th November 2024 provided you file both (a) your Income Tax Return and (b) your Income Tax Balance due for 2023 plus your 2024 Preliminary Tax.

 

 

When preparing your 2023 Income Tax Return, here are some Tax Reliefs you may not have considered before:

 

 

Childminders Tax Relief Scheme

 

You could be entitled to the Childminder’s Tax Relief if:

 

• You mind three or fewer children in your own home at any one time and

 

• You earn no more than €15,000 per annum.

 

• You must have informed the HSE that you will be providing such services in your own home.

 

• You must be registered as self employed and registered under self assessment.

 

 

No tax will be payable on the childminding earnings received, provided the amount is not more than €15,000 per annum.

 

 

As you cannot deduct any expenses, there is no requirement to maintain and keep detailed accounts.

 

 

If another person provides childcare services with you in your home, the €15,000 income limit is divided between you.

 

 

Despite the fact that you may have no Income Tax liability, you are obliged to file a Form 11 Tax Return by 31^st October 2024 or 14^th November 2024, whichever is relevant to you.

 

 

If, however, the childminding income exceeds the €15,000 annual threshold, the total amount will be taxed as normal under the self-assessment rules.

 

 

For further details, please click: https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-07/07-01-29.pdf

 

 

 

 

Irish rent tax credit

 

 

The Rent Tax Credit was introduced in Budget 2023 which is available for the tax years 2022 to 2025 inclusive.

 

 

In Budget 2024, the Rent Tax Credit was increased by €250.

 

 

When completing your 2023 Form 11 Tax Return the rent tax credit is worth a maximum of €500 per year from 2023 for a single individual and €1,000 for a married couple.

 

 

The rent tax credit is calculated as 20% of the rent paid in the year and is capped at €500 for a single person or €1,000 for a couple who are jointly assessed to tax.

 

 

When calculating your 2024 Preliminary Tax liability, the rent tax credit increases to €750 for a single individual and €1,500 for a married couple.

 

 

Please be aware that the claim must relate to rental payments which both (a) fell due and (b) were actually paid during the tax year of assessment.

 

 

This tax credit will only be available to taxpayers who are not in receipt of any other housing supports.

 

 

 

For further details, please click: https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land-and-property/rent-credit/index.aspx

 

 

 

 

Training Course Fees

 

Relief is available for fees between €317 and €1,270 paid in respect of Information Technology and Foreign Language courses which are on Revenue’s list of approved Courses.

 

To check the eligibility of your course, please click the following links:

 

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/documents/education/s476-approved-languages-2009-10.pdf

 

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/documents/education/s476-approved-it-courses-2014.pdf

 

 

 

These courses must be at least two years in duration and must not be a postgraduate course. Instead postgraduate courses in foreign languages or information technology may qualify for tuition fees relief.  For further details, please click the following link: https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/education/tuition-fees-paid-for-third-level-education/index.aspx

 

 

This relief applies to fees if you are the student or if you have paid fees on behalf of another person.

 

 

For complete information, please click: https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/education/foreign-language-and-it-courses/index.aspx

 

 

 

 

To get your tax return filed before the income tax deadline, please contact us on queries@accountsadvicecentre.ie

 

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

 

Revenue has confirmed that the extended ROS Pay and File deadline is Wednesday, 17th November 2021.  This applies to ROS return filing and payment for self-assessment Income Tax and Capital Acquisitions Tax (CAT).  For taxpayers who don’t use ROS to file their tax return and pay their tax bill, the deadline remains 31st October 2021.

 

For self assessment Income Taxpayers who file their 2020 Form 11 Tax Return and make the appropriate payment through the Revenue Online System in relation to (i) Preliminary Tax for 2021 and/or (ii) the balance of Income Tax due for 2020, the filing date has been extended to Wednesday, 17th November 2021.

 

This extended deadline will also apply to CAT returns and appropriate payments made through ROS for beneficiaries who receive gifts and/or inheritances with valuation dates in the year ended 31st August 2021.

 

To qualify for the extension, taxpayers must pay and file through the ROS system. 

 

In situations where only one of these actions is completed through the Revenue Online System, the extension will not apply.  As a result,  both the submission of tax returns and relevant payments must be made on or before 31st October 2021.

 

The Revenue Commissioners have confirmed extended opening hours for the ROS Technical Helpdesk and Collector General’s Division in the days leading up to the ROS Pay and File deadline.

 

On 17th November (Pay & File Deadline) the phone lines of the ROS Technical Helpdesk will operate between 9am and midnight while those of the Collector General will operate from 9am until 8pm.

 

 

For further information, please click: https://www.revenue.ie/en/tax-professionals/ebrief/2021/no-0882021.aspx

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

There are two main types of director: a proprietary director who owns more than 15% of the share capital of the company and a non-proprietary director who owns less than 15% of the share capital of the company.  In general, a director is deemed to be a ‘chargeable person’ for Income Tax purposes.  This means that they are obliged to file an Income Tax Return (Form 11) every year even in situations where their entire income has already been taxed at source through the PAYE system (i.e. the company payroll).  Non-proprietary directors, however, as well as unpaid directors, are excluded from the obligation to file an annual income tax return.

 

A Proprietary Director must also comply with the self-assessment regime which means they have a requirement to make payments on account to meet their preliminary tax obligations. In situations where these payments are not made by the due date, the director is exposed to statutory interest at a rate of approximately 8% per annum.

