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Increased size limits for Irish companies signed from 1st July 2024
Increased Size Thresholds to benefit Irish SME’s with Audit & Reporting Requirements The EU has updated the size criteria for companies and groups, increasing the balance sheet and turnover limits by 25% to account for inflation. This will help more Irish companies qualify as “micro” or “small” and benefit from simpler reporting and audit exemptions, […]
CAT loans from close relatives – New Tax Filing Requirement from 2024
Close Relative Loans – How will this effect me? With effect from 1 January 2024 a new mandatory Capital Acquisitions Tax (CAT) reporting obligation is imposed on the recipients of certain loans from close relatives. This applies irrespective of whether any tax is due or not and is applicable to both new loans made from […]
Revenue Compliance Check or Audit
Revenue Complaince Checks or Audits – Steps to take Revenue Intervention Summary Lately, more businesses are getting random compliance check letters from Revenue. But what is a Revenue audit or compliance check, and how can you get ready for it? Why Me? There are three main reasons why you may have been chosen. 1. Random […]
Non-Domestic Microgen Grant
Non-Domestic Microgen Grant Receive government grant aid towards the installation of solar panels. Why Solar? Solar panels that generate electricity are called solar photovoltaic (PV) modules. They convert sunlight into electricity. The benefits include: Lower Electricity Bills: Generate your own electricity and reduce your energy costs. Sustainability: Show your dedication to using renewable energy and […]
Retirement relief upper age limit extended to 70
As a Business Owner, Is Time Escaping You? If a person incurs a capital gain on retirement (typically from selling their shares in their business) they may avail of relief up to €750,000 and pay no Capital Gains Tax. Planning on retiring or selling your business? If a person incurs a capital gain on retirement […]
Angel investors are entitled to reduced CGT
New angel investor relief Under the Finance Act 2023, angel investors can now benefit from lower Capital Gains Tax (CGT) rates when they invest in small and medium-sized enterprises (SMEs). Here’s a simplified overview of the key points and eligibility requirements: Angel Investors: These are private individuals or groups who provide capital for startups, particularly […]
May 1st Deadline coming soon
Two deadlines coming up on the 1st May 2024. 1. Increased Cost of Business grant? <— Click Here to visit our step by step guide to assist you with this simple process. 2. Revenue Debt Warehousding Scheme <— Click Here to visit our update on this scheme where you can spread your warehoused debt with […]
As a Business Owner, Is Time Escaping You?
As a Business Owner, Is Time Escaping You? In the swiftly evolving landscape of business, where profitability and being on top of your numbers stand as pivotal benchmarks for success. Many business owners find themselves ensnared in the quicksand of time management, unable to make the desired progress they should be making. However, the solution […]
Increased Cost of Business (ICOB) Grant Scheme
How to Get your grant up to €5,000? To qualify for this grant, your business must be located in a place that can be taxed by your local government. You also need to be up to date with your local tax payments. Here’s how the grant works: If your business’s local tax bill for 2023 […]
Share Option Changes in 2024 – Important Information for Employers
Share Option Changes in 2024: Key Information for Employers From 1 January 2024, Revenue require employers to withhold Irish payroll taxes from gains arising on the exercise of share options. This will be a significant change, as up to now, the responsibility was on employees (and directors) to pay the “Relevant Tax on Share Options” […]
