I use groupon (City deals in Ireland) a bit. I travel with work and the hotel deals are excellent. Too good in fact when you consider the hotels get on average 50% of what you pay, and only after the guest has stayed. I’m sure the publicity is great for the hotels and if you have [...]
The Finance (No. 2) Bill 2011 has a provision for a new reduced VAT rate at 9%. This rate mainly applies to good and services related to tourism. This list of goods and services on which the VAT rate will change is listed below. Supplies of goods and services at the new 9% rate: catering [...]
Questions have arisen in relation to the VAT treatment of donations to charity, usually for specific disaster appeals, made via mobile phones using SMS shortcodes. The purpose of this eBrief is to clarify the correct VAT treatment that should apply in respect of such donations. Overview: The provision of telecommunications services is liable to VAT [...]
A new survey suggests that business sentiment has continued to stabilise during the first three months of 2011. A new survey suggests that business sentiment has continued to stabilise across the economy during the first three months of 2011. The KBC Bank/Chartered Accountants Ireland business sentiment survey indicates that the economy is ‘bouncing along the [...]
Normal rules The amount of preliminary tax that an individual is required to pay to avoid a charge to interest is the lower of: 90% of the final liability to tax for the current tax year, or 100% of the liability to tax for the immediately previous year, or 105% of the final liability to [...]
Facing criticism over the amount of taxes it pays, General Electric announced it will repay its entire $3.2 billion tax refund to the US Treasury on April 18. GE uses a series of foreign tax havens that the company says are legal and that led to an enormous refund for the 2010 tax year. The [...]
As personal tax rates continue to increase there is a growing number of advantages for certain farmers to incorporate. While not for every farmer there may be significant tax savings for larger higher earning farmers . The largest advantage is capitalising the farmers own stock and machinery creating a directors loan inside the limited company which can [...]
When you start business as a sole trader / partnership there can be a significant period before you make your first tax return. It is important to remember that although you may not have to file a tax return you still must pay preliminary tax. This is best explained with an example New Business You [...]
If you need to de register from a particular tax you can use the form TRCN1 This form covers VAT Employers Taxes (PAYE/USC/PRSI) RCT Income Tax Corporation Tax For any tax advice please feel free to contact us on 091-442882
In recent months I’ve noticed a few people mentioning that the VAT rate on services is 13.5% (One even charged it incorrectly on an invoice). Simply put the VAT rate on services is often NOT 13.5% 13.5% is the ‘lower’ rate of VAT. 21% is the ‘standard’ rate of VAT. To give you an example [...]
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