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Capital gains tax (CGT) deadline 15th December 2017

Anyone who has made a capital disposal between 1st January 2017 and 30th November 2017 must pay CGT by 15th December 2017. The filing date for this disposal is 31st October 2018. Anyone who has made a capital disposal between 1st December 2017 and 31st December 2017 must pay CGT by 31st January 2018. The filing date for this disposal is 31st October 2018. Capital disposals include sales of shares, […]


2018 Budget

The 2018 Budget was introduced by Minister for Finance & Public Expenditure and Reform, Paschal Donohoe on 10th October 2017. Economic growth The Budget was presented against a background of continuing economic growth and an economy which is approaching full employment. The Budget is almost a balanced one, which means that our national debt may finally have peaked, though remains at a still massive €200bn. If international interest rates increase, […]


Taxation of company vehicles

The provision of a company vehicle to an employee is of dubious benefit, due to the taxation implications. For the company, deductibility is dependant on business use, so if a vehicle is largely used by an employee for personal purposes, the tax deduction is reduced accordingly. Furthermore, even the business deductibility is restricted for “higher value” vehicles, ie those costing more than €24,000. For the employee, he/she will be assessed […]


Company Law Update

Irish company law Irish company law as recently changed with the replacement of the 1963 to 2013 Companies Acts with the Companies Act 2014 (“The Act”). This Act runs to 1,300 pages and 1,440 sections. In this article we will set out a synopsis of some of the changes that may impact on our client companies and their directors. Most of the sections have recently commenced. The Act replaces the […]


September Tax Update: Tax Debt Write-offs and CAT filing

Significant increase in tax debt write-offs, according to the Comptroller and Auditor General’s 2010 Report Debts owing to Revenue amounted to €2.1 billion at end-March 2011; Tax debt write-offs increased by 72% in 2009, compared with 2008 and a further increase of 35% was recorded in 2010; The largest amount written off in a single case was €3.8 million. Most write-offs resulted from business failure or insolvency CAT filing deadline […]


Revenue Chairman comments on “shadow economy”

Revenue Chairman comments on “shadow economy” In her opening statement before the Public Accounts Committee last Thursday, Revenue Chairman Josephine Feehily spoke about the shadow economy. She commented that the shadow economy grows in times of recession “as people look for ways to replace lost income or profits”. In 2010 Revenue “placed great emphasis on tacking cash economy risks by a combination of risk analysis, intelligence collation, assurance checks and […]