Factsheets

The debt warehousing scheme now includes income tax liabilities which normally fall due on 31 October 2020. This means that payments of the balance of income tax due for 2019 and preliminary tax for 2020 may be deferred, or known as ‘warehoused’, for up to 12 months’, interest free. A lower 3% reduced interest rate will apply thereafter to any outstanding payments until they are paid in full.

Bernard Doherty discusses the July Job Stimulus.

The Irish Revenue Commissioners have issued much welcomed guidance and clarifications in relation to short-term business visitors (“STBVs”) working in Ireland. The revised guidance applies from 1 January 2020 and will significantly reduce the administrative and cashflow burden for employers in this area.

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All RTD’s for businesses with a 31 December 2017 year end must submit a RTD on or before 23 January 2018 via the Revenue Online System (“ROS”). Please contact a member of our indirect tax team if you require assistance with completion of your RTD.

What is a Personal Public Service (PPS) number?

This indirect tax update looks at VAT exemption on certain medical diagnostic services, VAT repayment offset changes with effect from 25 November 2019 and much more.

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The Department of Public Expenditure and Reform have announced changes from 1 July 2019 to the standard rates of subsistence allowances in Ireland that apply to the Civil Service.

On 20 February 2019, the ‘Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019’ was initiated by the government. This is a Brexit Omnibus Bill to prepare Ireland for a no deal withdrawal by the UK from the EU.

A restricted share scheme grants an employee “restricted” shares in their employer company. The shares are issued with restrictions requiring the shares to be retained on trust for the participant for a fixed period before they can be sold. The employee has beneficial ownership during this period. The fixed retention period is commonly called the ‘clog’ period.

At Grant Thornton, our change management specialists help our clients to understand the impact that change will have on their organisation, completing change impact assessments to clearly establish and document who will be affected by the change and the degree to which they will be impacted.

As the holder of a VAT 56B Authorisation Certificate (VAT 56B), you will no doubt be aware that you are entitled to receive qualifying goods and services at the zero rate of VAT, regardless of the actual rate of VAT applicable to the good or service in question. This factsheet acts as a refresher to ensure that you are gaining the most from your VAT 56B, yet not availing of the zero rate of VAT where it would not be appropriate to do so.