Is there any Differences between Director Fees and Director Salaries?
Conor Gallagher
From a tax perspective in Ireland the answers is no, and must be treated in the exact same manner. Payment of Director Fees Fees paid to directors in their capacity as office holders, are chargeable to tax under Schedule E and subject to deductions at …
Help to Buy Incentive
The Help to Buy (HTB) incentive is a scheme for first-time property buyers. It will help you with the deposit you need to buy or build a new house or apartment. You must buy or build the property to live in as your home. The …
Benefit in Kind Exemptions on Use of Company Vehicles
There are two scenarios where Benefit in Kind (BIK), may not be triggered for employees when using company cars. Car Pools If your employee uses a company car in a car-pool, they do not have to pay PAYE, PRSI and USC on this benefit. A car-pool exists …
Summary of Tax Treatment of RSUs
Restricted Stock Units We are seeing more and more employees getting offered RSUs as part of their Salary Package and many are unsure of the tax consequences. In the majority of cases there will be both an Income Tax liability and a CGT liability. What …
The Benefits of Outsourcing Your Finance Function
Colin Keane
Outsourced accounting, bookkeeping and tax services have become a more common solution for small businesses today. The advantages which were once seen to be enjoyed by mid-market and enterprise companies, are becoming more understood by smaller companies. Why do Companies Outsource? More Cost Effective Hiring …
Irish VAT due to Increase to 23%
The Standard Rate of Irish VAT is due to increase to 23% with effect from March 1st 2021. The rate had been reduced to 21% for a six month period from 1 September 2020 to 28 February 2021. The Minister for Finance has recently indicated …
2020 Personal Tax Return Checklist
Period 1 January 2020 to 31 December 2020. We have created a tax checklist to help you with your personal tax returns. Tax Returns and Tax Payments due for submission on or before 31 October 2021. Click below to avail of this Personal Tax Return …
Managing Debt Finance in Current Times
The effects of Covid-19 have been dramatic for Irish businesses, and it is crucial that leveraged businesses actively engage with their lenders to prepare for the end of government supports and bank forbearance. Where Are We? It has been almost a year since the onset …
Common Tax Rates & Bands 2020 and 2021
Common Tax Rates & Bands 2020 and 2021 Nearly all income is liable to tax. Tax on income that you earn from employment is deducted from your wages by your employer on behalf of Revenue. This is known as Pay As You Earn (PAYE). The …
