Receiving notification of a Revenue Audit or Investigation into your tax affairs is an unpleasant shock at the best of times. For many taxpayers, the jargon and legislation used by […]
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Tax Tips for SMEs
Tax Tip: Employee Expenses
If your employees or directors travel for business purposes then they are entitled to be reimbursed for travel and subsistence costs incurred. Under Revenue rules you can repay your employees […]
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Tax Tip: Share Options
Incentivise your key employees by granting them share options under the Key Employee Engagement Programme (KEEP). KEEP is intended to help SMEs that carry on certain types of trade attract […]
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Tax Tip: CAT reduction
If you can’t avoid a CGT charge on a transfer of an asset to a family member, don’t despair. The person to whom you transfer the asset may claim a […]
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Tax Tip: Family Retirement Relief
If you intend to transfer business assets to a family member be aware that you have a “window” between the ages of 55 and 65 during which to make the […]
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Tax Tip: 10% CGT
If you are disposing of either shares in a trading company or the assets of an unincorporated business look to avail of Entrepreneur Relief. By using it the first €1m […]
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Tax Tip: Tax Exempt Gains
If you or your company are holding land and buildings acquired between 7 December 2011 and 31 December 2014 gains from their disposal may be free of Capital Gains Tax. […]
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Tax Tip: Incorporation
If you are carrying on business as an unincorporated entity consider transferring your business to a company to avail of the low 12.5% corporate tax rate. Given Ireland’s favourable tax […]
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Tax Tip: Tax Free Gains
Have your company use the Participation Exemption to generate tax-free gains from the sale of shares that it owns in trading companies. Gains made on the disposal of certain shares are […]
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Tax Tip: Tax-Deductible Plant
Reduce your taxable profits by claiming capital allowances for all the plant in your building, whether the building is in use for a trade or is an investment asset. While […]
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Tax Tip: Raising Capital
If you need finance to expand your business then consider raising funds under the Enterprise Investment Incentive Scheme (EIIS). The EIIS is a tax relief that can be used by […]
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Tax Tip: Working Abroad
If you are expanding your business overseas then you should consider whether any of your employees could avail of the foreign earnings deduction. In order to claim the relief the employee […]
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