 

A late surcharge applies in circumstances where the Director’s Income Tax Return is filed after the due date.  The surcharge is either (a) 5% where the tax return is delivered within two months of the filing date or (b) 10% where the tax return is not delivered within two months of the filing date. It is important to keep in mind that the surcharge will be calculated on the director’s income tax liability for the year of assessment before taking into account any PAYE deducted from their salary at source.  It should also be remembered that the Director can only claim a credit for the PAYE deducted if the company has in fact paid over this tax in full to Revenue.

 

Proprietary directors are not entitled to an Employee Tax Credit.  In general, this rule, subject to some exceptions, also applies in relation to a spouse or family member of a proprietary director who is in receipt of a salary from the company.  Proprietary Directors and their spouse and family members may, however, be entitled to the Earned Income Credit.

 

The director’s salary, just like any other employee’s salary, is an allowable deduction for the purposes of calculating Corporation Tax.

 

According to the Social Welfare and Pensions (Miscellaneous Provisions) Act 2013, a director with a 50% shareholding in the company will be insurable under Class S for PRSI purposes.  For proprietary directors with a shareholding of less than 50% of the company the PRSI treatment will be established on a case by case basis.

 

Where the director has a ‘controlling interest’ in the company, they will not be treated as ‘an employed contributor’ for PRSI purposes on any income or salary they receive from the company. Therefore, all amounts paid by the company to the director will be insurable under Class ‘S’ meaning that they will be treated as a self-employed contributor and liable to PRSI at 4%. Employers’ PRSI will not be applicable to their salary.

 

Where a Director is insured under Class A, PRSI is payable on their earnings at 4% and up to 10.75% Employer’s PRSI by the employer/company.

 

Even if you are not considered to be Irish resident by virtue of the 183 day rule or the “Look Back” rule, if you are in receipt of a salary from an Irish limited company you will be required to pay Income Tax to the Revenue Commissioners.  If, however, you are resident in a country with which Ireland has  a Double Taxation Agreement and your income is liable to tax in both countries, you should be able to claim relief on the tax you paid in Ireland.

 

 

 

For further information, please click: https://www.revenue.ie/en/employing-people/becoming-an-employer-and-ongoing-obligations/payments-to-employees/directors.aspx

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

Are you aware just how much has changed since 1st January 2020 in terms of Tax compliance, Tax Credits, Personal/Income Tax, Business/Corporation Tax, Capital Acquisitions Tax (CAT), Capital Gains Tax (CGT), Value Added Tax (VAT), PAYE, Stamp Duty, Transfer Pricing, Local Property Tax (LPT), Revenue Compliance, Revenue Audit and Investigation Procedures, etc.?

 

Here are a list of the Revenue eBriefs published in 2020

 

 

JANUARY 2020

 

Revenue eBrief No. 001/20 – Deduction for statutory registration fees paid to the Health and Social Care Professionals Council (CORU) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0012020.aspx

 

 

Revenue eBrief No. 002/20 – Uniform and Clothing Allowances paid to Fire Officers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0022020.aspx

 

 

Revenue eBrief No. 003/20 – Deduction for Expenses in Respect of Annual Membership Fees Paid to a Professional Body https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0032020.aspx

 

 

Revenue eBrief No. 004/20 – General Rule as to Deduction for Expenses in Employment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0042020.aspx

 

 

Revenue eBrief No. 005/20 – Certain benefits payable under Social Welfare Acts – increase for qualified adult https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0052020.aspx

 

 

Revenue eBrief No. 006/20 – Provisions and Accruals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0062020.aspx

 

 

Revenue eBrief No. 007/20 – Taxes Consolidation Act Notes for Guidance – Finance Act 2019 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0072020.aspx

 

 

Revenue eBrief No. 008/20 – Certificates of Income for Non-Revenue Purposes -Self Assessment Cases https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0082020.aspx

 

 

Revenue eBrief No. 009/20 – Pay & File Extension Date – 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0092020.aspx

 

 

Revenue eBrief No. 010/20 – Capital Gains Tax (CGT) Farm Restructuring Relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0102020.aspx

 

 

Revenue eBrief No. 011/20 – Guidelines for Phased Payment Arrangements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0112020.aspx

 

 

Revenue eBrief No. 012/20 – Pensions Manual Updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0122020.aspx

 

 

Revenue eBrief No. 013/20 – Stamp duty levies – health insurance levy and bank levy https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0132020.aspx

 

 

Revenue eBrief No. 014/20 – Chargeable Persons https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0142020.aspx

 

 

Revenue eBrief No. 015/20 – Rates of stamp duty – Finance Act 2019 changes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0152020.aspx

 

 

Revenue eBrief No. 016/20 – The tax treatment of rental income (Case V) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0162020.aspx

 

 

Revenue eBrief No. 017/20 – Home Carer Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0172020.aspx

 

 

Revenue eBrief No. 018/20 – Tax treatment of legal fees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0182020.aspx

 

 

Revenue eBrief No. 019/20 – Electronic Tax Clearance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0192020.aspx

 

 

Revenue eBrief No. 020/20 – General Rule as to Deduction for Expenses in Employment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0202020.aspx

 

 

Revenue eBrief No. 021/20 – Charities VAT Compensation Scheme – Guidelines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0212020.aspx

 

 

Revenue eBrief No. 022/20 – Universal Social Charge https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0222020.aspx

 

 

Revenue eBrief No. 023/20 – Schedule E expense deductions for employed consultants and non-consultant hospital doctors (NCHDs) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0232020.aspx

 

 

Revenue eBrief No. 024/20 – Dividend Withholding Tax Manual 06-08a-01 updated in accordance with Finance Act 2019 changes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0242020.aspx

 

 

Revenue eBrief No. 025/20 – Administration of Form S.110 – Notification of ‘qualifying company’ and Form S.110W – Withdrawal of notification of ‘qualifying company’ https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0252020.aspx

