Latest Irish Tax News
The ITAS Accounting blog brings you the latest Irish tax news and finance news, including the latest Revenue updates, amendments to legislation, tax deadline reminders, tax tips, business tips and more.
Unlocking Tax Savings: Your Comprehensive Guide to Reducing your Tax Bill
As the Income Tax Return deadline approaches this October, many individuals find themselves facing the prospect of taxes owed to Revenue. But fear not! In this informative blog series, we delve into a variety of strategies and opportunities to empower you in...
Minimum Wage Increase 2020
As of 1st February, as set out in the National Minimum Wage Order 2020, Ireland’s minimum wage has increased to €10.10 per hour or part thereof, based on age of employee. Source citizensinformation.ie Calculating hourly rate As stated in the National Minimum Wage...
Short Term Rental & Airbnb Review
Revenue have issued a review in regard to short term leasing from January 2020. Revenue have now defined that; Income for providing short term accommodation for occasional visitors such as through an online accommodation booking system is not considered rental income...
Home Renovation Incentive
The Home Renovation Incentive Scheme (HRI) was implemented in October 2013 and was originally available for homeowners to apply until 31st December 2015. Subsequently, the scheme was extended in December 2014 to include all homeowners, including landlords and finished...
Pay & File Deadline Extension for Self-Assessed
The deadline for all self-assessed individuals to file their Form 11 tax return & submit payment has been extended, Revenue have announced. Clients that file their 2019 Form 11 return and pay the following; Preliminary Tax due for 2020Income Tax Balance for 2019...
Did you recently get married? It may pay to let Revenue know!
Once you are married, it may be worth contacting your local tax office to advise them, as you may be due a tax refund! In the year of marriage, both partners are treated as single people, if the result of your assessment as single people is greater than the tax you...
Flat Rate Expenses
Do you qualify for Flat Rate Expenses in relation to your profession? Flat Rate Expenses are employment expenses claimable depending on the profession you are in. To ensure you claim this entitlement if available to you, check out Revenue’s list of qualifying...
PAYE Modernisation (P60 Replacement)
PAYE Modernisation Since the start of 2019, your income and statutory deductions are submitted to Revenue each time you are paid. Under PAYE Modernisation, employers no longer provide a Form P60. Instead, from January 2020 you will be able to view, download or print...
Flat Rate Expenses ‘U-Turn’
As reported in the independent.ie on 05th December, it appears the Government are about to do a U-turn on abolishing or reducing flat rate expenses for nearly 600,000 employees Flat rate expenses are to cover work-related expenses and as we previously advised, Revenue...
Capital Gains Tax Deadline – 15th December
Have you sold, gifted or transferred any assets between 1st January – 30th November 2019? If Capital Gains Tax (CGT) is due on these, this must be paid by 15th December 2019 Payment deadlines for CGT are as follows: Disposals between 1st January & 30th November...
Flat Rate Expenses to be abolished from 2020
Do you qualify for Flat Rate Expenses in relation to your profession? Flat Rate Expenses are employment expenses claimable depending on the profession you are in. Revenue have undertaken a review of these and despite opposition from many trade unions they will be...