PAYE

 

The Finance (COVID-19 and Miscellaneous Provisions) Bill 2021 was published today.  The provisions contained in the Bill include amendments to existing supports which were announced in the Economic Recovery Plan in addition to the introduction of the Business Resumption Support Scheme.  These tax relief measures income Income Tax, Business/Corporation Tax, Employer and Payroll Taxes and VAT.

 

 

Reduced rate of VAT (9%) for the hospitality sector

Section 6 of the Bill amends section 46 VATCA 2010 to provide for the extension of the reduced 9% VAT rate until 31st August 2022 in relation to the following services:

• Restaurant and catering services
• Guest and holiday accommodation
• Entertainment services to include admissions to cinemas, theatres, museums, fairgrounds, amusement park and sporting facilities
• Hairdressing
• The sale of certain printed matter including brochures, maps and programmes.

 

In summary, the reduced 9% VAT rate for the tourism sector has been extended from 31st December 2021 to 31st August 2022.

 

 

Employment Wage Subsidy Scheme (EWSS)

The Employment Wage Subsidy Scheme (EWSS) is a scheme that subsidises the cost of getting employees back to work.

The extension of the scheme should provide reassurance to businesses affected by the pandemic and enable them to plan for the months ahead.

 

Section 2 of the Bill amends the Employment Wage Subsidy Scheme (Section 28B of the Emergency Measures in the Public Interest (Covid-19) (No.2) Act 2020) to provide for the following changes:

1. the extension of the Employment Wage Subsidy Scheme (EWSS) until 31st December 2021.
2. the retention of the enhanced subsidy rates up to 30th September 2021.
3. the retention of the qualifying criteria of a 30% reduction in turnover or customer orders threshold.
4. An increase in the reference period to assess eligibility for the scheme from six to twelve months with effect from 1st July 2021.

This employer/payroll tax scheme requires that employers have valid tax clearance to enter the EWSS and that they maintain this tax clearance for the duration of the scheme.

 

 

Covid Restrictions Support Scheme (CRSS) 

The COVID-19 Restrictions Support Scheme (CRSS) was introduced by the Finance Act 2020.

It provided support for businesses which had to temporarily cease as a result of public health guidelines.

At such time as the affected businesses are allowed to re-open, those claimants will have to exit this scheme.

As some of those businesses will remain financially affected, the new measures introduced in the Finance (COVID-19 and Miscellaneous Provisions) Bill 2021 published today will extend the scheme. In addition, there will be an enhanced re-start payment for businesses exiting the scheme equal to up to three weeks at double rate of payment, subject to a €10,000 cap.

 

Sections 3 and 4 of the Bill amend the Covid Restrictions Support Scheme (CRSS) and provide for the extension of the specified period until 30th September 2021.

 

Section 4 of the Bill provides for the enhanced restart week payment scheme.  The level of payment a business may claim on reopening, following the restrictions, will depend on the actual date that business reopens.

• For restart weeks between 29^th April to 1^st June 2021, the restart payment will equate to two weeks at double the normal CRSS rate subject to a cap of €5,000, being the maximum weekly amount.
• For restart weeks between 2^nd June to 31^st December 2021, the restart payment will equate to three weeks at double the normal CRSS rate subject to a cap of €10,000, being the maximum weekly amount.
• In all other cases, the standard rate of one week at the normal CRSS rate will apply, subject to a cap of €5,000, being the maximum weekly amount.

 

Please be aware:

• According to Revenue’s guidelines, an eight week deadline applies to the submission of enhanced restart week payment claims.
• A business can qualify for (a) the double restart week payment or (b) the triple restart week payment once.
• The Minister for Finance has the power to extend this scheme to 31st December 2021 by order.

