Archives for News

Finance leasing

Revenue have updated the Tax and Duty Manual in relation to finance leasing.  For further information, please click here.…
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PAYE (Employers) Compliance

Revenue have updated the Tax and Duty Manual to reflect an employer’s obligations under the commonly known PAYE Regulations.  For further information, please click here.…
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Mineral Oil Tax Carbon Charge

The Mineral Oil Tax Carbon Charge manual provides guidance for Revenue officers on the granting of authorisations to greenhouse gas permit holders.  For further information, please click here.…
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eRCT Bulk Rate Review

In early April 2018 Revenue will carry out its normal Bulk Rate Review (BRR) of all subcontractors in the eRCT system.  Further information can be found by clicking here.…
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Jobs and Pensions TDM Update

Revenue have updated the Tax and Duty Manual to provide information on agent access to the Jobs and Pensions service.  Further information can be found by clicking here.…
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VAT and Payment Services

Revenue have created a new Tax and Duty Manual in relation to the VAT treatment of payment services.  Further information can be found by clicking here. .…
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PAYE Modernisation – Employer Readiness

Based on the 2016 P35 Returns, Revenue is now contacting employers who do not appear to have informed them of new employees. This is in preparation of PAYE Modernisation.  Further information can be found by clicking here.…
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Guide to Exchange of Information

Revenue have updated the Tax and Duty Manual to include Automatic Exchange of Information provisions between Ireland and others.  Further information can be found by clicking here.…
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ROS Form 11 – 2016 Income Tax Return

The ROS Form 11 was updated on 17 June 2017 to reflect legislative changes in the Finance Act 2016 and is available since 1 January 2017, in both online and offline ROS facilities.   Further information can be found by clicking …
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Irish Real Estate Funds

The Tax and Duty Manual sets out the agreed administrative practice for the application of the Irish Real Estate Fund (‘IREF’) regime.  Further information can be found by clicking here.…
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Offshore Funds Regime

Revenue have updated two Tax and Duty Manuals to provide greater clarity on the operation of the offshore funds regime.  Further information can be found by clicking here.…
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Sunday Papers – 16th April 2017

Sunday Business Post The number of completed houses remains an uncertain statistic. The government continue to quote the number of completions at 14,932 last year, but this is based on electricity connections. When the number registered on the Building Control…
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Charitable Donations Scheme

The Tax and Duty Manual has been updated to include additional material on what happens when Revenue withdraw an authorisation from an eligible charity.  Further information can be found by clicking here.  …
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Sunday Papers – 9th April 2017

Sunday Business Post Tenants in two of the country’s largest shopping centres, Blanchardstown (owned by US private equity firm Blackstone) and Dundrum (owned by UK real estate business Hammerson and German insurer Allianz Real Estate), are likely to face rental…
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Help To Buy Scheme

Revenue have published a new Tax and Duty Manual in relation to the Help To Buy Scheme.   Further information can be found by clicking here.…
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Sunday Papers – 2nd April 2017

Sunday Business Post RSM has announced a merger with John Marks and Co. SurveyMonkey intends to grow its team from 48 to 60 at its Dublin HQ. Accumulated losses at Tralee fintech company Contiuum Commerce grew from €14.07m to €14.56m.…
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Sunday Papers – 26th March 2017

Sunday Business Post Red-C: First preference vote intention (March 2017) Fine Gael: 24% (-) Fianna Fáil: 26% (-) Sinn Féin: 17% (-2%) Ind: 13% (+3%) Labour: 6% (+2%) Independent Alliance: 3% (-) AAA: 4% (-2%) Social Dems: 3% (-) Green:…
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Non Principal Private Residence (NPPR) Charge

Revenue have updated the Tax and Duty Manual in relation to the recent decision of the High Court on the deductibility against rental profits of the Non Principal Private Residence charge (NPPR).  Further information can be found by clicking here
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Sunday Papers – 12th March 2017

Sunday Business Post Advisers on the sale of part of the government’s stake in AIB are expected to net €40m based on average deal fee rates of 1%-1.5% of the money raised. Bank of Ireland’s top 190 bankers received an…
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Sunday Papers – 5th March 2017

Sunday Business Post There is plenty written on the Northern election, Irish Water and the various political stances on the same. Over 730 solicitors and over 500k people have been written to regarding their lack of disclosure of offshore assets.…
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Sunday Papers – 26th February 2017