 

 

Revenue eBrief No. 026/20 – Average market mid-closing exchange rates and Lloyds sterling conversion rates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0262020.aspx

 

 

Revenue eBrief No. 027/20 – Anti-Tax Avoidance Directive (ATAD) – Exit Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0272020.aspx

 

 

Revenue eBrief No. 028/20 – Amendment of Certain Tax Exemption Provisions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0282020.aspx

 

 

 

FEBRUARY 2020

 

Revenue eBrief No. 029/20 – “Main purpose” tests https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0292020.aspx

 

 

Revenue eBrief No. 030/20 – Tax treatment of income arising from the provision of short-term accommodation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0302020.aspx

 

 

Revenue eBrief No. 031/20 – Prohibitions and Restrictions concerning Endangered Species and Wildlife https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0312020.aspx

 

 

Revenue eBrief No. 032/20 – Tax treatment of foster care payments and certain other payments made or authorised by the Child and Family Agency https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0322020.aspx

 

 

Revenue eBrief No. 033/20 – Tax treatment of certain education related payments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0332020.aspx

 

 

Revenue eBrief No. 034/20 – Revenue National Employer Service https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0342020.aspx

 

 

Revenue eBrief No. 035/20 – 2019 Form ESS1 – Return of Information by the Trustees of an Approved Profit Sharing Scheme (APSS) is now available on ROS https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0352020.aspx

 

 

Revenue eBrief No. 036/20 – Earned Income Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0362020.aspx

 

 

Revenue eBrief No. 037/20 – Living City Initiative https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0372020.aspx

 

 

Revenue eBrief No. 038/20 – iXBRL – Guidance for voluntary strike-offs and other amendments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0382020.aspx

 

 

 

MARCH 2020

 

Revenue eBrief No. 039/20 – Mitigation and Application of Fines and Penalties https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0392020.aspx

 

 

Revenue eBrief No. 040/20 – Case V Capital Allowances https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0402020.aspx

 

 

Revenue eBrief No. 041/20 – Surcharge for late returns: Due dates when starting a business https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0412020.aspx

 

 

Revenue eBrief No. 042/20 – Farming – Tax treatment of payments made under Rural Environment Protection Scheme (REPS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0422020.aspx

 

 

Revenue eBrief No. 043/20 – Case V Capital Allowances and Losses forward for USC Purposes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0432020.aspx

 

 

Revenue eBrief No. 044/20 – Revenue to operate Employer COVID-19 Refund Scheme on behalf of DEASP https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0442020.aspx

 

 

Revenue eBrief No. 045/20 – e-Working and Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0452020.aspx

 

 

Revenue eBrief No. 046/20 – Advice and information to assist taxpayers and their agents during the COVID-19 pandemic https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0462020.aspx

 

 

Revenue eBrief No. 47/20 – Revenue to operate Temporary COVID-19 Wage Subsidy Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0472020.aspx

 

 

Revenue eBrief No. 48/20 – Temporary COVID-19 Wage Subsidy Scheme – Transitional Phase https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0482020.aspx

 

 

Revenue eBrief No. 049/20 – Taxation of Deposit Interest https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0492020.aspx

 

 

Revenue eBrief No. 50/20 – Important customer notice regarding Revenue services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0502020.aspx

 

 

Revenue eBrief No. 051/20 – Customs Value Authorisation (CVA) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0512020.aspx

 

 

Revenue eBrief No. 052/20 – Guidance Manual on Customs Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0522020.aspx

 

 

Revenue eBrief No. 053/20 – VAT Groups https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0532020.aspx

 

 

Revenue eBrief No. 054/20 – Benefit-in-Kind – Employer-Provided Vehicles https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0542020.aspx

 

 

Revenue eBrief No. 055/20 – Betting Duty Returns and Payments Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0552020.aspx

 

 

 

 

APRIL 2020

 

Revenue eBrief No. 056/20 – Research and Development Tax Credit early payment of the instalment due to be paid in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0562020.aspx

 

 

Revenue eBrief No. 057/20 – Guidelines for filing ESS1 returns https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0572020.aspx

 

 

Revenue eBrief No. 058/20 – Revenue Online Service – ROS Enhancements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0582020.aspx

 

 

Revenue eBrief No. 059/20 – Deduction for income earned in certain foreign states (Foreign Earnings Deduction) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0592020.aspx

 

 

Revenue eBrief No. 060/20 – Vehicle Registration Tax – Valuation System for New and Used Vehicles https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0602020.aspx

 

 

Revenue eBrief No. 061/20 – Revised tax treatment of royalty income, with effect from 1 January 2019, under the terms of the Ireland-Lithuania Double Taxation Convention 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0612020.aspx

 

 

Revenue eBrief No. 062/20 – Treatment of Additional Tier 1 Capital – section 845C, Taxes Consolidation Act, 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0622020.aspx

 

 

Revenue eBrief No. 063/20 – Temporary VAT zero rating of supplies of personal protective equipment, ventilators and other medical products https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0632020.aspx

 

 

Revenue eBrief No. 064/20 – Opticians in employment – professional indemnity cover https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0642020.aspx

 

 

Revenue eBrief No. 065/20 – Capital acquisitions tax: dwelling house exemption and ‘same event’ credit for CGT against CAT https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0652020.aspx

 

 

Revenue eBrief No. 066/20 – Late Submission of Corporation Tax Returns – Restriction of Reliefs https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0662020.aspx

 

 

Revenue eBrief No. 067/20 – Tobacco Products Tax Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0672020.aspx

 

 

Revenue eBrief No. 068/20 – Guidelines for Article 9 Correlative Adjustment claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0682020.aspx

