Business News
Library of Knowledge No. 69 Rent Tax Credit – claimable by tenants from 2022 to 2025. 2022 & 2023 Credit Claim € 500 for an individual € 1,000 for a couple who are jointly assessed for tax. 2024 – 2025 Credit Claim € 750 for an individual € 1,500 for a couple who are jointly…
Library of Knowledge No. 68 The 2022 Finance Act outlined plans to introduce ‘Enhanced Reporting Requirements’ which comes into effect from the 1st January 2024. What does ‘Enhanced Reporting Requirements’ mean? From the 1st January 2024 Revenue require that specific reimbursed / tax free payments to employees (including Directors) be submitted via ROS (Revenue Online…
Library of Knowledge No. 67 The measures announced earlier this week improves the opportunity for business to claim the Temporary Business Energy Support Scheme (TBESS.) The scheme is also extended until the end of May 2023. Improvements to Scheme Note: Those changes will apply retrospectively from the start of last September 2022. The payment will…
Library of Knowledge No. 66 Second Reduced VAT Rate of 9% extended, until 31ST August 2023 The ‘Second Reduced VAT Rate’ of 9% which was introduced initially for the period 1st November 2020 to 28th February 2023, is now extended to 31st August 2023. The announcement was part of the package published by the government…
Library of Knowledge Week 65 With the current economic climate still uncertain, The Revenue Commissioners announced that the current Covid Debt Warehousing Scheme has now been extended to the 30th April 2024. This will come as a relief to many who by the 31st December ’22 would have been faced with either a substantial sum…
Library of Knowledge No. 64 Cycle To Work Scheme – save up to 52% This scheme aims to encourage you to cycle to and from work. Under the scheme the employer can buy a bicycle and safety equipment for the employee. This will not be a taxable benefit-in-kind. There are now two limits, depending on the type of bicycle purchased.…
Library of Knowledge No. 63 Small Benefit Exemption From 2022 employers can give employees and company directors (once on the payroll) up to two small benefits, tax free, each year. These benefits must not be in cash and the combined value of the two benefits cannot exceed €1,000. If more than two benefits are given…
Library of Knowledge No. 62 The 2023 Budget announced five supports for business. Temporary Business Energy Support Scheme (TBESS) – the operational details are currently being worked through and will be available soon. Ukraine Enterprise Crisis Scheme – the scheme will be administered through Enterprise Ireland, IDA and Údarás na Gaeltachta. Small Firms Investment in…
Library of Knowledge No. 61 Good afternoon, As business owners we have a responsibility to regularly complete reviews of environmental performance and efficiencies. If this is an area in your business that requires some focus and attention, then the ‘Green for Micro’ programme could well be worth considering. Green for Micro is a FREE programme…
Library of Knowledge No. 60 The new Agile Innovation Fund. For companies to continue to thrive and stay ahead of the competition they need to continually innovate. Enterprise Ireland’s Agile Innovation Fund is open to Local Enterprise Office clients. It could allow your business to access up to 50% in support for product, process or…