Practice News
Library of Knowledge No. 47 Re: Standard Rate Reverts to 23% from 1st March 2021. The standard rate of VAT will return to 23% from 1st March 2021, having been temporarily reduced in response to the COVID-19 pandemic. As part of the Government’s July Stimulus Package, the standard rate of VAT was reduced from 23%…
Read MoreThe Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its supervisory examination of business interruption insurance issues and in the wake of the recent judgement from the High Court against FBD. The court ruled in favour of […]
Read MoreLibrary of Knowledge No. 46 Criteria from 1st January 2021. From 1 January 2021, the period to be reviewed to determine eligibility for EWSS will be 1 January to 30 June 2021. The reduction in turnover or customer orders (30%) between 1 January and 30 June 2021, is shown compared to the: same period in…
Read MoreLibrary of Knowledge No. 45 Re: 2020 Commercial Rates Waiver (update) In Budget 2021, the Government announced an extension of the waiver of 2020 commercial rates for certain properties. The initial 3 month waiver period from 27th March 2020 was extended twice, to 27th September 2020 and finally to 31st December 2020. This waiver is…
Read MoreBusinesses, and especially SMEs, have been alerted of the need to actively claim the zero-tariff rate on UK origin goods. The Minister of State for Business, Employment and Retail, Damien English, said that under the EU-UK Trade and Cooperation Agreement, tariff duties are eliminated for trade between the EU and the UK where the relevant […]
Read MoreLibrary of Knowledge No. 44 The National Minimum Wage increased from 1 January 2021 this applies to most employees. It is the minimum hourly pay rate that must be paid. It applies to full-time, part-time, temporary and casual employees. However the following categories of employees are excluded: Employees who are close relatives of the employer,…
Read MoreLibrary of Knowledge No. 43 A new Brexit Business Loan was announced on 23rd November 2020 today by the Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar T.D., to help small business prepare for Britain’s exit from the single market and customs union at the end of this year. The introduction of the…
Read MoreThe Government has decided to extend two measures which were brought in to help businesses during the Covid-19 pandemic. The Covid-19 Credit Guarantee Scheme (CGS) will now stay open for new applications until the end of June. It had been due to close at the end of the year. The suspension of redundancy provisions relating […]
Read MoreWe like to save money in Ireland and much and all as we’ve generally disliked ‘lockdown’, and all that it has meant in terms of an erosion of our personal freedoms, it has enabled many people to put even more money aside. According to the Central Bank, deposits in banks and credit unions soared this year, […]
Read MoreA new loan scheme to help small businesses to prepare for Brexit has been launched through Microfinance Ireland. Loans for between €5,000 and €25,000 will be available to companies whose turnover has dropped or is likely to drop by 15% or more because of the UK’s departure from the EU. Firms with a short term […]
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