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Irish Accounts Blog

Surcharge arising where LPT Return not filed by Chargeable Persons

Amid much publicity and fanfare the Local Property Tax (LPT) was introduced into Ireland and the LPT return was due to be filed on 7 May 2013 and 7 November for subsequent years. For those people who have not filed their LPT return the following sanctions are imposed. Mandatory deduction from your employment income, occupational […]

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JobPlus Initiative- Department of Social Protection Announces a new scheme to recruit staff

What is the JobsPlus Incentive? JobsPlus Incentive is a new employer Incentive which encourages and rewards employers who offer employment opportunities to the long term unemployed. This Incentive will replace the Revenue Job Assist and Employer Job (PRSI) Exemption Scheme from 1st July 2013. Regular cash payments will be made to qualifying employers to offset […]

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Subcontracts and Relevant Contracts Tax in a nutshell

An area which always seems to be topical is Relevant Contracts Tax (RCT). It can appear that some transactions which are appear to be connected with construction are subject to RCT and some other transactions can appear to be caught by RCT which do not appear construction related at all. Essentially in order for a […]

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Procedure for transfering shares in a Limited Company

In a company that is limited by shares the procedure for transferring a shareholding can appear complicated but is in straight forward provided all of the steps are followed. Firstly, whether or not a person is a member of a company is determined by what it says in the company’s various register of members. When […]

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Why form and Irish Subsidiary Company?

What are the advantages of UK Companies forming an Irish Subsidiary? 1) Irish Companies are subject to Corporation Tax at 12.5%. This is a very competitive rate compared to various other jurisdictions throughout the EU. 2) An Irish Company that makes a distribution to it’s UK parent company, is said to have made a Franked […]

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Revenue to persue non-filers of Corporation Tax returns.

The due date for filing the Corporation Tax return 2011 has now passed. Reminder letters have recently issued to the Secretaries of companies whose Corporation Tax returns for 2011 have not been recorded as filed by close of business on Friday 25 January 2013. Customers are advised to complete and file the outstanding returns by […]

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VAT Invoicing – New Rules as from 1 January 2013

The European Union (Value-Added Tax) Regulations 2012 (S.I. 354 of 2012) and the Value-Added Tax (Amendment) Regulations 2012 (S.I. 458 of 2012) transpose into Irish law, Council Directive 2010/45/EU of 13 July 2010. The new legislation simplifies, modernises and harmonises the VAT invoicing rules and in particular eliminates the current barriers to e-invoicing. Paper and […]

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New service that Irish Accounts may offer to clients

New service that Irish Accounts may offer to clients In accordance with the Code of Conduct on Mortgage Arrears, MARP process,  banks offering certain mortgage forbearance arrangements to distressed mortgage holders are required to advise the borrower to seek independent advice on the banks proposals. The Minister for Social Protection have decided that this advice […]

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