Further information can be found by clicking here. Revenue have updated the Tax and Duty Manual Sunday Business Post AIB is expected to announce its plans for its troubled mortgage book over the next week. The political pressure may…
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Sunday Papers – 19th February 2017

Business Post The Connect Ireland/IDA dispute continues with Connect Ireland seeking €7m from the IDA. There is a disagreement about how many jobs Connect Ireland has created through companies it brought to Ireland. Sarah Keane, the new CEO of Olympic…
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Opticians in Employment

The Tax and Duty Manual sets out the types of payments, made by optometrists and dispensing opticians in employment, which can be allowed as an expense deduction under section 114 of the Taxes Consolidation Act 1997.  Further information can be…
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Sunday Papers – 12th February 2017

Sunday Business Post There is still plenty on Brexit and Trump across the board. A Red C poll has indicated that 77% of Irish people are worried that Brexit will have a negative effect on the Irish economy, up 5%…
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Sunday Papers – 29th January 2017

Sunday Business Post The latest results from a Red C poll are as follows: Fianna Fáil 27% (+3%) Fine Gael 24% (-1%) Sinn Fein 14% (-2%) Inds 14% (+2%) AAA-PBP 4% (-1%) Ind Alliance 3%(-1%) Labour 5% (-) Soc Dems…
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Fisher Tax Credit

Revenue have updated the Tax and Duty Manual in relation to the Fisher Tax Credit which applies from 1 January 2017.  Further information can be found by clicking here.…
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Sunday Papers – 22nd January 2017

Sunday Business Post There is plenty on Trump, Martin McGuiness’ resignation and the Northern Ireland political situation. The Business Post reveals that a pool of 250 Bus Éireann drivers out of 1,359 “is kept in reserve in garages around the…
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Sunday Papers – 15th January 2017

Sunday Business Post The HSE’s director general Tony O’Brien claims that the health service requires a capital injection of €9bn to end the overcrowding problems. There is also an interview with him. “Temple Road in the Dartry area has overtaken…
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Sunday Papers – 8th January 2017

Sunday Business Post A trust controlled by Dermot Desmond’s family has bought a mansion on Shrewsbury Road in Dublin 4. The property was formerly owned by Sean Dunne who held it in trust for his wife before it was sold…
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Sunday Papers – 1st January 2017

Sunday Business Post (January 1st) There is plenty of speculation around various topics such as the effect of Trump, the triggering of Article 50 and Brexit, European elections, Ireland’s tax policy, the full flotation of AIB , relations with the…
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Synopsis of Business Pages – Christmas Edition

Business Post Head of the Catholic Church in Ireland, Archbishop Eamon Martin, reveals in an interview that the Church will run a massive campaign ahead of the next abortion referendum and that the Pope will be airing his opposition when…
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Sunday Papers – 18th December 2016

Sunday Business Post Minister for Public Expenditure Pascal Donohoe has said that the value of pensions of Public Sector workers will be factored into any negotiations and that previous benchmarking exercises ignored this lucrative value. He has a good quote…
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Sunday Papers – 11th December 2016

Sunday Business Post Facebook is on the hunt for a new HQ in Dublin and has appointed DTZ to find it 110,000 sq. ft. as it plans to add 1,000 new jobs in Dublin. Facebook currently employs c.1,600 in Ireland,…
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Sunday Papers – 4th December 2016

Sunday Business Post The Revenue Commissioners are working closely with the EU and are going through any case that might have been given exceptional treatment or referred to internally as “tax opinions”. Around 100 such “opinions” are issued every year.…
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Sunday Papers – 27th November 2016

Central Bank Mortgage Rules The Business Post’s intelligence suggests that the first-time buyers’ grant of €20k may be scrapped in light of the reduction of the requirement to have a 20% deposit rule on houses over €220k to a flat…
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Sunday Papers – 20th November 2016

Sunday Business Post Jim Mansfield Jnr is interviewed in the Business Post and claims conspiracy theories linking him and his family’s business to money laundering, drug gangs etc. have damaged their reputation and all without foundation. After numerous raids, the…
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Sunday Papers – 13th November 2016

Sunday Business Post There is plenty of analysis on what Trump means for Europe and Ireland across all the papers. Minister for Health Simon Harris has instigated an investigation into payments big pharma companies give to doctors and public hospitals,…
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Sunday Papers – 6th November 2016

Sunday Business Post There is lots on Garda pay and the consequences for public sector pay across the board. Clinton and Trump get plenty of column inches. Bookmaker odds suggest the probabilities are 74% for Clinton to get in, 23%…
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Jobs and Pensions Service

