Tax Brief: Pre-Letting Expenses
Expenses incurred on rental properties prior to letting was previously disallowed as a deduction against rental income when computing taxable rental profits.
Finance Bill 2017 includes new measures permitting a deduction for pre-letting expenses incurred on previously vacant residential properties where:
Top 3 Investment Criteria
A survey amongst venture capital investors revealed the top three criteria that are used in assessing the attractiveness of a proposition. Business angel investors are probably no different. The top three criteria arising from the survey were:
- Management team;
- Exit opportunity; and
- Revenue potential.
Did You Know: Tax Residency of Irish Incorporated Companies
A company is broadly regarded as resident in Ireland for tax purposes either by being incorporated in Ireland, or by virtue of it being centrally managed and controlled in Ireland (irrespective of where it is incorporated).
It is permissible under Irish tax legislation for an Irish incorporated company to migrate its residence to a foreign jurisdiction. In order to become foreign tax resident, the Irish company would have to transfer the location of the company’s effective management from Ireland to the foreign jurisdiction. To that end all the board meetings, strategic decisions and negotiation of contracts should take place outside of Ireland. Foreign tax resident directors may also need to be appointed to the board.
Top 5 Business Apps To Simplify Your Day
1 GOOGLE DOCS
Edit, export and view documents efficiently while you are on the go. Create new documents or edit existing files on an easy to use app that also allows you to collaborate with colleagues in the same document at the same time. You can even work offline if you need to.
Create teams and message each other, assign tasks and create deadlines. Helpful for managing multiple projects with different groups of people.
Easy and secure access to Revenue’s services to help you manage your Irish tax affairs, on the go. This also gives you access to Receipts Tracker – the easy way to record and manage receipts for your expenses.
This app brings together news, popular stories and conversations around any interest or passion. Download the app, select your interests and Flipboard will create a magazine just for you.
5. TINY SCANNER – PDF Scanner App
You will never have to worry about not being near a scanner again. Use this app to turn your smartphone into a scanner. This app also turns the scanned documents into PDF’s for safe distribution.
Cyber Security Tips for SME’s
As digital transformation takes hold, organizations must learn what their IT security vulnerabilities are — and how best to address them.Emerging technologies, particularly the Internet of Things (IoT), are taking global connectivity to a new level, opening fresh and compelling opportunities for both adopters and, unfortunately, attackers.