// The Company law review group (CLRG) has published the first of two volumes setting out a new regime for private companys limited by shares in Ireland. The second volume will deal with all other types of companies and this will be published within the next 12 months. Instead of having just one set of [...]
// 1. New RCT system to be introduced in 2012 Work is well advanced on developing a new system, which is expected to be introduced on 1st January 2012. It will be subject to a commencement order to be signed by the Minister for Finance. From 1st January 2012, all relevant contracts, including those that are [...]
// The Minister for Finance announced the Government’s 2011 Jobs Initiative on 10th May. The initiative includes a number of measures aimed at stimulating job creation, and also details of how they propose to fund the incentives – mainly in the form a new pension fund levy. The main points are as follows; The Minister [...]
// As of April 1st, the Multi-Unit Developments Act 2011 (“MUDs Act”) has been commenced in its entirety. An Owner Management Company can now be restored to the registrar of companies within 6 years of it dissolution using the new form H1-OMC. An OMC that is within 12 months of its dissolution may file Form [...]
// Voluntary Strike off of an Irish Company is an administrative procedure operated at the discretion of the Registrar of Companies in which a director of a company can apply to have their company voluntarily struck off. Before this can happen the director needs to Obtain a letter of no objection from the revenue. Ensure [...]
// Share based remuneration is becoming increasingly popular where work is done in anticipation of the company becoming profitable in the future. Share Awards From 1 January 2011, shares awards have been brought within the PAYE collection system. The net value of any shares awarded are to be treated as notional pay at the time [...]
// Revenue have announced an extension to the return filing and tax payment date for self-assessment income tax customers using the Revenue On-Line Service (ROS). For customers who file the 2010 Form 11 return and make the appropriate payment through ROS for: Preliminary Tax for 2011, Income Tax balance due for 2010, the due date [...]
// The revenue have clarified the position for employers and employees in respect of BIK on professional subscriptions. Up to 31 December 2010, the payment or reimbursement of an annual membership fee of a professional body, on behalf of an employee, by an employer did not give rise to a taxable benefit-in-kind if membership of [...]