Insights

New Revenue Guidance on determining the employment status of an individual

Revenue have recently published new guidelines on determining the employment status of workers for tax purposes.

Relocating Employees to Ireland – Key Tax considerations

This article focuses on the Irish payroll tax consequences of globally mobile employees who work in Ireland on a temporary basis.

What is the Domicile Levy?

The Domicile levy is a payment of up to €200,000 per annum, which shall be paid annually by every individual where certain conditions are met.

Termination of Employment Tax Treatment in Ireland

If you are undergoing a redundancy/termination process, it is essential that the employee receives tax support to try and mitigate the resulting tax liability.

Employment Investment Incentive Scheme changes in 2024

The Employment Investment Incentive Scheme (“EIIS”, “the Relief”) as the name suggests, is intended to incentivise equity-based finance in trading companies, expected to create or increase employment.

Benefits and Tax Considerations of using a Trust in Ireland

Trusts have become increasingly popular as effective tools for protecting and managing assets in Ireland.

Special Assignee Relief Programme (SARP)

The Special Assignee Relief Programme (SARP) is available to employees who are seconded to perform their employment duties in Ireland.

Entrepreneur Relief – Important Definitions

Following on from my article in February Entrepreneur Relief, Retirement Relief and the Interaction Between the Two, I intend to discuss in detail the definitions of “holding company” and “qualifying group” as they apply to anyone intending to claim Entrepreneur Relief (“ER”) under section 597AA of the Taxes Consolidation Act 1997 (“TCA”) on the disposal of shares in a holding company.

Ireland – Remaining Competitive in an Ever Changing Global Tax Environment – 2023

Ireland’s exchequer tax receipts for 2023 are already beating expectations. While multinational corporate tax receipts have been a big contributor, the domestic economy continues to play a pivotal role. This is evident from the busy start to 2023 that Warren & Partners are seeing within our client base of Irish private companies, entrepreneurs, partnerships, and private clients.

Entrepreneur Relief, Retirement Relief and the Interaction Between the Two

The CGT reliefs commonly known as Entrepreneur Relief (“ER”) (contained in s.597AA TCA) and Retirement Relief (“RR”) (contained in both s.598 TCA where the disposal is to a third party), are well known and very valuable reliefs that are available to SME owners the length and breadth of Ireland. However, what is not well known or well understood, is the interaction between the two reliefs and how they apply simultaneously but more importantly how the reliefs can be maximised. We intend to deal with the interaction between RR on disposals to third parties under s.598 TCA and RR on disposals to children under s.599 TCA in a future article.

Gift and Inheritance tax planning – Business Asset Relief

The decision to pass on a business to the next generation can be a big step for any family. Whilst commercial and family dynamics are key concerns, the matter of taxation should be high up on the agenda to ensure that tax costs for the outgoing shareholders and the incoming family members are minimised.Therefore, Business Relief is an extremely important relief to consider if much of your family’s accumulated wealth is tied up in a business. We have outlined below the key benefits and conditions of Business Asset Relief.

Important Changes in New Code of Practice for Revenue Compliance Interventions

Taxpayers Take Note: Important Changes in New Code of Practice for Revenue Compliance Interventions

Gift and Inheritance Planning

In the first of our series on inheritance and gift planning we outline below one of the principal reliefs available to reduce the tax bill.

Irish Expats Returning to Ireland – Have you tax planned your move?

According to the CSO, the year to 30 April 2020 saw the highest number of Irish ex pats (28,900) returning to Ireland since 2007. It is vitally important that the ex pat’s financial affairs are managed in a way that the move to Ireland is tax efficient, particularly if they are currently living in a tax jurisdiction with low personal income tax and capital gains tax rates. There are many relevant tax matters which should be considered prior to moving back to Ireland. Our experienced tax team can provide important assistance in this regard.

New Employer Reporting Requirements for Certain Share Schemes

There are several annual reporting obligations for employers who operate share schemes for their employees which are due for filing with Revenue by 31 March following the year end.

Recent advice for Tax Resident but Non-Domiciled Individuals

Non-domiciled individuals can reside in Ireland tax efficiently. However, failure to plan your move before establishing tax residence in Ireland can have adverse tax consequences.

Tax-efficient ways to achieve your commercial goals

Despite Covid, our corporate tax team have had a very busy 2021 working with clients to achieve their commercial goals tax-efficiently.

