Property damage – insurance payouts taxable?

In the aftermath of Hurricane Ophelia some business owners may have experienced damage to their business property.  Hopefully, those that did have adequate insurance cover to pay for the damage. How is the insurance payout treated by tax law? Under Capital Gains Tax (CGT) rules insurance compensation received in connection with property is of a…

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Budget 2018 – Small Business Perspective

What was possibly the most leaked budget in Irish history was published yesterday.  While it was hardly mold breaking, or earth shattering, there are a few positive things in Budget 2018 for micro and small businesses (and a small rant about stamp duty): Self-employed tax credit – nearly there The earned income tax credit (PAYE…

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Budget 2013 wishlist revisited

5 years ago I wrote a blog containing my Budget 2013 wishlist.  I stumbled across it today and decided to give a dust down to see if any of the my requests were ever delivered (I don’t think any were in 2013) and whether I still agree with my 2012 self! Here’s my budget wish…

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Revenue writes to 30,000 employers

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According to Chartered Accountants Ireland, Revenue has began writing to 30,000 employers that included employees on their P35s for 2016 but had not registered them with Revenue as employees.  It seems like a lot. Under PAYE rules an employer must register a new employee with Revenue either by submitting a P45(3) issued by the previous…

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