Guide to Irish Tax

This Tax Guide provides an overview of the Irish tax system. Check out our Budget summary & video for a review of key changes as announced by the Minister for Finance. If you have any specific queries on the content of the Guide or the recent Finance Act do not hesitate to contact us at info@noonecasey.ie or 01 6766 476.

Income Tax

• Income Tax Rates
• Bands of taxable income
• Income Exemption Limits
• Income Levy
• Tax Residence
• Split Year Treatment
• Cross Border Workers
• Remittance Basis of Assessment
• Special Assignment Relief Program
• Seafarer Allowance

Tax Exemptions & Reliefs

• Exemptions
• Relief for the Long Term Unemployed
• Childminding relief
• Mortgage Interest Relief
• Home Carer’s Credit
• Carer’s Allowance
• Covenants
• Medical Insurance
• Dental Insurance
• Medical Expenses
• Permanent Health Insurance
• Trade Union Subscriptions
• Third Level College Fees
• Training Course Fees
• Service Charges
• Rent-a-Room Scheme
• Rent Relief for Private Accommodation
• Donations
• High Earners
• Artists Exemption

Income Tax Administration

• Self Assessment – Pay and File
• Payment and Compliance
• Joint Assessment
• Pay and File Summary
• Information included in Return
• Late Filing of P.A.Y.E. Returns
• Registration of Foreign Employers

Interest Relief for Individuals

• Relief on Profits and Rental Income
• Limited Partnerships
• Interest relief for Rents

Investment Income

• Standard Rate DIRT Accounts
• 26% DIRT Accounts
• Incapacitated Individuals and over 65s
• Post Office Saving Certificates
• Investment Undertakings
• Credit Unions
• Post SSIA Maturity schemes
• Non-residents
• European Savings Directive
• Reporting of Deposit Interest

Special Investment Schemes

• Business Expansion Scheme (B

Retirement & Pensions

• Company Pension Schemes (Employees and Directors)
• Level of Allowable Contributions
• Refund of Contributions
• Retirement Annuities
• Directors Contributions
• Entitlements on Retirement
• Income Tax charge on pension funds
• Approved Retirement Funds (ARFs)
• Relief on Retirement for Sports Persons
• PRSA
• Self Administered Pension Funds
• Lump Sum Payments
• Retirement – Termination Lump Sum Payments
• Top Slicing Relief
• Lump-Sum Payment to Employees on Company Restructuring
• Retraining Exemption
• Reporting Requirement

Employee Share Schemes

• Approved Share Option Schemes
• Unapproved Share Option Schemes
• Share Purchase Schemes
• Profit Sharing Schemes
• Save As You Earn Scheme (SAYE)
• Returns:
• Restricted Shares

Benefit in Kind

• Company Cars
• Company Vans
• Parking Levy
• Preferential Loans
• Accommodation
• Travel Passes
• Childcare Facilities
• Other Exemptions
• Anti Avoidance

Motor Expenses

• Mileage
• Subsistence Allowances

Corporation Tax

• Rates:
• 10% Corporation Tax – Manufacturing Relief
• Corporate Group Relief
• Close Companies
• Corporate donations
• R & D Credit
• New Company Start ups
• Payment and Compliance
• Large Companies
• Small Companies:
• New Companies
• Group Companies
• Filing
• Exemption for Disposal of Shareholdings
• Payment Dates for Capital Gains Tax
• Penalties

Taxation of Dividends

• Dividend Withholding Tax (DWT)
• Encashment Tax
• Scrip Dividends (Shares in lieu of dividends)

Capital Allowances

• Annual Allowance – Plant and Machinery
• Energy efficient equipment
• Lessors
• Motor Vehicles
• Taxis
• Sea Fishing Boats
• Industrial Buildings
• Time Limits:
• Transitional Provisions for Property Incentive Schemes
• Conditions for Transitional Relief
• Tax Life
• Deemed Balancing Event:
• Hotels
• Camping and Caravan sites
• Multi-Storey Car parks
• Nursing and Convalescent Homes
• Palliative care units
• Childcare Facilities
• Student Accommodation
• College buildings
• Private Hospitals/Psychiatric Hospitals & Sports Injury Clinics
• Designated Areas
• Tax Designated Areas
• Urban Renewal Scheme
• Residential Reliefs
• Seaside Resort Areas
• Rural Renewal Relief
• Town Renewal Scheme
• Living Over The Shop (LOTS)
• Park & Ride
• Refurbishment of certain Rented Accommodation
• Mid Shannon Corridor Tourism Infrastructure Investment Scheme
• Property Developers

Capital Gains Tax

• Rates
• Inflation Relief
• Roll-over Relief – Business Assets
• Roll-over Relief – Property
• Roll-Over Relief for Individuals –Shares
• Retirement Relief
• Exemptions and Relief
• Payment and Compliance
• Payment Dates for Capital Gains Tax
• Clearance Certificate

Capital Acquisitions Tax

• Taxable Inheritance
• Taxable Gift
• Thresholds for CAT
• Rates
• Main Exemptions and Reliefs
• Private Residence Relief
• Business Relief
• Payment and Compliance
• Surcharge for Understatement
• Joint Account Limits

Discretionary Trust Tax

Stamp Duty

• Non residential property
• Residential Property
• First Time Buyers Relief
• Residential Property – New Rate Structure
• Exemptions & Reliefs
• Clawback of First-Time buyers Relief
• Anti-Avoidance
• Other Rates

Capital Duty

Residential Property Tax

Vehicle Registration Tax

Value Added Tax

• Registration
• Foreign Traders
• Rates
• Section 13A
• Foreign Visitors
• Holiday Homes
• Travel agents margin scheme
• Payment and Compliance
• Cash Receipts
• Anti Avoidance
• New VAT on Property Rules
• Reverse charge mechanism in the Construction Sector
• Partial VAT Rebate on certain Company Cars

Pay Related Social Insurance

• Rates 2010
• Employees PRSI
• Self-Employed
• Employers PRSI

Marital Breakdown

• Legally Enforceable Maintenance Agreements
• Transfer of Assets – Divorced Persons
• Transfer of Assets – Separated Spouses
• Capital Acquisitions Tax

Glossary

DISCLAIMER