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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A couple of unexpected nuggets in Finance Bill 2015

The 2015 Finance Bill was published this morning and is expected to be signed in to law by the end of December. The Finance Act effectively puts in to law the tax aspects of the budget announced on budget day.  Usually there are a couple of surprises that weren’t announced on budget day, and this…

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So what’s REALLY in Budget 2013 for small business

It was refreshing to finally hear the Minister for Finance focus on Small & Medium Enterprises (SMEs) in Budget 2013.  For too long, in my opinion, the emphasis of successive administrations has been on foreign multinationals and exporting indigenous businesses.  While that sector should be nurtured it shouldn’t be done at the expense of the nuts and bolts of…

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Budget 2013 wish list

Here’s my budget wish list for 2013.  None of these suggestions have been costed out.  The tax changes are mainly driven by tax simplification and equitable objectives rather than pure income generating tools. 1. Abolish principal private residence relief This one has been on my agenda for some time and admittedly is less of an…

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Action plan for jobs – what’s in it for start-ups?

A lack of detail for starters! Let’s take the main points. The Action Plan for Jobs (APJ) has 15 action points for 2012 relating to indigenous start-up businesses. None of these has a time scale (other than “2012”). These pronouncements by Government are obviously given an overly positive slant, a little spin, and an inevitable…

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UK Budget 2011 – summary of business tax measures

Business taxation measures announced in Budget 2011: Corporation tax Reduced by 2% from April 2011 To be reduced by a further 1% per annum for the following 3 years Small profits rate to be reduced to 20% from April 2011 Corresponding increase in bank levy from 2011 Capital allowances Short life asset election to be…

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Tax aspects of the new programme for government

The new programme for government contains over 15 taxation proposals. Included in those are several aimed at small businesses: Establishment of a Tax and Social Welfare Commission to examine entitlements of self-employed persons and the elimination of disincentives to employment Halve the lower employer’s PRSI rate of 8.5% up to the end of 2013 Feasibility…

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Artist’s exemption Finance Act 2011 changes

Finance Act, 2011 introduced a cap of €40,000 on the amount of profits or gains in respect of which an individual is entitled to claim the artist’s exemption. The benefit of the exemption had been reduced since 2007 by virtue of the specified relief restriction. The specified relief restriction is the mechanism for ensuring high…

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