 

 

Revenue eBrief No. 069/20 – Diesel Rebate Scheme Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0692020.aspx

 

 

Revenue eBrief No. 070/20 – Capital Gains Tax – interests in trusts, treatment of shares and securities, etc. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0702020.aspx

 

 

Revenue eBrief No. 071/20 – Excise Duty Rates on Energy Products and Electricity Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0712020.aspx

 

 

Revenue eBrief No. 072/20 – Tax and Duty Manual Part 15-01-18 – One Parent Family Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0722020.aspx

 

 

 

MAY 2020

 

Revenue eBrief No. 073/20 – Exemption in respect of compensation for certain living donors https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0732020.aspx

 

 

Revenue eBrief No. 074/20 – Special Assignee Relief Programme (SARP) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0742020.aspx

 

 

Revenue eBrief No. 075/20 – Temporary Wage Subsidy Scheme (TWSS) – Operational Phase https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0752020.aspx 

 

 

Revenue eBrief No. 076/20 – Capital Gains Tax – rate of charge, annual exempt amount, computation of companies’ chargeable gains etc. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0762020.aspx

 

 

Revenue eBrief No. 077/20 – The application of the Capital Goods Scheme and the VAT treatment of Donations or Gifts of goods or meals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0772020.aspx

 

 

Revenue eBrief No. 078/20 – Tax treatment of the reimbursement of expenses of travel and subsistence to office holders and employees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0782020.aspx

 

 

Revenue eBrief No. 079/20 – VAT RTD – Introduction of Automated Compliance Measures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0792020.aspx

 

 

Revenue eBrief No. 080/20 – Horticultural Repayment Relief Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0802020.aspx

 

 

Revenue eBrief No. 081/20 – Importation and exportation of medicinal products and unauthorised or counterfeit medical preparations https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0812020.aspx

 

 

Revenue eBrief No. 082/20 – Service companies surcharge – Provision of medical staff, Guidance from professional bodies, Preparatory work https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0822020.aspx

 

 

Revenue eBrief No. 083/20 – Temporary measures in relation to the close company surcharge https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0832020.aspx

 

 

Revenue eBrief No. 084/20 – Domicile Levy and Capital Gains Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0842020.aspx

 

 

Revenue eBrief No. 085/20 – Solid Fuel Carbon Tax Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0852020.aspx

 

 

Revenue eBrief No. 086/20 – Guide to Excise Licences https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0862020.aspx

 

 

Revenue eBrief No. 087/20 – Update – Public Consultation on Dividend Withholding Tax (DWT) – Real-Time Reporting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0872020.aspx

 

 

Revenue eBrief No. 088/20 – Charities VAT Compensation Scheme – extension to closing date for submitting claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0882020.aspx

 

 

Revenue eBrief No. 089/20 – Individuals described as ‘locums’ engaged in the fields of medicine, health care and pharmacy https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0892020.aspx

 

 

Revenue eBrief No. 090/20 – Updates to Revenue’s services for customers with disabilities, including a remote interpretation service for Revenue’s deaf customers. https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0902020.aspx

 

 

Revenue eBrief No. 091/20 – The European Convention on Human Rights Act 2003 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0912020.aspx

 

 

Revenue eBrief No. 092/20 – Health Expenses – Qualifying Expenses https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0922020.aspx

 

 

Revenue eBrief No. 093/20 – Childcare services relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0932020.aspx

 

 

Revenue eBrief No. 094/20 – Income Tax Relief for Medical and/or Dental Insurance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0942020.aspx

 

 

Revenue eBrief No. 095/20 – Receiver of Wreck https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0952020.aspx

 

 

Revenue eBrief No. 096/20 – Commercial Sea Navigation Relief Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0962020.aspx

 

 

 

 

JUNE 2020

 

Revenue eBrief No. 097/20 – Allowances for Scientific Research https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0972020.aspx

 

 

Revenue eBrief No. 098/20 – Pensions Manual Amended https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0982020.aspx

 

 

Revenue eBrief No. 099/20 – Pensions Manual Chapter 16 – Group Schemes https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0992020.aspx

 

 

Revenue eBrief No. 100/20 – Sugar Sweetened Drinks Tax Compliance Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1002020.aspx

 

 

Revenue eBrief No. 101/20 – Compliance Programme for Agent Services representing PAYE Taxpayers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1012020.aspx

 

 

Revenue eBrief No. 102/20 – Taxation of Maternity Benefit, Paternity Benefit, Parent’s Benefit, Adoptive Benefit and Health and Safety Benefit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1022020.aspx

 

 

Revenue eBrief No. 103/20 – Income from scholarships https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1032020.aspx

 

 

Revenue eBrief No. 104/20 – Employed person taking care of an incapacitated individual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1042020.aspx

 

 

Revenue eBrief No. 105/20 – High Income Individuals’ Restriction – Tax Year 2010 onwards https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1052020.aspx

 

 

Revenue eBrief No. 106/20 – Update – Temporary Wage Subsidy Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1062020.aspx

 

 

Revenue eBrief No. 107/20 – ROS Form CT1 2020 – the CT return for accounting periods ending in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1072020.aspx

 

 

Revenue eBrief No. 108/20 – Remote Bookmakers Licence https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1082020.aspx

 

 

Revenue eBrief No. 109/20 – Instruction Manual on End-Use Procedure https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1092020.aspx

 

 

Revenue eBrief No. 110/20 – VAT treatment of betting and gaming https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1102020.aspx

 

 

Revenue eBrief No. 111/20 – Third Party Returns: Requirement to Report Information Automatically https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1112020.aspx

 

 

