Taxation of Crypto Assets in Ireland
Colin Keane
The question of whether a trade of dealing in crypto-assets is taking place or has taken place depends on several factors and the individual circumstances. The use of the word ‘trade’ in this context is not sufficient to be regarded as a financial trade for …
Is there any Differences between Director Fees and Director Salaries?
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 …
Who Should Register for VAT?
Conor Gallagher
A value-added tax is a type of tax that is assessed incrementally. The thresholds depend on your turnover in any continuous 12 month period. …
The Right to Request Remote Working
On September 20th, workers returned to the workplace on a phased and staggered basis. However, after October 22nd, 2021, the requirement to work from home will be removed. A return to physical attendance in workplaces will be allowed on a phased and cautious basis. Employers must …
What You Need to Consider Before Investing in Cryptocurrency
Investing in cryptocurrencies has become increasingly popular in recent years. People are now building up digital assets. Cryptocurrencies, such as Bitcoin and Ethereum and more, are rapidly emerging into wider public ownership and usage. However, it is important to consider the potential tax implications on wealth generated from investing …
Taxation of the Pandemic Unemployment Payment (PUP)
During 2020, the payment of the PUP was not taxable at the time of receipt from the Department of Social Protection. This ensured that individuals could register for and start to receive PUP payments quickly. In September 2020, Revenue announced that PUP tax liabilities would …
€2,000 Voucher to Cover Energy Audit for SMEs
Sustainable Energy Authority of Ireland (SEAI), is encouraging Irish SMEs to take control of their energy use with the launch of a new support scheme. The Scheme will provide SMEs with a €2,000 voucher to cover the cost of an energy audit. An energy audit identifies tailored …
The Stay & Spend Tax Credit
The Stay & Spend scheme aims to support the hospitality industry, which has been impacted greatly by COVID-19. The Stay and Spend Tax Credit is available for the years 2020 and 2021. It may be used against an Income Tax or Universal Social Charge liability in …
Paying Tax on Rental Income
Income from renting out a property, or from another source that qualifies as rental income, is taxable. There are several requirements that landlords should be aware of. Landlords are obliged to register with the Residential Tenancy Board and submit income tax returns. You must declare rental income to Revenue under …
Tax Update Management Consultancy Companies
Recent Change in Tax Legislation Due to a recent change and update in tax legislation, Management Consultants should no longer be affected by an additional surcharge on any undistributed income from their Limited companies. Current tax rules provide for an additional charge of corporation tax …