 

 

Business Resumption Support Scheme (BRSS)

Section 5 of the Bill includes a new section, section 485A TCA 1997, which makes provision for a new Business Resumption Support Scheme (BRSS)

 

The main features of the scheme are as follows:

 

• BRSS is available for affected self-employed individuals and companies who carry on a trade, the profits from which are chargeable to Income Tax or Corporation Tax under Case I of Schedule D.
• It is also available to persons who carry on a trade in partnership (Income Tax), and any trading activity carried on by charities and sporting bodies.
• To qualify, businesses must be able to prove that their turnover is reduced by 75% in the reference period (i.e. 1st September 2020 to 31st August 2021) as compared with 2019 but it will be a later period if the business commenced trading on or after 26th December 2019.
• Qualifying taxpayers will be able to claim an amount equal to three times the amount as derived by 10% of their average weekly turnover during the reference period (i.e. 1st September 2020 to 31st August 2021) up to a maximum of €20,000 and 5% thereafter subject to a cap of €15,000.
• Please be aware that these payments will be treated as an advance credit for trading expenses.
• If the business was set up before 26^th December 2019 the claim will be calculated based on its actual average weekly turnover in the period starting on 1^st January 2019. For example, if the business was established after 1^st January 2019, then the claim will be based on the period from the actual commencement date up to 31^st December 2019.
• If the business was established between 26^th December 2019 and 10^th March 2020 the claim will be based on the actual average weekly turnover arising between the date of commencement and 15^th March 2020.
• If, however, the business activity commenced between 10^th March 2020 and 26^th August 2020 then the claim will be based on the actual average turnover generated between the date of commencement and 31^st August 2020.
• The individual, company or persons carrying on a partnership must have an up to date Tax Clearance Certificate in order to make a valid claim under this scheme.
• They must also be VAT compliant.
• They must not be entitled to make a claim under the CRSS Scheme in relation to any week that includes 1st September 2021 and the business must be actively trading, with the intention of continuing to do so.
• Those making a claim must register on ROS and file a declaration that they satisfy the necessary conditions to avail of BRSS.
• Please be aware that the names of BRSS claimants can be published on the Revenue’s website.

 

 

Stamp Duty measures for the cumulative purchase of ten or more residential properties

Section 13 of the Bill gives statutory effect to the Financial Resolution that was passed on 19th May 2021 and inserts section 31E in the SDCA 1999, thereby imposing a 10% stamp duty rate on the acquisition of certain residential properties (houses and duplexes but excluding  apartments) where an aggregate of ten or more units is acquired during a twelve month period by a single corporate entity or individual.

Section 14 of the Bill introduces a provision which provides for an exemption from the new 10% rate of stamp duty in situations where the residential units are leased to local authorities for certain social housing purposes.

 

 

Tax Debt Warehousing

Section 7 of the the Finance (COVID-19 and Miscellaneous Provisions) Bill 2021 inserts a new section 28D into the Emergency Measures in the Public Interest (Covid-19) Act 2020 which provides for the warehousing of EWSS overpayments received by employers.

Sections 8, 9 ,10, 11 and 12 of the Bill give effect to the extension of the Debt Warehousing Scheme for refunds of Temporary Wage Subsidy Scheme (TWSS) payments, Employer PAYE liabilities, Income Tax, VAT and PRSI:

 

This scheme will have three periods:

• Period 1 (the “Covid-19 restricted trading phase”) will run from 1st July 2020 to 31st December 2021.
• Period 2 (the “zero interest phase”) – will run from 1st January 2022 until 31st December 2022.  No interest will be levied on warehoused EWSS tax from Period 1.
• Period 3 (the “reduced interest phase) –will run from 1st January 2023 until the relevant tax is repaid to Revenue. interest will be levied at a rate of 3% per annum on the Period 1 warehoused relevant tax, from 1st January 2023.

In circumstances where an employer does not meet the conditions for debt warehousing then (i) the zero interest and (ii) reduced interest rates will no longer apply.  Instead the 8% rate will be imposed.

 

In summary, the extension of the Debt Warehousing Scheme relates to refunds of Temporary Wage Subsidy Scheme (TWSS) payments, PAYE, Income Tax, VAT and PRSI.

 

 

 

For full and complete information, please follow the link: https://data.oireachtas.ie/ie/oireachtas/bill/2021/89/eng/initiated/b8921d.pdf

 

 

 

lease 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.

 

 

In Revenue’s most recent guidance material outlining how cryptocurrencies transactions should be treated for Irish tax purposes (under Income Tax, Capital Gains Tax, Corporation Tax, VAT and Payroll), they formed the view that no special tax rules are required.  For further information please click the link: https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-02/02-01-03.pdf

 

Cryptocurrencies are also known as virtual currencies and include the following:

• Bitcoin
• Ethereum
• Ripple
• Dash
• Litecoin

 

Ireland has its own cryptocurrency called “Irishcoin”.