Inheritance & Gift tax planning assignments completed recently

Warren & Partners have over 25 years of experience providing inheritance & gift tax planning solutions to clients all over Ireland. We see an increasing demand for our services to enable the tax-efficient transfer of business or personal assets to the next generation.

What are clients speaking to us about?

The unprecedented times we are living in has caused clients to reflect on key tax issues facing them.

Covid 19 related concessions re benefit in kind and personal tax residency

In late December, Irish Revenue updated their guidance regarding various Covid-19 related concessions in relation to benefit in kind (BIK), cross border employment and tax residence due to a person’s force majeure presence in the State due to Covid-19. We have summarised the key points below.

Supporting businesses across Ireland and the UK through the final stage of Brexit and beyond

The UK left the EU on 31 January 2020 but has retained the key elements of membership during a ‘transitional phase’. On 31 December 2020, the transitional phase will end. We outline below what key consideration for businesses based in Ireland.

Accelerated Capital Allowances for Energy Efficient Equipment

The current accelerated capital allowances regime for energy efficient equipment is to be extended until 31 December 2023.

Budget 2021 Announcement

Minister for Finance, Paschal Donohoe, today announced a €17.75bn budget package for 2021. We have highlighted below some of the key measures outlined in today's budget speech.

Employment Wage Subsidy Scheme (EWSS)

As part of the July stimulus package, the Government has announced that the Temporary Wage Subsidy Scheme (TWSS) is to be phased out and replaced by the EWSS.

July Jobs Stimulus - Tax Relief for Business Owners

On 23 July 2020, the Government announced the July Jobs Stimulus which aimed to provide financial support to Irish individuals and companies adversely affected by the Covid-19 pandemic. We have summarised below details of the key tax reliefs that have been introduced in this package.

Government Announces €7.4bn Stimulus Package

The Government announced its July Stimulus package yesterday to aid Ireland’s economic recovery following the Covid-19 pandemic.

Non-Irish Employments Exercised in the State

Irish Revenue issued new guidance regarding the obligation to operate PAYE in relation to non-Irish employments exercised in the State and short term business visitors. The new guidance is back dated to 1 January 2020.

To Gift or not to Gift

As Ireland begins to count the cost of tackling the COVID-19 pandemic, it is clear that the cost of supporting citizens and business will have to be financed, and tax measures will play their part.

Covid-19 Summary of Irish Tax Measures

As businesses are dealing with severe disruption as a result of the COVID-19 pandemic, the Government and Revenue have introduced several measures to mitigate the effects.

Global Mobility and Covid-19

Our global mobility team has received a number of queries regarding various issues related to COVID-19 including staff effectively stranded in various jurisdictions.

Year End Review

As we start another year, we wanted to highlight some of the interesting tax consultancy projects we were involved with prior to the end of 2019.

The Multilateral Instrument

International tax law has been subject to much scrutiny in recent years. The level of reporting on tax planning carried out by large multinational companies has resulted in international tax legislation being introduced which affects businesses of all sizes.

Finance Act 2019, an Overview

A highlight of some of the key enhancements proposed in the Finance Act 2019

Two Tier VAT Registration

Guidance in Relation to Two Tier VAT Registration.

Non-Resident Investment in Irish Property

We can assist non-residents seeking to acquire Irish property through an Irish company as part of their investment portfolio.

2019 - A Mid Year Review

A highlight of some of the projects we have been working on in the first half of 2019 and to give you an insight into this work.

Irish Tax Incentives for Non Irish Nationals Seeking to Adopt Irish Tax Residence

This article focuses on the benefits Ireland offers non-Irish individuals (i.e. non-Irish domiciliaries) who become Irish tax resident.

Are you impacted by changes in the UK Tax treatment of non domiciled Individuals?

With effect from 06 April 2017, non-domiciled individuals in the U.K. are subject to significant changes in the way their UK tax affairs are dealt with from an Income Tax, Capital Gains Tax and Inheritance Tax perspective.

US and UK Residents Moving to Ireland

At Warren & Partners, we are experts in advising Individuals moving to Ireland on a temporary or permanent basis, in order to minimise your overall Irish income tax, capital gains or capital acquisitions tax burden.

Knowledge Development Box (KDB)

The Knowledge Development Box (KDB) is a progressive new addition to Ireland’s corporation tax regime from 2016 onwards.

Opportunities for Locating Business in Ireland

The purpose of this note is to highlight some of the strategic international tax advantages contained within the Irish tax code for businesses and entrepreneurs.

Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.