Jobs and Pensions is Revenue’s new online service which allows employees and private pension recipients to register certain new jobs or private pensions with Revenue.  For further information, please click here.…
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Sunday Papers – 30th October 2016

Sunday Business Post Latest Business Post / Red C poll on political party support: Fianna Fáil – 26% (-1%) Fine Gael – 25% (no change) Sinn Féin – 13% (-2%) Independents – 10% (no change) AAA-PBP – 9% (+3%) Independent…
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Sunday Papers – 23rd October 2016

Sunday Business Post There is a tribute in the Business Post to Anthony Foley RIP. Questions are being raised on why NAMA sold a neighbouring site to the Abbey Theatre without seeking rival bids. Mike Flannery of Bartra is warning…
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Revenue Technical Services

The guidelines in relation to the Revenue Technical Services (RTS) have been updated to reflect the fact that any opinion issued by the RTS will have a maximum validity of 5 years. Further information can be found by clicking here
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Sunday Papers – 16th October 2016

Sunday Business Post There is a 32-page Budget review pull-out section in association with KPMG and there is also a lot written on the Budget in the main paper. David McWilliams is baffled by the measures introduced in the Budget…
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Budget 2017

For a summary of the main provisions of the Budget as announced by Minister Noonan and Minister Donohoe on 11th October 2016, please click here.…
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Sunday Papers – 9th October 2016

Business Post The upcoming Budget has been described as the “most complex” Budget, given the requirement of significant opposition buy-in. Some papers speculate that Fianna Fáil will not sanction. The noises from the articles today are positive for business. There…
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Sunday Papers – 2nd October 2016

Sunday Business Post There is plenty in the SBP on Donald Trump and also a few articles on him bringing Denis O’Brien’s relationship with the Clintons into the mix. Interestingly, Ian Kehoe says that, “Portions of what Trump said will…
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Repeal of EU Savings Directive

Revenue have updated the Tax & Duty Manual to reflect the current position in respect of the agreements to exchange EUSD equivalent information.  Further information can be found by clicking here.…
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Sunday Papers – 25th September 2016

Sunday Business Post Recent polls on political party support: Fianna Fáil at 27% (-2) Fine Gael at 25% (-1) Sinn Féin at 15% (+2) Labour at 7% (+1) Independents at 10% (+3) Other at 16% (-3) Pre-budget coverage and lobbying…
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Sunday Papers – 18th September 2016

Big Story of the Week NAMA is the big story this week and the sale of the Northern loan book in particular. It is also the big story today. Michael McDowell in Bus Post: “Try as it might NAMA can’t…
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Sunday Papers – 11th September 2016

Sunday Business Post Fianna Fáil and the Independents are putting big pressure for a wide scale state probe into the €1.6bn sale of NAMA’s Northern Irish loan book. The rising pressure for the probe is covered across the other papers…
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Sunday Papers – 4th September 2016

Sunday Business Post It’s all Apple, we will let you read the considered analysis yourselves across the various publications, including various suggestions that our Anglo-American economy does not belong in the EU block and the consequences for the current Government.…
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Sunday Papers – 28th August 2016

Sunday Business Post Pat Hickey et al account for pages and pages. Cerberus, Carval and Goldman Sachs have ramped up their receivership actions compared to last year. In the first eight months of this year, they accounted for 40% of…
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Sunday Papers – 21st August 2016

Sunday Business Post “The IBRC commission into the sale of Siteserv to the businessman Denis O’Brien is planning to review text messages sent between the various parties overseeing the transaction.” Sales of Sunday newspapers were down 6.3% in the first…
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2015 ROS Form 11

Revenue have updated the Income Tax, Capital Gains Tax and Corporation Tax Manual with regard to the revised version of the 2015 Form 11.  For further information, please click here.  …
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Sunday Papers – 14th August 2016

Business Post Larry Goodman looks set to buy €31m of shares from Jimmy Sheehan in the Galway Clinic, having bought 10% from Louth accountant Brendan McDonald recently. The most recent accounts for the Galway Clinic show profits of €12.8m.  This…
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Sunday Papers – 7th August 2016

Sunday Business Post Michael Smurfit is interviewed in the Business Post ahead of his 80th birthday. His advice to young people is, “I have always advised young people to be entrepreneurial if they can be and to take chances in…
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Sunday Papers – 31st July 2016

