Tax and accountancy issues of today
Irish AIRbnb hosts may have tax issues arising from renting their property on Airbnb. The Revenue updated its guidance on Rent a Room relief in May this year. It stated that “income from the provision of accommodation to occasional visitors for short periods including, for example, where the accommodation is provided through online accommodation booking … Read more TAX ISSUES FOR Airbnb HOSTS
There are sixteen sheriffs appointed by the government to carry out debt collection for the Revenue. A warrant is a legal document conferring authority on the Sheriff to enforce collection of Revenue liabilities, if necessary, by seizing goods. It is valid for twelve months. However if the sheriff fails to collect any of the liability … Read more NEW TIME LIMIT FOR SHERIFF TO COLLECT DEBTS OWED
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
There are various issues that anyone working in the construction sector should be aware of: RELEVANT CONTRACTS TAX (RCT) All contract and payment notifications are made electronically through ROS since 2012. Revenue now have real-time information on activities of Principals and Subcontractors. Since December 2015 each construction site is issued with a unique site identifier … Read more CONSTRUCTION SECTOR TAX ISSUES
Pay Related Social Insurance (PRSI) is payable by most individuals working in Ireland The exceptions are: If the individual is under 16 or over 66. Self employed and earnings for the year are under €5,000. Spouse or civil partner of a self employed sole trader. From 1st January 2014 spouses and civil partners who assist … Read more PRSI – EXCEPTED INDIVIDUALS