Revenue eBrief No. 112/20 – The VAT Treatment of Medical Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1122020.aspx

 

 

Revenue eBrief No. 113/20 – The VAT treatment of Charitable Donations via SMS https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1132020.aspx

 

 

Revenue eBrief No. 114/20 – Registration of Gas and Oil Exploration Companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1142020.aspx

 

 

Revenue eBrief No. 115/20 – Exchange of Information https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1152020.aspx

 

 

Revenue eBrief No. 116/20 – Road Haulier Drivers (Employees) – Subsistence Rates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1162020.aspx

 

 

Revenue eBrief No. 117/20 – Temporary Wage Subsidy Scheme – Extension of the Temporary Wage Subsidy Scheme to August 2020 and update on a range of developments under the Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1172020.aspx

 

 

Revenue eBrief No. 118/20 – eCG50 – Guide for Applicants https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1182020.aspx

 

 

Revenue eBrief No. 119/20 – Compensation Payments in respect of Personal Injuries (Exemption of Investment Income) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1192020.aspx

 

 

Revenue eBrief No. 120/20 – TDM Part 07-01-20 – Special Trusts for permanently incapacitated individuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1202020.aspx

 

 

Revenue eBrief No. 121/20 – Pay as You Earn (PAYE) system – Employee payroll tax deductions in relation to non-Irish employments exercised in the State https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1212020.aspx

 

 

Revenue eBrief No. 122/20 – Stamp duty: associated companies relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1222020.aspx

 

 

Revenue eBrief No. 123/20 – Disclosure of confidential taxpayer information: section 851A Taxes Consolidation Act 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1232020.aspx

 

 

Revenue eBrief No. 124/20 – Capital Gains Tax – Treatment of allowable losses https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1242020.aspx

 

 

Revenue eBrief No. 125/20 – Games and Sports Bodies Exemptions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1252020.aspx

 

 

Revenue eBrief No. 126/20 – Research and Development (R&D) Credit: Appointment of expert to assist in audits https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1262020.aspx

 

 

Revenue eBrief No. 127/20 – Exchange of Information – Deferral of DAC6 filing deadlines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1272020.aspx

 

 

Revenue eBrief No. 128/20 – Chapters 6 and 11 of the Revenue Pensions Manual – pensions in payment https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1282020.aspx

 

 

Revenue eBrief No. 129/20 – Revenue Pensions Manual – Chapter 12: Withdrawal from service (leaving a pension scheme) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1292020.aspx

 

 

Revenue eBrief No. 130/20 – Budget Excise Duty Rates Manuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1302020.aspx

 

 

Revenue eBrief No. 131/20 – Exemption of Certain Childcare Support Payments https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1312020.aspx

 

 

 

JULY 2020

 

Revenue eBrief No. 132/20 – Research and Development (R&D) Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1322020.aspx

 

 

Revenue eBrief No. 133/20 – MyEnquiries – customer tracking of enquiries and other updates https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1332020.aspx

 

 

Revenue eBrief No. 134/20 – EU mandatory disclosure regime (DAC6) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1342020.aspx

 

 

Revenue eBrief No. 135/20 – Stamp duty: shares deriving value from immovable property and cancellation schemes of arrangement https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1352020.aspx

 

 

Revenue eBrief No. 136/20 – Capital Gains Tax – Capital Gains Tax – updates to manuals https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1362020.aspx

 

 

Revenue eBrief No. 137/20 – Guidance on Part 35C hybrid mismatches https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1372020.aspx

 

 

Revenue eBrief No. 138/20 – Guidelines on the processing of online tax evasion reports https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1382020.aspx

 

 

Revenue eBrief No. 139/20 – Corporation Tax Statement of Particulars – Section 882 TCA 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1392020.aspx

 

 

Revenue eBrief No. 140/20 – Charities VAT Compensation Scheme – reminder re closing date for submission of claims https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1402020.aspx

 

 

Revenue eBrief No. 141/20 – Administrative cooperation and combating fraud in the field of Value-Added Tax (VAT) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1412020.aspx

 

 

Revenue eBrief No. 142/20 – Temporary VAT measures relating to Covid-19 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1422020.aspx

 

 

Revenue eBrief No. 143/20 – Using on-line methods to make a payment to Revenue https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1432020.aspx

 

 

Revenue eBrief No. 144/20 – High Income Individuals’ Restriction: Interaction with Clawback of “Section 23 Type” Relief in Death Cases https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1442020.aspx

 

 

Revenue eBrief No. 145/20 – Relief for increase in carbon tax on farm diesel (section 664A TCA 1997) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1452020.aspx

 

 

Revenue eBrief No. 146/20 – Payment of Preliminary Corporation Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1462020.aspx

 

 

Revenue eBrief No. 147/20 – Guidelines for staff regarding the treatment of unsolicited information received from members of the public https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1472020.aspx

 

 

 

 

AUGUST 2020

 

 

Revenue eBrief No. 148/20 – Archiving of Manuals under Part 41 Taxes Consolidation Act 1997 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1482020.aspx

 

 

Revenue eBrief No. 149/20 – Income tax relief for self-employed individuals adversely impacted by Covid-19 restrictions https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1492020.aspx

 

 

Revenue eBrief No. 150/20 – July Jobs Stimulus – Accelerated loss relief for companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1502020.aspx

 

 

Revenue eBrief No. 151/20 – Investment Undertakings https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1512020.aspx

 

 

Revenue eBrief No. 152/20 – Amendments to the Cycle to Work Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1522020.aspx

 

 

Revenue eBrief No. 153/20 – Help to Buy (HTB) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1532020.aspx

 

 