 

 

One of the common questions arising is whether the profits or losses arising from cryptocurrency transactions are liable to Income Tax/Corporation Tax or if instead, they are subject to Capital Gains Tax.

 

In other words, it is important to keep in mind that there are different tax treatments for those trading in cryptocurrency and those investing in it.

 

If the cryptocurrency transactions are deemed to a trading activity then the profits are subject to Income Tax/Corporation Tax.  Capital Gains Tax, however, applies to gains arising from the disposal of cryptocurrency which is held as an investment.

 

 

Trading activity or investment?

 

This answer is determined by reference to what are known as the “Badges of Trade” as well as to related case law.

 

The ‘Badges of Trade’ are a set of indicators to decide if an activity is a trading or an investment activity and include the following:

 

1. The Subject Matter
2. Length of Ownership
3. Frequency of similar transaction
4. Supplementary work to enhance it or make it become more marketable
5. Circumstances for realisation

 

It is not essential that all the above “badges” be present for a trade to exist. When you examine all the badges present in the context of the activity carried out then it’s possible to ascertain if you are carrying out a trade in cryptocurrencies or investing in them.

 

Another way to look at this is to consider whether you are a passive or an active investor.

 

If you make a one-off purchase of a few coins that you retain in the hope the value increases then it would be fair to say you are a passive investor and any gain arising in the case of an individual, would be liable to Capital Gains Tax at 33% after offsetting any prior year and current year capital losses less the individual’s personal CGT exemption of €1,270.

 

If, however, there are multiple transactions taking place on a frequent basis, with a high level of organisation and a commercial motive (i.e. the aim of buying and selling the coins is to create/optimise profit) then it would be reasonable to consider yourself an active trader and any profits arising would be liable to Income Tax / Corporation Tax.  For example, profits derived from crypto mining activities carried on by an individual or a company, would be treated as trading profits and liable to Income Tax/Corporation Tax.

 

It is essential, therefore, that this should be correctly established by each taxpayer, given their own specific set of circumstances, from the very beginning, to avoid any costly errors further down the line.

 

As with all tax issues, it is vital to establish the residence and domicile of the investor.  Depending on the location of the cryptocurrency exchange, gains arising for non-resident individuals may be outside the scope of Irish tax.  Individuals who are Irish resident but non domiciled may be able to available of the remittance basis of tax.

 

 

 

What about VAT?

 

The Revenue Commissioners consider cryptocurrencies to be ‘negotiable instruments’ and therefore exempt from VAT.  This treatment applies to companies and individuals buying and selling cryptocurrencies.  Mining activities are also considered to be outside the scope of Irish VAT.

 

Financial services consisting of the exchange of cryptocurrencies for traditional currency are exempt from VAT where the company performing the exchange acts as the principal.

 

Value Added Tax, however, is due from suppliers of goods or services sold in exchange for cryptocurrencies. The taxable amount for VAT purposes should be calculated in Euro at the time of the supply.

 

 

 

What about Payroll Taxes?

 

Where an employee’s wages and salaries are paid in a cryptocurrency, the value of these emoluments for the purposes of calculating payroll liabilities is the Euro amount attaching to that cryptocurrency at the time those payments are made to the employee.

 

The amounts contained in returns made to Revenue must be shown in Euro.

 

 

Finally, as crypto currencies are traded on a number of exchanges, a reasonable effort should always be made to use an appropriate valuation for the transaction in question.

 

 

 

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.

 

 

As you’re aware, Revenue’s PAYE Modernisation came into effect from 1st January 2019 to .  By operating in real time, every time an employer pays their employee through payroll, they must report the employee’s pay/salary/wage as well as the correct statutory deductions at the right time.  Through ‘My Account’, an employee can check if their employer has paid over the correct tax deductions to Revenue, thereby ensuring tax compliance and reducing the need for compliance interventions. This new system is aimed at reducing the occurrence of both the overpayment and underpayment of payroll taxes.  Following recent developments of the PAYE system,  employees and Proprietary Directors can now access details of their total pay and statutory deductions for 2019. They can also view their tax position for the year based on Revenue’s preliminary calculation.

