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Taxing Digital Assets

Existing rules around taxation continue to apply to cryptocurrencies and other new payment and investment vehicles

Relationship Breakdown: Tax Implications

Ireland has seen been both dramatic and welcome changes to the landscape of formalising and dissolving relationships over the last two decades. Among other things, we have seen a historical shift in modernising our tax code and moving it towards equality for all couples. We started the journey in 1995, with the divorce referendum passing […]

Accounting for undistributed income

A recent tax appeal case has highlighted the issues that the close service company surcharge can create for incorporated accountancy practices Irish tax legislation provides for a surcharge on the undistributed income of certain professional service companies that are ‘close companies’ – that is, a company that is under the control of five or fewer […]

Tax Rules Regarding Share Valuations

One of the trends among family businesses during the Covid-19 pandemic has been a renewed interest in succession planning. This interest has been sparked by business owners taking stock of their own personal circumstances and falling profitability in many businesses. Taxes arising from inter-generational transfer of assets are levied based on the market value of […]

Possibilities in uncertain times

The Covid-19 pandemic has resulted in the unusual spectre of the Government providing financial assistance to a large swathe of Irish businesses in order to keep their lights on. Whilst this period of Governmental generosity is viewed as an economic necessity, a large part of the cost of this financial assistance may ultimately have to […]

Principal Private Residence relief

Mark and John write on the decision from the Tax Appeals Commission (TAC) on principal private residence relief. Of particular interest in this appeal is the quantum and sources of evidence provided by Revenue in support of its position and the analysis by the TAC in reaching its decision to deny the relief. The detail of […]

Budget 2018 Key Tax Measures

The Minister for Finance Paschal Donohoe delivered Budget 2018 on Tuesday 10 October. The key tax measures in Budget 2018 include the much publicised reductions in the tax burden for low and middle income earners and tweaks to other taxes, the big surprise was the 4 percent stamp duty increase on commercial transactions and the […]

Entrepreneurs relief: A Real Incentive for Business in Ireland

  Mark takes a look at entrepreneurs relief and recent enhancements to the relief designed to make it more attractive as an incentive to do business in Ireland. Following the reduction in the rate of Capital Gains Tax CGT for entrepreneurs relief (“the relief”) from 20 percent to 10 percent by Finance Act 2016, this […]