Revenue eBrief No. 154/20 – Childcare services relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1542020.aspx

 

 

Revenue eBrief No. 155/20 – Charities VAT Compensation Scheme https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1552020.aspx

 

 

Revenue eBrief No. 156/20 – Tax treatment of the reimbursement of expenses of travel and subsistence to office holders and employees https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1562020.aspx

 

 

Revenue eBrief No. 157/20 – Income Tax return form 2019 – ROS Form 11 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1572020.aspx

 

 

Revenue eBrief No. 158/20 – Tax and Duty Manuals on temporary loss reliefs for taxpayers (July jobs stimulus measure) updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1582020.aspx

 

 

Revenue eBrief No. 159/20 – Customs Import Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1592020.aspx

 

 

Revenue eBrief No. 160/20 – Schedule of Customs Duties Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1602020.aspx

 

 

Revenue eBrief No. 161/20 – Instruction Manual on Outward Processing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1612020.aspx

 

 

Revenue eBrief No. 162/20 – Capital Acquisitions Tax: miscellaneous issues https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1622020.aspx

 

 

Revenue eBrief No. 163/20 – Stamp Duty: relief for young trained farmers and certain leases of farmland https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1632020.aspx

 

 

Revenue eBrief No. 164/20 – Stay and Spend Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1642020.aspx

 

 

Revenue eBrief No. 165/20 – Certain Foreign Pensions – manual updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1652020.aspx

 

 

 

SEPTEMBER 2020

 

Revenue eBrief No. 166/20 – Inward Processing Instruction Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1662020.aspx

 

 

Revenue eBrief No. 167/20 – PAYE Anytime manual archived https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1672020.aspx

 

 

Revenue eBrief No. 168/20 – Standard for Automatic Exchange of Financial Account Information in Tax Matters – The Common Reporting Standard (CRS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1682020.aspx

 

 

Revenue eBrief No. 169/20 – Life Assurance Companies and Group Relief https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1692020.aspx

 

 

Revenue eBrief No. 170/20 – Customs Export Procedures Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1702020.aspx

 

 

Revenue eBrief No. 171/20 – Revenue replaces the Inland Revenue Affidavit (CA.24) with new online Form https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1712020.aspx

 

 

Revenue eBrief No. 172/20 – Customs Import Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1722020.aspx

 

 

Revenue eBrief No. 173/20 – Examinership Guidelines https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1732020.aspx

 

 

Revenue eBrief No. 174/20 – Extension of Pay & File Deadline for ROS Customers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1742020.aspx

 

 

Revenue eBrief No. 175/20 – VRT Online Payments in ROS and MyAccount https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1752020.aspx

 

 

Revenue eBrief No. 176/20 – Tax and Duty Manual on income tax relief for losses incurred in a trade or profession updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1762020.aspx

 

 

Revenue eBrief No. 177/20 – Waiver of Excise Duty on on-trade liquor licences on renewal in 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1772020.aspx

 

 

Revenue eBrief No. 178/20 – Air Travel Tax Manual archived https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1782020.aspx

 

 

Revenue eBrief No. 179/20 – Relief for certain income from leasing of farm land (Section 664) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1792020.aspx

 

 

 

OCTOBER 2020

 

Revenue eBrief No. 180/20 – Extension of deadline to avail of a 3% reduced rate of interest on outstanding ‘non-Covid-19’ tax debts https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1802020.aspx

 

 

Revenue eBrief No. 181/20 – Late filings of Form S.110 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1812020.aspx

 

 

Revenue eBrief No. 182/20 – Guidelines for Registration for IT, CT, RCT, PREM and Certain Minor Taxheads https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1822020.aspx

 

 

Revenue eBrief No. 183/20 – Update to Guidelines for VAT Registration https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1832020.aspx

 

 

Revenue eBrief No. 184/20 – Cancellation of Tax Registration https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1842020.aspx

 

 

Revenue eBrief No. 185/20 – ROS Pay and File 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1852020.aspx

 

 

Revenue eBrief No. 186/20 – VAT Treatment of Education and Vocational Training https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1862020.aspx

 

 

Revenue eBrief No. 187/20 – Tobacco Products Tax Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1872020.aspx

 

 

Revenue eBrief No. 188/20 – Budget 2021 – Excise Duty Rates – https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1882020.aspx

 

 

Revenue eBrief No. 189/20 – PAYE Services: Review Your Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1892020.aspx

 

 

Revenue eBrief No. 190/20 – Budget 2021 – Income Tax Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1902020.aspx

 

 

Revenue eBrief No. 191/20 – Vehicle Registration Tax Manual – Section 1 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1912020.aspx

 

 

Revenue eBrief No. 192/20 – Guidance Manual on Comprehensive Guarantee https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1922020.aspx

 

 

Revenue eBrief No. 193/20 – e-Working and Tax https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1932020.aspx

 

 

Revenue eBrief No. 194/20 – Accounting for Mineral Oil https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1942020.aspx

 

 

Revenue eBrief No. 195/20 – Taxation of Guardian’s Payment (Contributory) and Guardian’s Payment (Non-Contributory) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1952020.aspx

 

 

Revenue eBrief No. 196/20 – Temporary VAT measures relating to Covid-19 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1962020.aspx

 

 

Revenue eBrief No. 197/20 – Budget 2021 – Changes to the Value Added Tax rates on the supply of certain goods and services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1972020.aspx

 

 

Revenue eBrief No. 198/20 – Excise Duty Rates on Energy Products and Electricity Manual https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1982020.aspx

 

 

Revenue eBrief No. 199/20 – Customs Manual on Import VAT https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-1992020.aspx

 

 

 

 

NOVEMBER 2020

 

