Tax and accountancy issues of today
Information for schedule e workers who may have other income or who have not claimed all their tax credits
No taxable benefit will arise for an employee or director where the employer provides an electric car or van between 1st January 2018 and 31st December 2018. The exemption is for electric cars only not hybrid. Charging points for electric vehicles The provision of charging points on site by an employer for the electric charging … Read more Benefit in kind changes – Finance act 2017
Self assessment deadline is 31st October 2017 for self-employed taxpayers, PAYE workers and retired persons with other income. Self employed taxpayers: Must submit accounts for the accounting year that ends in 2016. If the accounting year ends on 30th June 2016, these accounts are submitted on the 2016 Form 11. It is important to note … Read more 2017 IRISH SELF ASSESSMENT DEADLINE
Revenue have updated the mileage and subsistence rates for employees. The new mileage and subsistence rates take effect from 1st April 2017. Subsistence rates A new vouched accommodation domestic subsistence rate for Dublin has been introduced.. This acknowledges the difficulties encountered in sourcing suitable accommodation in Dublin based on payment of the current Civil Service … Read more MILEAGE AND SUBSISTENCE RATES UPDATED
Travel and subsistence expenses that businesses can claim. Travel expenses The central test of deductibility used when computing assessable Case I or II profits is whether or not he expense is “wholly and exclusively laid out or expended for the purposes of the trade or profession. It is important to note that Revenue will … Read more TRAVEL AND SUBSISTENCE EXPENSES
Section 192A of the Taxes Consolidation Act 1997 provides for an exemption from Income Tax in respect of certain awards made for infringement of an employee’s rights or entitlements or an employer’s obligations under employment legislation. Examples of infringement of an employee’s rights or entitlements include: Discrimination Harassment Victimisation The exemption applies to: Payments arising … Read more EXEMPTION FROM INCOME TAX FOR CERTAIN PAYMENTS MADE UNDER EMPLOYMENT LAW