Entries by circulo

Relationship Breakdown: Tax Implications

Ireland has seen been both dramatic and welcome changes to the landscape of formalising and dissolving relationships over the last two decades. Among other things, we have seen a historical shift in modernising our tax code and moving it towards equality for all couples. We started the journey in 1995, with the divorce referendum passing […]

Accounting for undistributed income

A recent tax appeal case has highlighted the issues that the close service company surcharge can create for incorporated accountancy practices Irish tax legislation provides for a surcharge on the undistributed income of certain professional service companies that are ‘close companies’ – that is, a company that is under the control of five or fewer […]

Tax Rules Regarding Share Valuations

One of the trends among family businesses during the Covid-19 pandemic has been a renewed interest in succession planning. This interest has been sparked by business owners taking stock of their own personal circumstances and falling profitability in many businesses. Taxes arising from inter-generational transfer of assets are levied based on the market value of […]

Possibilities in uncertain times

The Covid-19 pandemic has resulted in the unusual spectre of the Government providing financial assistance to a large swathe of Irish businesses in order to keep their lights on. Whilst this period of Governmental generosity is viewed as an economic necessity, a large part of the cost of this financial assistance may ultimately have to […]

Domicile: what does it mean?

It is mandatory for taxpayers to include details of their residence, ordinary residence and domicile status as part of their personal details when filing their annual income tax return. The requirement to return domicile status was introduced in 2017. A taxpayer’s domicile can be a determining factor in whether an individual is liable to Irish […]

Amanda-Jayne Comyn joins the firm

Amanda-Jayne Comyn has joined the team at Circulo Tax Advisors. Amanda is a Barrister-at-law and a Chartered Tax Advisor (CTA).  She has extensive experience in the field of tax having worked in leading legal firms and large accountancy practices, mostly recently as a tax partner with Philip Lee and prior to that as tax director with Grant Thornton.