Revenue eBrief No. 200/20 – EU Mandatory Disclosure of Reportable Cross-Border Arrangements https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2002020.aspx

 

 

Revenue eBrief No. 201/20 – Guidelines for Agents or Advisors Acting on Behalf of Taxpayers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2012020.aspx

 

 

Revenue eBrief No. 202/20 – Research and Development Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2022020.aspx

 

 

Revenue eBrief No. 203/20 – ROS Support for the 2020 Pay and File Period, Extended Opening Hours and Income Tax Warehousing https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2032020.aspx

 

 

Revenue eBrief No. 204/20 – Tobacco products imported in passengers’ accompanied baggage https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2042020.aspx

 

 

Revenue eBrief No. 205/20 – Revenue Online Service – Pay and File 2020 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2052020.aspx

 

 

Revenue eBrief No. 206/20 – VAT Treatment of the Hiring of Means of Transport https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2062020.aspx

 

 

Revenue eBrief No. 207/20 – Import Duties Payment Methods https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2072020.aspx

 

 

Revenue eBrief No. 208/20 – VAT eCommerce Rules – 1 July 2021 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2082020.aspx

 

 

Revenue eBrief No. 209/20 – Return Filing Dates – Forms 11 and CT1 https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2092020.aspx

 

 

Revenue eBrief No. 210/20 – Automated Import System (AIS) Introduction https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2102020.aspx

 

 

Revenue eBrief No. 211/20 – Return of Values – Investment Undertakings https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2112020.aspx

 

 

Revenue eBrief No. 212/20 – Irish Real Estate Fund (IREF) Guidance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2122020.aspx

 

 

Revenue eBrief No. 213/20 – Surcharge on undistributed income of service companies https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2132020.aspx

 

 

Revenue eBrief No. 214/20 – Review of Opinions/Confirmations https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2142020.aspx

 

 

Revenue eBrief No. 215/20 – Professional Services Withholding Tax: Interim Refunds https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2152020.aspx

 

 

Revenue eBrief No. 216/20 – Country by Country reporting – updates to CbC User Guide and CbC XML Schema https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2162020.aspx

 

 

 

DECEMBER 2020

 

Revenue eBrief No. 217/20 – Capital Acquisitions Tax – valuation date, contingent events and qualifying expenses of incapacitated persons https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2172020.aspx

 

 

Revenue eBrief No. 218/20 – Omnibus Station Licence duty amended https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2182020.aspx

 

 

Revenue eBrief No. 219/20 – Guidelines on Irish Bankruptcy Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2192020.aspx

 

 

Revenue eBrief No. 220/20 – Manual on Civil Aviation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2202020.aspx

 

 

Revenue eBrief No. 221/20 – Income Tax Relief for Medical and/or Dental Insurance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2212020.aspx

 

 

Revenue eBrief No. 222/20 – Automated Import System (AIS) – manuals updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2222020.aspx

 

 

Revenue eBrief No. 223/20 – Filing Guidelines for DAC2-Common Reporting Standard (CRS) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2232020.aspx

 

 

Revenue eBrief No. 224/20 – DWT: Obligation on certain persons to obtain tax reference numbers https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2242020.aspx

 

 

Revenue eBrief No. 225/20 – Guidance Manual on Customs Simplified Procedures https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2252020.aspx

 

 

Revenue eBrief No. 226/20 – Large Corporates Division: Co-Operative Compliance Framework https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2262020.aspx

 

 

Revenue eBrief No. 227/20 – VAT Treatment of Guest and Holiday Accommodation https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2272020.aspx

 

 

Revenue eBrief No. 228/20 – EU mandatory disclosure regime (DAC6) – Updates to XSD file and User Guide https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2282020.aspx

 

 

Revenue eBrief No. 229/20 – Relief for investment in corporate trades https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2292020.aspx

 

 

Revenue eBrief No. 230/20 – VAT – Postponed Accounting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2302020.aspx

 

 

Revenue eBrief No. 231/20 – VAT Treatment of Restaurant and Catering Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2312020.aspx

 

 

Revenue eBrief No. 232/20 – Update on certain COVID-19 measures related to personal tax matters https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2322020.aspx

 

 

Revenue eBrief No. 233/20 – Transfers of assets, other than trading stock, within group (S.617) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2332020.aspx

 

 

Revenue eBrief No. 234/20 – Finance Act 2020 – VAT Notes for Guidance https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2342020.aspx

 

 

Revenue eBrief No. 235/20 – Filing Guidelines for DAC6 (EU Mandatory Disclosure of Reportable Cross-Border Arrangements) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2352020.aspx

 

 

Revenue eBrief No. 236/20 – Research and Development Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2362020.aspx

 

 

Revenue eBrief No. 237/20 – Guidelines for VAT Registration – with Postponed Accounting https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2372020.aspx

 

 

Revenue eBrief No. 238/20 – EU mandatory disclosure regime (DAC6) tax and duty manual updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2382020.aspx

 

 

Revenue eBrief No. 239/20 – Sea-going Naval Personnel Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2392020.aspx

 

 

Revenue eBrief No. 240/20 – Earned Income Tax Credit https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2402020.aspx

 

 

Revenue eBrief No. 241/20 – Collection of Customs Debt https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2412020.aspx

 

 

Revenue eBrief No. 242/20 – Customs Procedures – Manuals update https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2422020.aspx

 

 

Revenue eBrief No. 243/20 – Help to Buy (HTB) https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2432020.aspx

 

 

Revenue eBrief No. 244/20 – Section 56 Zero-rating of Goods and Services https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2442020.aspx

 

 

Revenue eBrief No. 245/20 – Childcare services relief updated https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-2452020.aspx

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

Revenue have confirmed in today’s guidance, ebrief No. 124/20, that there is no requirement for a person to include a capital loss in a tax return (Form 11 or Form CG1) for the chargeable period in which the loss arises in such circumstances where there is no chargeable gain, arising in the same chargeable period, against which it may be offset.