Sunday Business Post The Business Post has exposed that failure to enact legislation has resulted in a case where 300,000 public servants will receive bigger pensions than they were supposed to and will add to the annual €2.8bn public sector…
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Sunday Papers – 24th July 2016

Housing Plan 47k new social housing units are planned within five years. In 2015 only 74 local authority houses were built. Over 26k of these are planned to be built directly via local authority/housing bodies or Part V. 11k are…
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Sunday Papers – 17th July 2016

Sunday Business Post 57% of all voters and 48% of FG voters want Enda Kenny gone before the October budget. Fianna Fáil are topping the Red C polls at 29% (+3%) Fine Gael 26% (-) Sinn Féin 13% (-2%) Inds/others…
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Sunday Papers – 10th July 2016

Sunday Business Post Brexit In light of Michael Noonan’s downward revision of GDP growth from 4.3% to 3.4%, Ian Guider reflects on the Irish economy and whether or not Brexit can put a halt to our current economic bull run.…
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Sunday Papers – 3rd July 2016

Brexit Round Up The diagnosis of the Brexit hangover continues and will do for a long time yet. There continues to be more questions than answers. Quotes in the Business Post include: David McWilliams: “This is our golden opportunity” Michael…
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Sunday Papers – 26th June 2016

Brexit Brexit – what a shock. In the Business Post, David McWilliams is beating the drum that the ROI will have to get some of the investment that will be diverted from UK and turn a negative into a positive,…
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Sunday Papers – 19th June 2016

Business Post Brexit, Brexit, Brexit. This Thursday is the vote and Betfair’s exchange prices suggest it is 72%-28% in favour of the UK remaining in the EU. Credit insurance, specific measures for individual Irish counties with most exports to Britain,…
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Guidelines for Sheriff Enforcement

The Tax and Duty Manual have been amended with regard to the collection of any amount owing on a warrant issued by Revenue.  The period has been reduced from six months to three months.  Further information can be found by…
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Sunday Newspapers – 12th June 2016

Business Post There are plenty of column inches given to the Anglo/IL&P trial and Brexit. Latest Paddy Power odds on the referendum are: 2/5 Stay (68% chance) and 2/1 leave (32% chance). The Low Pay Commission is expected to deliver…
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Sunday Newspapers – 5th June 2016

Sunday Business Post As expected, Brexit dominates the papers. Paddy Power are quoting 9/4 to exit and 1/3 to stay. There was an implied 19% chance of exit this time last week according to Paddy Power, compared to 29% this…
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Sunday Newspapers – 29th May 2016

Sunday Business Post  Cerberus, Carval and Goldman are beginning to realise the loan books they bought and recover assets where loans are in default. Given the impaired loan books they bought, this was an inevitability and let’s hope they are…
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Aviation Services Facilities

This scheme provides for tax relief for qualifying expenditure incurred on the construction and refurbishment of buildings or structures in use for the purposes of aviation services facilities. The relief applies to buildings or structures in use for such operations…
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Restrictions on Income Tax Loss Relief

Revenue has issued a new Tax and Duty Manual which details the relief available for losses sustained by an individual in the course of a trade/profession and also sets out the various restrictions which can apply to such a loss.  …
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Leases of Farm Land for Solar Energy Development

Revenue have published a new Tax and Duty Manual to clarify the availability of tax relief under section 664 TCA in respect of leases of land to solar energy companies for the purpose of solar energy development on the land.  …
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Sunday Newspapers – 22nd May 2016

Business Post There is lots written about the Gardaí / Whistleblowers Saga. There are 7,995 vacant houses and 16,321 vacant apartments in Dublin city centre. There is a suggestion that an empty home tax might improve the supply of accommodation.…
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Rental Income

Revenue have recently updated the Tax and Duty Manual to reflect changes introduced by section 15 Finance Act 2015.  Further information can be found by clicking here.…
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Tax Treatment of Flight Crew Members

Revenue have amended the Tax and Duty Manual with regard to employment income arising to a flight crew member in respect of an employment exercised aboard an aircraft operated in international traffic where the place of effective management of the…
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Mandatory eRepayments

Revenue have just published information relating to refunds/repayments being paid electronically for taxes falling under current mandatory eFiling requirements.  Further information can be found by clicking here.…
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Construction Industry Seminar

– Pictured at the ‘Construction Sector – Recent Tax Developments’ seminar held at the Granville Hotel, Waterford is Jim Grant Managing Partner, MK Brazil.…
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