 

 

New terminology and documentation have been introduced as follows:

1. The Employment Detail Summary replaces the P60 for 2019 and subsequent years. is the official record of an employee’s pay and statutory deductions for the year.
2. The Preliminary End of Year Statement is a calculation by Revenue of the employee or Proprietary Director’s income tax and USC liabilities for 2019 based on the payroll information submitted by employers throughout 2019.
3. The Statement of Liability replaces the P21 Balancing End of Year Statement.

 

 

You can access the record of your payroll details for 2019 as follows:

• Go to MyAccounts
• Click on the PAYE Services Screen
• Click on Employment Detail Summary
• Click on Review Your Tax 2016 – 2019

 

 

This summary of payroll information or proof of income can be downloaded or printed for you to retain or it provided to third parties as required.

 

 

To calculate whether you have underpaid, overpaid or paid the correct amount of income tax and USC for 2019 you can request a Preliminary End of Year Statement by

• Clicking on PAYE Services
• Clicking on Review Your Tax 2016 – 2019
• Clicking on Statement of Liability for 2019

 

 

If you have overpaid your taxes, based on the Revenue’s records, please be aware that the refund will not issue automatically.   You will need to file an Income Tax Return for 2019 to include (i) your total income, (ii) any allowable deductions and (iii) your tax credits so that Revenue has been provided with full and complete information necessary to calculate your tax position.

 

 

In order to file an Income Tax Return, you should:

• Go to MyAccount
• Click onto the pre-populated form for 2019
• Examine the information contained in the form to ensure it is correct
• Insert all relevant information that has not been included in this pre-populated form including dividend income, deposit interest, health expenses, etc.

 

 

Once you have submitted your Income Tax Return,  it will be processed by Revenue and a Statement of Liability will issue along with any refund due for the 2019 year of assessment.

 

 

The refund can be paid in two ways: (i) directly into your bank account or (ii) by cheque posted to your home address.  if you wish to have the refund transferred electronically, you must:

• Go to MyAccounts
• Click onto MyProfile
• Insert the BIC, IBAN and full name on the bank account in the relevant sections

 

 

If, however, the Preliminary End of Year Statement shows that you underpaid your taxes for the 2019 year of assessment, you must file an online Income Tax Return to include all relevant income, allowable deductions, tax credits, etc.  This can be done through MyAccount.  Once Revenue has processed the information, a Statement of Liability will issue.  This document will outline how any underpayment is be recovered.  Options include adjusting your tax credits and standard rate cut-off point over one or more years.

 

 

The Revenue Commissioners will write to taxpayers who have underpaid tax based on their preliminary calculations, requiring them to complete and file an Income Tax Return for 2019.

 

 

In circumstances where the taxpayer does not file a return, the Revenue Commissioners will write to them again, this time outlining how the underpayment is to be collected.

 

 

For further information, please click:

https://www.revenue.ie/en/online-services/support/software-developers/paye-modernisation-technical-overview.aspx

 

https://www.revenue.ie/en/employing-people/paye-modernisation/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.

 

As you’re aware in Budget 2018, a new tax initiative of a zero per cent rate of Benefit-in-Kind (BIK) on company owned electric vehicles, for a period of one year, was rolled out.   From 1st January to 31st December 2021 (i.e. for a three year period) there will be no Benefit in Kind charge on vehicles solely powered by electricity if the original market value is less than €50,000.  This is boost to many employees and Company Directors.

 

Please be aware this favourable treatment does not apply to hybrids.

 

In situations where the open market value of the vehicle is greater than €50,000 the excess will be liable to tax as a Benefit in Kind.

 

Electric vehicles valued at in excess of €50,000 that were provided to the employee between 1st January 2017 and 9th October 2018 continue to be exempt from a BIK charge.  Please keep in mind, however, that this exemption could be affected if the electric car which was provided to the original user  between 1st January 2017 and 9th October 2018 is subsequently provided to a new user.

 

 

 

For further information, please follow this link:

https://www.revenue.ie/en/employing-people/benefit-in-kind-for-employers/private-use-of-company-cars/exemptions.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 have been two updates to SARP legislation in the most recent Finance Act.  The Special Assignee Relief Programme is an Income Tax Relief aimed at employees who move to Ireland with their employer or with an associated company.  By way of background, SARP was first introduced in 2012. Where certain qualifying criteria are met, the assignee or secondee is entitled to a 30% deduction from employment income over €75,000.  Although this is an Income Tax Relief, the exemption does not extend to Universal Social Charge (USC) and PRSI.  SARP be claimed for five consecutive years in two way: (a) through an individual’s annual self assessment Income Tax Return or (b) through the employer’s payroll.

