Motivated by worries about tariffs and a potential risk to their overseas sales in the post-Brexit era, many UK firms see Ireland as a better option than mainland Europe. Paul Brown, a tax partner at Manchester accountancy firm HURST, said Ireland’s low tax rates – corporation tax is 12.5 per cent – along with state support for overseas companies, a similar business culture to the UK and a common language are key factors behind the surge in interest. In addition, Ireland has a similar business law system and an economy which is not overburdened by regulation, he said.
The Institute of Taxation has published a very good summary of the Provisions of the Finance Bill 2016. Do not hesitate to contact Anthony Casey if you have any queries about the Finance Bill or other taxation matters.
The Departments of Finance and Social Protection issued a Consultation paper on what they term Intermediary-type Structures ie Contractors with a call for submissions closing on 31 March 2016.
We have reviewed the Consultation Paper and are disappointed it does not engage with the reality of the world of professional contracting and is more narrowly focussed on perceived losses of revenue to the Exchequer.
References to zero hours contracts appear as emotive headline grabbing comments but have little or no reality to Intermediary-type contracts.
From 1 January 2016 all applicants registered for tax who require a Tax Clearance Certificate should apply through the eTC system on ROS or myAccount.
The only exceptions to this are:
- Tax Clearance Certificates required for Standards in Public Office (SIPO) purposes,
- non-resident applicants who have no Tax Registration Number in this State,
- non e-enabled applicants,
- non-registered voluntary bodies.
Guidelines on using the new system are available on www.revenue.ie.
If you need any asistance in obtaining your Tax Clearance Certificate or in negotiating historic Revenue debt contact Anthony Casey or call 01 6766 476
Visiting artists earning income from performances in Ireland have a tax liability under Irish tax law which requires them to file a self-assessment return. However, because they are not tax resident in this country, there are practical difficulties in enforcing that liability. In other words they do not file returns and there is no pressure from the Revenue Commissioners to file these returns and pay this tax.