- Inheritance Tax Changes – UK Taxes – 2025 March 3, 2025 - The 2024 Autumn Budget announced a series of changes to UK Inheritance Tax. As you’re aware, in the UK, Inheritance Tax is a tax payable on the value of a deceased person’s estate. This differs to Irish Capital Acquisitions Tax where the beneficiary pays CAT on gifts and/or inheritances. Current Rules Currently, […]
- Inheritance Tax Changes – UK IHT – Tax Reliefs February 3, 2025 - The UK Autumn Budget 2024 announced changes to the current Agricultural and Business Property Inheritance Tax regimes. From 6th April 2026, the combined Agricultural Property Relief and Business Property Relief will be restricted to the first £1 million on “qualifying assets.” The Chancellor of the Exchequer delivered her Budget on 30th October 2024, announcing […]
- Revenue Income Tax & Corporation Tax non-filer Programme January 31, 2025 - 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 […]
- Residential Zoned Land Tax (RZLT) – ROS Portal January 23, 2025 - As you already know, Residential Zoned Land Tax (RZLT) was introduced by Finance Act 2021. In case you didn’t, it’s an annual self-assessment tax calculated at 3% of the market value of applicable land, with pay and file obligations levied on the landowners. While it was first introduced in 2022, the first year that […]
- IMPORTANT TAX DATES – JANUARY 2025 – IRELAND December 29, 2024 - 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, […]
- Business Taxes – Autumn Budget 2024 – UK October 30, 2024 - Today, 30th October 2024, the Chancellor of the Exchequer, Rachel Reeves, delivered the UK Autumn Budget. She announced the publication of the Corporation Tax Roadmap. In it, she confirmed that there would be no change to the current corporation tax rate, which is capped at 25%, until 31st March 2027. The Small Profits […]
- Pensions Auto-Enrolment Scheme – Ireland October 7, 2024 - Today, 7th October 2024, the Minister for Social Protection announced that the pensions auto-enrolment scheme will commence on 30th September 2025. From that date, employers must automatically enroll eligible workers into a workplace pension scheme, as part of a Government initiative, aimed at boosting retirement savings. This government retirement savings system is for employees […]
- BUDGET IRELAND 2025 – Business Taxes October 1, 2024 - The Minister for Finance Jack Chambers published his first Budget today announcing a number of changes to our corporate tax regime. A raft of tax measures and policies will be introduced to support Irish start-ups, small and medium-sized enterprises (SMEs) and multinational businesses. Budget 2025 provided for a total budget package of €10.5b Our […]
- BUDGET IRELAND 2025 – Taxes in relation to Property October 1, 2024 - 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. […]
- 2025 Budget – Ireland – Personal Tax October 1, 2024 - Understand the Income Tax measures of Budget 2025 at a glance. Today, the Minister for Finance, Jack Chambers T.D., and the Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe T.D., announced the details Budget 2025. As anticipated, Budget 2025 introduced several tax measures affecting individuals, families and households. This article […]
- UK TAX – 31st January 2025 Self-Assessment Tax Return Deadline September 15, 2024 - 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 […]
- FORM 11 TAX RETURN PREPARATION – IRELAND September 1, 2024 - The Income Tax Return filing deadline is 31st October 2024. That deadline date is extended to 14th 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 […]
- Income Tax Return Deadline 2024 – Ireland August 31, 2024 - As you’re aware, the Income Tax / self-assessment Tax Return filing deadline is 31st October 2024. There is an extension to 14th November 2024 providing you file both (i) your 2023 Income Tax Return and (ii) the Income Tax Balance due for 2023 as well as your 2024 Preliminary Tax payments though ROS. […]
- Changes to Company Size Criteria and Abridgement Exemptions June 19, 2024 - Introduction Today the Minister for Enterprise, Trade and Employment, Peter Burke TD, signed into law the “European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024.” This resulted in increases in the balance sheet and turnover thresholds for ‘micro’, ‘small’, ‘medium’ and ‘large’ companies in the Companies Act 2014 by […]
- Employee or Self Employed – New Irish Revenue Guidance May 21, 2024 - As Accountants, Personal Tax Advisors and Payroll Tax Consultants, the distinction between what constitutes an employee and what are the requirements to be considered a self employed contractor has occupied our minds for many years. It is often very difficult to determine with complete accuracy whether an individual has been employed under a contract […]
- Increased Cost of Business Grant Scheme – Ireland May 15, 2024 - As part of Budget 2024, the government signed off on a package of €257 million for the Increased Cost of Business Grant Scheme. The main aim of this Grant is to support small and medium sized businesses by contributing towards their rising business related costs including energy, labour, rent, etc. In order to […]
- UK Taxes – Furnished Holiday Lettings tax regime abolished from 6th April 2025 March 6, 2024 - The Chancellor of the Exchequer, Jeremy Hunt delivered his UK Spring Budget 2024 today. As you are aware, the Furnished Holiday Letting (FHL) regime provides UK Tax relief for property owners letting out furnished properties as short term holiday accommodations. From 6th April 2025, however, the Chancellor is removing this tax incentive in […]
- CAT loans from Close Relatives – Mandatory Tax Filing January 1, 2024 - Introduction With effect from today, Capital Acquisitions Tax (CAT) rules have changed. A new mandatory Capital Acquisitions Tax filing obligation is imposed on a person in receipt of a gift in respect of certain loans from close relatives. An interest-free loan is a gift on which Capital Acquisitions Tax must be calculated and any […]
- Taxes on Corporate Income – Pillar Two – Ireland December 31, 2023 - Briefly, the Pillar Two rules include an Income Inclusion Rule and an Undertaxed Profits Rule . The Pillar Two rules provide that the income of large corporate groups is taxed at a minimum effective rate of 15% in all the jurisdictions in which they operate. The Pillar Two rules will have no effect for […]
- New Angel Investor Relief – Capital Gains Tax Relief December 18, 2023 - Finance (No. 2) Act 2023 introduced a new Capital Gains Tax relief – “Relief for Investment in Innovative Enterprises” or Angel Investor Relief. Its objective is to encourage investment in innovative small and medium start-up businesses entities. Please be aware, however, that not all types of angel investments qualify for the new relief. […]
