Budget Briefing 2025
Budget 2025 Minister Jack Chambers delivered his first Budget this afternoon, 1 October 2024. While it is his first Budget, it is the current Government’s last one as a general election must be held before March 2025. The strong corporation tax receipts again exceeding forecasts together with the Apple ruling from the ECJ gave the […]
Life Policies to Fund Gift or Inheritance Tax
A gift or inheritance can result in a significant tax liability and to make matters worse if the assets transferred are illiquid, there may be no funds to pay the tax. The tax liability on a gift or inheritance is payable by the beneficiary which in the case of a gift from a parent to […]
Revenue Penalties for not Reporting Employee Expenses
Since 1 January 2024 employers have been required to report to Revenue with details of certain tax-free expenses and benefits paid to employees. Specifically, any payments made directly to employees in respect of: • Travel and subsistence • Small benefit exemption • Remote working daily allowances are required to be reported to Revenue on or […]
Finance (No.2) Act 2023
We are pleased to outline our commentary on Finance (No. 2) Act 2023 (“the Act”) which was signed into law by the President on 18 December 2023.
Tax Tables 2024
The must have PMQ Tax Tables 2024 are now available. If you would like a physical copy contact us at pmq@pmqtax.com.
Retirement Relief
Transfers of Family Businesses to the Next Generation Background Retirement Relief could eliminate your capital gains tax liability when transferring your family business/ farm or shares in your family company (family business) to your children. Full relief is currently available on transfers subject to certain conditions if you are aged between 55 – 65. The […]
Thinking of Moving to Ireland?
An English speaking country neighbouring the UK, Ireland offers many advantages for individuals who wish to relocate from the UK and maintain access to the European Union. In Ireland, an individual’s residency and domicile determine their liability to income tax. Individuals who are Irish resident and domiciled will be liable to tax on their worldwide […]
Maximise Tax Reliefs on Transferring the Family Business before they Change
Retirement Relief can provide for an exemption from capital gains tax (CGT) on the transfer by a parent aged 55 and over of the family business to their children. For 2024, there can be a full exemption from CGT where the parent is aged between 55 to 65. Where the parent is aged 66 and […]
Tax Free Payments to Employees New Reporting Requirements
Despite employer resistance and lobbying by the professional bodies Revenue seem to be proceeding with the introduction of employer reporting of the payment of expenses and small benefits to employees with effect from 1 January 2024. The measure was introduced in Finance Act 2022 and was subject to a commencement order to give time for […]
Budget Briefing 2024
Budget 2024 – An Abundance of Tax Changes The penultimate pre-election budget contains a myriad of tax changes that impact businesses. Against a backdrop of corporation tax receipts which are forecast at €23.5 billion for the full year 2023 (€750 million below previous forecasts), two new funds have been put in place to secure the […]
Vacant Homes Tax
Revenue have recently issued guidelines on the Vacant Homes Tax (VHT) which was introduced to encourage vacant homes to be put to use to alleviate the housing crisis. The tax first applies for the period from 1 November 2022 to 31 October 2023. The filing date for the return is 7 November 2023 and payment […]
Finance Act 2022
We are pleased to provide our comprehensive commentary on Finance Act 2022 which was signed into law by the President on 15 December 2022.
Tax Tables 2023
The must have PMQ Tax Tables 2023 are now available. If you would like a physical copy contact us at pmq@pmqtax.com.
Budget Briefing 2023
Budget 2023 – The Cost-of-Living Budget The Coalition Government today, 27 September 2022, announced a Budget package of €11 billion which aims to alleviate the cost-of-living crisis and the threat to jobs from the surge in energy costs as well as managing the long-term challenges of housing, health, education, and climate. Budget Package The Budget […]
Finance Act 2021
We are pleased to provide our comprehensive commentary on Finance Act 2021 which was signed into law by the President on 21 December 2021.
