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.
Understanding Recent Changes to the Irish State Pension
As an accountant, it's crucial to stay updated on changes that affect our clients' financial futures. One such change impacting retirement planning in Ireland is the revision to State Pension regulations, with significant adjustments starting from January 2024. The...
Pandemic Special Recognition Payment to frontline healthcare workers
Recently, the Government announced and agreed a recognition payment of €1,000 to be made to all frontline healthcare workers, to recognise their role during the pandemic. So, who does this apply to? Frontline Healthcare workers (including agency staff working for the...
9% Reduced VAT rate set to be extended
In 2020, the hospitality sector received a welcome boost with a reduced VAT rate of 9% to assist due to significant losses incurred during the pandemic. The 9% rate applies to supplies of goods and services in the tourism and hospitality sector and also includes...
Landlords to register all tenancies with the RTB
As of 4th April 2022, landlords must register their tenancies with the Residential Tenancies Board (RTB) every year. This must be completed within one month of the tenancy commencing or it’s anniversary. The aim is to effectively regulate the rental sector. How do I...
Lottery Income Scheme for Artists
A new income support for up to 2,000 artists was launched today by the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media. The Basic Income for the Arts pilot income scheme will see up to 2,000 artists receive €325 per week, paid monthly and is subject...
Overdue Local Property Tax Returns
To date, there are over 300,000 homeowners with overdue Local Property Tax Returns. The Local Property Tax return was due by 1st November 2021 for the valuation period 2022-2025. Revenue will be contacting these homeowners over the coming weeks to submit their return....
What is the difference between an accountant and a bookkeeper?
The roles of accountants and bookkeepers regularly over overlap and can seem quite similar but there are important differences when deciding what professional is right for your business. Bookkeepers Bookkeepers organise and record all businesses financial transactions...
Setting up a Company in Ireland
In this scenario, we look at a company looking to set up in Ireland from abroad. A company may look to set up in Ireland to access the EU market and to avail of our 12.5% corporation rate, but what do they need to consider before doing so? Filings The company needs to...
PAYE taxpayers to claim their entitlements before 31 December Deadline
As you may be aware, there is a four-year time limit on claiming tax back for medical expenses, tuition fees and for claiming tax credits/reliefs on for example, home carer’s credit. If you have a claim for 2017, you need to submit this by 31st December. Generally,...
Capital Gains Tax Deadline – 15th December 2021
Have you sold or transferred an asset between 1st December – 30th November 2021? If Capital Gains Tax (CGT) is due on these, this must be paid by 15th December 2021 For disposals made in December, CGT is due by 31st January 2022. Some exemptions do apply, which...
€500 Small Benefit Exemption
As with previous years, employers can issue one voucher/gift card to an employee up to the maximum value of €500. This is a tax-free payment subject to certain conditions. The small benefit exemption is allowable as a once off payment each year and this benefit cannot...