 

 

Revenue’s guidance on Special Assignee Relief Programme (SARP) has been updated to take into account the recent changes introduced by Finance Act 2018:

 

1. Details of the cap of €1 million introduced from 1st January 2019 for the years 2019 (for new entrants only) and 2020 (for all claimants).

 

A cap has been reintroduced on the amount of the employment income to which SARP relief can apply.

 

The upper income threshold of €1 million will apply to any relevant employee who first arrives in Ireland on or after 1st January 2019.

 

For the tax year 2020, the upper income threshold will apply to all relevant employees.

 

2. Clarification regarding the requirement to file Form SARP 1A within the 90 day time limit

 

From 1st January 2019 the time limit for the submission of the form SARP 1A will be extended from within 30 days of the date the employee first arrives in Ireland to carry out his/her employment duties to 90 days.

 

 

 

 

For further information, please click on the following link:

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/income-and-employment/special-assignee-relief-programme/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.

 

The Minister for Finance, Public Expenditure and Reform Paschal Donohoe T.D. delivered Budget 2019 today, 9^th October 2018.   From 1st January 2019 there will be a considerable number of tax changes in relation to Business Tax, Income Tax, Employment Taxes, Property and Construction, VAT, Agricultural Sector and Capital Acquisitions Tax.

 

 

PERSONAL TAX

A number of changes aimed at easing the tax burden on low and middle income earners were announced in this year’s budget which include the following:

 

 

INCOME TAX

The income tax standard rate band will increase by €750 for a single earner.

 

This will raise the entry point to the 40% income tax rate

a)      from €34,550 to €35,300 for single earners and

b)      from €43,550 to €44,300 for married couples (with one earner).

 

The marginal rate of tax on income on earnings up to €70,044 per annum is now 48.5%.

 

The marginal rate of tax for those earning over €70,044 will remain at

a)      52% for employees and

b)      55% for self-employed individuals earning in excess of €100,000.

 

 

BENEFIT IN KIND

The 0% rate on BIK on electric cars has been extended to 2021 subject to a €50,000 cap in car value.

 

 

UNIVERSAL SOCIAL CHARGE

There will be a reduction in the third band of USC from 4.75% to 4.5%.

There will be an increase of €502 in the existing lower band of USC. This is worth a maximum of €139 per annum.   In other words, the band to which the 2% USC rate applies will be increased from €19,372 to €19,874.

 

 

TAX CREDITS

There will be a €200 increase in the Earned Income Credit for the Self Employed from €1,150 to €1,350.

There will be a €300 increase in the home carer credit from €1,200 to €1,500.   This credit can be claimed by a jointly assessed couple where one spouse/civil partner works in the home to care for children or other dependents, as defined.

 

 

PRSI

The weekly income threshold for the higher rate of employer’s PRSI will be increase from €376 per week (€19,552 per annum) to €386 per week (€20,072 per annum).

There will be a 0.1% increase in employers’ PRSI in 2019 from 10.85% to 10.95% and from 10.95 to 11.05% in 2020.

 

The National Training Fund Levy will increase from 0.8% to 0.9% from 1^st January 2019. The levy forms part of employer’s PRSI for Class A and Class H employments.

 

 

 

BUSINESS TAX

The corporate rate remains at 12.5%, as expected. A number of Business Tax Reliefs were amended as follows:

 

Key Employee Engagement Programme (KEEP)

There are Increases to the KEEP scheme. The scheme provides for tax relief for certain share remuneration provided to key employees by unquoted SMEs. The three separate amendments are as follows:

1. The ceiling on the maximum annual market value of shares that can be awarded must equate to the full amount of the employee’s salary.
2. A replacement of the three-year limit with a lifetime limit.
3. An increase in the value of shares granted under the scheme from €250,000 to €300,000.

 

Further clarification on these measures is expected in the forthcoming Finance Bill.

 

 

Film Relief

Film relief which was due to expire at the end of 2020, has been extended until 2024.

 

 

Three Year Start Up relief

The Start up Relief from corporation tax has been extended until end of 2021.