 

 

Revenue’s Tax and Duty manual Part 19-02-05, which deals with the treatment of allowable Capital Gains Tax (CGT) Losses, has been updated.

 

 

Paragraph 5.1 clarifies Revenue’s position that, where an allowable loss arises in a chargeable period and there is no chargeable gain arising in the same chargeable period against which it may be offset, then there is no obligation for a person to include the loss in a tax return for the chargeable period in which the loss arises.

 

 

 

For further information, please click: https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-02-05.pdf

 

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.

 

 

In response to the Covid-19 outbreak in Ireland, the Government has asked people to take all necessary measures to reduce the spread of the virus and, where possible, individuals are being asked to work from home.  Today Revenue updated their e-Working and Tax guidance manual (i.e. Revenue eBrief No. 045/20) around e-workers in which it published Government’s recommendation as to how employers can allow employees to work from home.  This compliance document outlines the measures for tax relief.  It also contains employee queries in relation to how e-working from home may affect their eligibility for Principal Private Residence Relief (PPRR) under Capital Gains Tax (CGT) as well their Local Property Tax (LPT).

 

The content of Tax and Duty Manual Part 05-02-13 has been updated to include:

• An explanation of what constitutes an e-worker along with examples.
• The conditions that apply to employer payments of home expenses of e-workers.
• Clarification that current Government recommendations for employees to work from home as a result of COVID-19 meet the conditions for relief.
• Guidance for employees claiming relief for allowable e-working expenses, who are not in receipt of e-working payments from their employers.

 

Revenue has defined e-working to be where an employee works:

• at home on a full or part-time basis
• part of the time at home and the remainder in the normal place of work
• while on the move, with visits to the normal place of work

 

The guidance material goes on to state that e-working involves:

• logging onto a work computer remotely
• sending and receiving email, data or files remotely
• developing ideas, products and services remotely

 

The revised Revenue guidance clarifies that the following conditions must also be met:

• There is a formal agreement in place between the employer and the employee under which the employee is required to work from home
• An employee is required to perform substantive duties of the employment at home; and
• The employee is required to work for substantial periods at home

 

The guidance confirms that e-working arrangements do not apply to individuals who in the normal course of their employment bring work home outside standard working hours.

 

It would appear from the updated material, that where there is an occasional and ancillary element to work completed from home, the e-working provisions will not apply.

 

The revised guidance does not specify what a “formal agreement” between the employer and employee might contain therefore it would be advisable for businesses/employers going forward to consider putting in place a formal structure for employees looking to avail of the e-worker relief in the future.

 

The guidance material states in broad terms that employees forced to work from home due to the Covid crisis can claim a tax credit.

“Where the Government recommends that employers allow employees to work from home to support national public health objectives, as in the case of Covid-19, the employer may pay the employee up to €3.20 per day to cover the additional costs of working from home.  If the employer does not make this payment, the employee may be entitled to make a claim under section 114 TCA 1997 in respect of vouched expenses incurred wholly, exclusively and necessarily in the performance of the duties of the employment”.

 

The revised guidance advises that employers must retain records of all tax-free allowance payments to employees.

 

In situations where an employee is working from their home but undertakes business travel on a particular day and subsequently claims travel and subsistence expenses, please be aware that if the e-workers daily allowance is also claimed by that employee for the same day, then it will be disallowed and instead, treated as normal pay in the hands of the employee/e-worker i.e. it will be subject to payroll taxes.

 

Where an employee qualifies as an e-worker, an employer can provide the following equipment for use at home where a benefit-in-kind (BIK) charge will not arise provided any private use is incidental:

• Computer, laptop, hand-held computer
• printer
• scanner
• software to facilitate working from home

 

There is no additional USC liability imposed on the provision of this work-related equipment to an employee.

 

Please be aware, however, that laptops, computers, office equipment and office furniture purchased by an employee are not allowable deductions under s. 114 of the Taxes Consolidation Act (TCA) 1997.

 

e-Working expenses can be claimed by completing an Income Tax return.  An individual can complete this form on the Revenue website as follows:

• sign into myAccount
• click on ‘Review your tax’ link in PAYE Services
• select the Income Tax return for the relevant tax year
• click ‘Your Job’
• in the ‘Claim for Tax Credits, allowances and Reliefs’ page select ‘Remote Working (e-Working) Expenses’ and insert the full amount of the expense in the “Amount” section.

As a claim may be selected for future examination, all documentation relating to a claim should be retained for a period of six years from the end of the tax year to which the claim relates.

 

Finally, for employees who meet the relevant conditions and are deemed qualify as e-workers:

• Using part of his/her home for the purposes of e-working will not affect his/her entitlement to principal private residence (PPR) relief when selling his/her home in the future.
• There is no reduction in the Local Property Tax (LPT) where part of the property is used for the purposes of e-working.

 

 

For further information, please follow the link: https://www.revenue.ie/en/tax-professionals/ebrief/2020/no-0452020.aspx

 

 

Please be aware that the information contained in this article is of a general nature.  It is not intended to address specific circumstances in relation to any individual or entity. All reasonable efforts have been made by Accounts Advice Centre to provide accurate and up-to-date information, however, there can be no guarantee that such information is accurate on the date it is received or that it will continue to remain so. This information should not be acted upon without full and comprehensive, specialist professional tax advice.