News & Updates

Revenue Penalties for not Reporting Employee Expenses

Since 1 January 2024 employers have been required to report to Revenue with details of certain tax-free expenses and benefits paid to employees.  Specifically, any payments made directly to employees in respect of: •           Travel and subsistence •           Small benefit exemption •           Remote working daily allowances are required to be reported to Revenue on or […]

Finance (No.2) Act 2023

We are pleased to outline our commentary on Finance (No. 2) Act 2023 (“the Act”) which was signed into law by the President on 18 December 2023. 

Tax Tables 2024

The must have PMQ Tax Tables 2024 are now available.   If you would like a physical copy contact us at pmq@pmqtax.com.

Retirement Relief

Transfers of Family Businesses to the Next Generation Background Retirement Relief could eliminate your capital gains tax liability when transferring your family business/ farm or shares in your family company (family business) to your children. Full relief is currently available on transfers subject to certain conditions if you are aged between 55 – 65. The […]

Thinking of Moving to Ireland?

An English speaking country neighbouring the UK, Ireland offers many advantages for individuals who wish to relocate from the UK and maintain access to the European Union. In Ireland, an individual’s residency and domicile determine their liability to income tax.  Individuals who are Irish resident and domiciled will be liable to tax on their worldwide […]

Maximise Tax Reliefs on Transferring the Family Business before they Change

Retirement Relief can provide for an exemption from capital gains tax (CGT)  on the transfer by a parent aged 55 and over of the family business to their children.  For 2024, there can be a full exemption from CGT where the parent is aged between 55 to 65.  Where the parent is aged 66 and […]

Tax Free Payments to Employees New Reporting Requirements

Despite employer resistance and lobbying by the professional bodies Revenue seem to be proceeding with the introduction of employer reporting of the payment of expenses and small benefits to employees with effect from 1 January 2024.  The measure was introduced in Finance Act 2022 and was subject to a commencement order to give time for […]

Budget Briefing 2024

Budget 2024 – An Abundance of Tax Changes The penultimate pre-election budget contains a myriad of tax changes that impact businesses. Against a backdrop of corporation tax receipts which are forecast at €23.5 billion for the full year 2023 (€750 million below previous forecasts), two new funds have been put in place to secure the […]

Vacant Homes Tax

Revenue have recently issued guidelines on the Vacant Homes Tax (VHT) which was introduced to encourage vacant homes to be put to use to alleviate the housing crisis.  The tax first applies for the period from 1 November 2022 to 31 October 2023.  The filing date for the return is 7 November 2023 and payment […]

Finance Act 2022

We are pleased to provide our comprehensive commentary on Finance Act 2022 which was signed into law by the President on 15 December 2022.

Tax Tables 2023

The must have PMQ Tax Tables 2023 are now available.   If you would like a physical copy contact us at pmq@pmqtax.com.

Budget Briefing 2023

Budget 2023 – The Cost-of-Living Budget The Coalition Government today, 27 September 2022, announced a Budget package of €11 billion which aims to alleviate the cost-of-living crisis and the threat to jobs from the surge in energy costs as well as managing the long-term challenges of housing, health, education, and climate. Budget Package The Budget […]

Finance Act 2021

We are pleased to provide our comprehensive commentary on Finance Act 2021 which was signed into law by the President on 21 December 2021.

Sinn Fein Alternative Budget 2022 – Whatever happens tomorrow taxes are likely to be higher under Sinn Fein

Sinn Fein Budget Proposals Tax Revenue  Remove tax credits on a tapered basis on individual incomes above €100,000 Introduce a 3% solidarity tax on individual incomes above €140,000 Abolish the Special Assignee Relief Programme Introduce a 40% CGT rate on individual incomes above €500,000 Increase CAT rate to 36% & reduce Group A Threshold to […]

Watch List for Possible Tax Changes in Budget 2022

The Tax Strategy Group (TSG) is an interdepartmental committee with membership from leading government departments and the Revenue Commissioners. Its purpose is to provide options for consideration in the context of the budget in the medium and long term. The 2021 TSG papers have been published and although the TSG is not a decision-making body […]