 

 

Controlled Foreign Company (CFC) rules

Controlled foreign corporation rules are to take effect from 1^st Jan 2019.

 

 

Capital Gains Tax Exit Tax

CGT Exit Tax at 12½% is to apply from midnight on 9th October 2018 for companies ceasing to be Irish tax resident on any unrealised capital gains arising as well as in situations where the company transfers assets out the State.  This new exit tax regime is to ensure compliance with the EU Anti-Tax Avoidance Directive (ATAD) by 1^st January 2020.

 

 

 

AGRICULTURAL SECTOR

 

Income averaging

The Minister has proposed removing the restriction on income averaging for farmers with income from a non-farming source.

 

The current situation is that where a farmer or his/her spouse

a)      carries out another trade or profession or

b)      owns more than 25% of the share capital of a trading company

then they cannot avail of the income averaging provisions.

 

 

Stamp Duty Relief for Young Trained Farmers

The Young Trained Farmer Stamp Duty Relief which was due to expire at the end of 2018 will be extended for a further three years to 31^st December 2021.

 

 

Stock Relief

The current stock relief measures will be extended for a further 3 years up to and including 31^st  December 2021.

 

 

 

PROPERTY TAX

 

Interest relief for landlords

Interest relief on loans used to purchase, improve or repair a rental property will be increased from 85% in 2018 to 100% in 2019.

 

 

Review of local property tax

Any future changes will be moderate and affordable.

 

 

 

 

INDIRECT TAX

The Minister confirmed that the reduced 9% VAT rate which applies to certain tourism activities will be increased 13½% from 1^st January 2019.

 

The 9% VAT rate which applies to the provision of facilities for taking part in sporting activities is being retained.

 

The 9% VAT rate which applies to certain printed matter  will also be retained, e.g. newspapers

 

The VAT rate on e-books and electronically supplied newspapers will be reduced from 23% to 9% with effect from 1^st January 2019.

 

 

 

 

CAPITAL ACQUISITIONS TAX

 

CAT Threshold

The CAT Group A tax free threshold has been increased to €320,000 for gifts and inheritances received on or after 10^th October 2018.

Group A generally applies to gifts and inheritances from parents to their children.

 

 

 

Additional Measures

• The VRT relief available for hybrid vehicles including plug-in electric hybrids is being extended for one year i.e. until 31^st December 2019.
• A 1% VRT surcharge will apply to diesel engine passenger vehicles registered in Ireland from 1^st January 2019.  This VRT rate is being introduced across all VRT bands.
• Betting Duty on bets entered into by a bookmaker with an individual in Ireland will be increased from 1% to 2% effective from 1^st January 2019.
• From 1^st January 2019, the duty on commissions earned by betting exchanges or intermediaries which are used by persons in Ireland will be increased from 15% to 25%.
• The measure to allow accelerated capital allowances for employer provided fitness and childcare facilities, as introduced by Finance Bill 2017, will now take effect from 1^st January 2019.
• An accelerated capital allowances scheme will be introduced for refuelling equipment and gas propelled vehicles.

 

 

 

 

For further information, please click:

https://www.oireachtas.ie/en/debates/debate/dail/2018-10-09/3/

 

https://www.gov.ie/en/department-of-public-expenditure-ndp-delivery-and-reform/collections/budget-2019/

 

 

 

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.

 

 

 

It’s very difficult to keep up to date with all the amendments to the Irish tax system so here is a summary of some of the employment tax changes to be mindful of in 2018:

 

 

1. Annual Membership Fees paid to a professional body (Revenue eBrief 04/18 published on 9^th January 2018)

 

The updated Revenue guidance notes allow an employee to claim a deduction for professional membership fees only in circumstances where:

1. There is a statutory requirement for that employee to be a member of a specific professional organisation or body or to hold a practicing certificate in order to carry out the duties of his/her employment or
2. In the absence of that professional membership or practicing certificate the individual cannot legally fulfill the full duties of his/her employment.

 

Where the employer pays the membership fee on the employee’s behalf and either of the above two conditions apply then no Benefit-in-Kind is deemed to have arisen.  Subsequently no payroll taxes will arise.

 

We would advise all employers to ensure the payment of professional membership fees on behalf of employees can be supported in the event of a Revenue Audit.

