Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.
Some recent posts from our experts.
Entrepreneur Relief, Retirement Relief and the Interaction Between the Two
The CGT reliefs commonly known as Entrepreneur Relief (“ER”) (contained in s.597AA TCA) and Retirement Relief (“RR”) (contained in both s.598 TCA where the disposal is to a third party), are well known and very valuable reliefs that are available to SME owners the length and breadth of Ireland. However, what is not well known or well understood, is the interaction between the two reliefs and how they apply simultaneously but more importantly how the reliefs can be maximised. We intend to deal with the interaction between RR on disposals to third parties under s.598 TCA and RR on disposals to children under s.599 TCA in a future article.
Gift and Inheritance tax planning – Business Asset Relief
The decision to pass on a business to the next generation can be a big step for any family. Whilst commercial and family dynamics are key concerns, the matter of taxation should be high up on the agenda to ensure that tax costs for the outgoing shareholders and the incoming family members are minimised.Therefore, Business Relief is an extremely important relief to consider if much of your family’s accumulated wealth is tied up in a business. We have outlined below the key benefits and conditions of Business Asset Relief.
Important Changes in New Code of Practice for Revenue Compliance Interventions
Taxpayers Take Note: Important Changes in New Code of Practice for Revenue Compliance Interventions
Gift and Inheritance Planning
In the first of our series on inheritance and gift planning we outline below one of the principal reliefs available to reduce the tax bill.
Irish Expats Returning to Ireland – Have you tax planned your move?
According to the CSO, the year to 30 April 2020 saw the highest number of Irish ex pats (28,900) returning to Ireland since 2007. It is vitally important that the ex pat’s financial affairs are managed in a way that the move to Ireland is tax efficient, particularly if they are currently living in a tax jurisdiction with low personal income tax and capital gains tax rates. There are many relevant tax matters which should be considered prior to moving back to Ireland. Our experienced tax team can provide important assistance in this regard.
Some related posts from our experts.
Knowledge Development Box (KDB)
The Knowledge Development Box (KDB) is a progressive new addition to Ireland’s corporation tax regime from 2016 onwards.
Covid-19 Summary of Irish Tax Measures
As businesses are dealing with severe disruption as a result of the COVID-19 pandemic, the Government and Revenue have introduced several measures to mitigate the effects.
Finance Act 2019, an Overview
A highlight of some of the key enhancements proposed in the Finance Act 2019
The Multilateral Instrument
International tax law has been subject to much scrutiny in recent years. The level of reporting on tax planning carried out by large multinational companies has resulted in international tax legislation being introduced which affects businesses of all sizes.
Year End Review
As we start another year, we wanted to highlight some of the interesting tax consultancy projects we were involved with prior to the end of 2019.
Non-Irish Employments Exercised in the State
Irish Revenue issued new guidance regarding the obligation to operate PAYE in relation to non-Irish employments exercised in the State and short term business visitors. The new guidance is back dated to 1 January 2020.
Government Announces €7.4bn Stimulus Package
The Government announced its July Stimulus package yesterday to aid Ireland’s economic recovery following the Covid-19 pandemic.
July Jobs Stimulus - Tax Relief for Business Owners
On 23 July 2020, the Government announced the July Jobs Stimulus which aimed to provide financial support to Irish individuals and companies adversely affected by the Covid-19 pandemic. We have summarised below details of the key tax reliefs that have been introduced in this package.
Employment Wage Subsidy Scheme (EWSS)
As part of the July stimulus package, the Government has announced that the Temporary Wage Subsidy Scheme (TWSS) is to be phased out and replaced by the EWSS.