Mark features an article in Chartered Accountants Ireland’s monthly tax journal on the main income tax implications where a parent gifts to a child an unincorporated trade or shares in a company. Read the article Succession planning – income tax considerations.
PAYE tax return for 2015 The Form 12S, the simplified tax return, for the year 2015 for employees, pensioners and non-proprietary directors is now available on the Revenue website. Electronic tax clearance facility You may have seen the new electronic tax clearance (eTC) system which went live in December. As of 1 January 2016 all new […]
In his article Finance Bill 2015 — a focus on capital taxes measures, Mark writes on the main capital gains tax, capital acquisition tax and stamp duty measures proposed in Finance Bill 2015. These include the new capital gains tax Entrepreneur Relief, increased threshold for clearance certificates in respect of apartments and houses, the increased capital […]
Revenue’s calculation of tax liability for 2014 You may have received a letter from Revenue recently to remind you that Revenue will calculate the tax liabilities due if the paper Form 11 for 2014 is filed on or before 31 August. If you or your clients are an early filer, that is file your paper […]
Mark outlines the changes to the conditions for agricultural relief and recent Revenue guidance on the relief in his article which featured in the August 2015 issue of Chartered Accountants Ireland tax journal. Read Mark’s article.
2014 Tax Return Filing Deadline The Revenue Online Service “ROS” filing deadline for 2014 income tax returns is Thursday 12 November 2015. If you are filing 2014 tax returns on behalf of clients, or your own tax return, you can avail of the extended deadline if you file the return and make the appropriate payment […]
Form CT1 now available The Form CT1 for accounting periods ending in 2015 and a new version of the form for accounting periods ending in 2014 were released by Revenue last month. The “Extracts from Accounts” section of the form is changed to include fields for iXBRL filing requirements. 2014 income tax return and guide […]
Audit of accountancy practices We understand that Revenue have commenced a pilot project auditing accountancy practices in the Cork area, whether the project will be extended to other regions is likely to be determined by the tax take from the sample practices. In our experience the following are areas that attract Revenue attention: • Correct […]
Mark Doyle outlines the key changes to the Irish tax treatment of capital gains including reliefs available to farmers and recently published Revenue eBriefs on capital gains tax. Read the article in full here
Finance Bill 2014 was published on 23 October 2014; the Bill includes many tax measures not previously announced and also confirms the announcements made by the Minister of Finance in his Budget speech. In this article, featured in Accountancy Plus December issue, Mark Doyle examines, at a high level, the main tax changes that will impact taxpayers. Read the article […]
Tax implications of share buybacks4 January 2024 - 09:59Broadly, a company share buyback offers a mechanism whereby a shareholder can dispose of their shares in a company to the company itself for consideration, however, a company share buyback can generate unanticipated tax costs. Where a company buys back its shares for a price above the subscription price for the share any amount in […]
Business Asset Relief and Excess Cash22 September 2023 - 11:14In this article, Mark Doyle and Gearalt O’Neill discuss the impact of cash balances on a claim for CAT Business Asset Relief.
Private company valuation for tax purposes in Ireland18 July 2023 - 12:42Introduction The valuation of private companies for tax purposes holds significant importance within the Irish tax system. It plays a crucial role in accurately assessing the tax liability of shareholders in many different circumstances. Valuations undertaken for tax purposes must be guided by the relevant legislation for each tax head and often the valuation adopted […]