 

For further information, please follow the link: https://www.revenue.ie/en/tax-professionals/ebrief/2018/no-0042018.aspx

 

 

 

2. Increase in Employer’s Pay Related Social Insurance from 10.75% to 10.85% from 1^st January 2018.

 

 

 

 3. Benefit-in-Kind Exemption of Electric Vehicles for 2018. 

Finance Act 2017 introduced this exemption for electric vehicles which were available for private use for employees during the 2018 tax year.  It is not clear whether or not this scheme will be extended into 2019 which may result in a low uptake in purchasing electric vehicles by employers.

 

The exemption applies to cars and vans deriving their power from an electric motor.

 

It does not apply to hybrid vehicles.

 

 

 

 

4. PAYE Modernisation or Real Time Reporting

From 1^st January 2019 all employers will be required to accurately provide PAYE data to Revenue on a Real Time basis.

 

This effectively means:

• Revenue will be able to automatically review employees’ payroll information and immediately identify any discrepancies and errors.
• The PAYE information submitted to Revenue must be 100% correct.  In other words, the opportunity to amend errors at the end of the year has been eliminated.

 

For further information, please follow the link:

https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-892017.aspx

 

We would advise all employers to take the time, sooner rather than later, to ensure their payroll processes will be adequate to handle the increased obligations of the Real Time Reporting.

 

 

 

Here is a list of other relevant Revenue eBriefs:

 

Home Carer Tax Credit – Revenue eBrief No. 009/18 (29th January 2018) https://www.revenue.ie/en/tax-professionals/ebrief/2018/no-0092018.aspx

 

 

Change in Basis of Assessment – Schedule E – Revenue eBrief No. 127/17 (29th December 2017) https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-1272017.aspx

 

 

Taxation of payments to craft apprentices by Education and Training Boards –Revenue eBrief No. 126/17 (29 December 2017)

 

Benefit-in-Kind on use of Company Vans – Revenue eBrief No. 124/17 (28^th December 2017) https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-1242017.aspx

 

 

Exemption from Income Tax in respect of certain payments made under employment law – Revenue eBrief No. 118/17 (20th December 2017) https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-1182017.aspx

 

 

PAYE Services: Tax and Duty Manual Updates – Revenue eBrief No. 111/17 (01 December 2017) https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-1112017.aspx

 

 

Amendments to the Employment and Investment Incentive on 2^nd November 2017 – Revenue eBrief No. 99/17 (02 November 2017)
 https://www.revenue.ie/en/tax-professionals/ebrief/2017/no-992017.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.

 

 

Here is a brief list of relevant tax filing dates for those with pay and file obligations under Local Property Tax, Income Tax, Capital Gains Tax, Payroll Taxes, etc.

 

 

Deadline Date	Relevant Tax Obligations
10th January 2018	•  Payment of Local Property Tax for 2018
	•  Extended payment date to 21st March 2018 if payment made by SDA via ROS
31st January 2018	•  Payment of Capital Gains Tax for assets disposed of between 1st December
	and 31st December 2017
15th February 2018	•  Filing of 2017 P.35 and P.35L for Employers.
	•  Provision of P.60s to Employees
	•  Deadline date extended to 23rd February if filing via ROS
31st March 2018	• Deadline date for Husband / Wife / Spouse / Civil Partner to submit an election for
	change of assessment for 2018 using either Assessable Spouse or Nominated
	Civil Partner’s Election Form
31st October 2018	•  Filing 2017 Tax Return
	•  Payment of balance of 2017 Income Tax
	•  Payment of 2018 Preliminary Tax
	•  Filing of IT38 (i.e. Gift/Inheritance Tax) Returns for benefits taken between 1st
	September 2017 and 31st August 2018
	•  Payment of Pension Contributions for relief in the 2017 year of assessment
15th December 2018	•  Payment of Capital Gains Tax liability on gains arising between 1st January 2018 to
	30th November 2018
31st December 2018	•  Final Date for the submission of a Repayment Claim for 2014 year of assessment

 

 

 

 

 

For useful Pay & File Tips please click: https://www.revenue.ie/en/online-services/services/ros/ros-help/popular-ros-services/pay-and-file/index.aspx

 

 

 

 

For further information on tax deadline dates and to discuss your tax obligations with a qualified Chartered Tax Advisors, 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.