EII is a tax relief which encourages individuals to provide equity based finance to trading companies by allowing individuals to obtain Income Tax relief on investments for shares in certain qualifying companies. Since October 2019 the tax relief of up to 40% of the investment made is available in full in the year of investment.
An individual who has made a qualifying investment on or after 1 January 2020 can claim relief on investments up to a maximum of €250,000 per year of assessment. Please note that shares must be retained for at least 4 years. Alternatively, an individual who has made a qualifying investment on or after 1 January 2020 can claim relief on investments up to a maximum of €500,000 per year of assessment subject to the following:
Where an investor invests an amount greater than the maximum amount allowed in a year, the excess over the maximum amount can be carried forward against future Income Tax liabilities. A Statement of Qualification (SOQ) must be issued by the qualifying company within 4 months after the end of the year in which shares are issued.
Finance Act 2021 extended this relief by a further 3 years to 31 December 2024.
Operating a successful eCommerce website requires you to consider a lot of elements to make it successful. To get you started, here are five fundamental tips that you can use to optimise your eCommerce store for success.
1. Improve the checkout process
On average, 70% of online shoppers abandon their basket at checkout. Creating a checkout process that is simple and offers flexibility for the customer is crucial to improving the on-site conversion rate. Removing outdated or unnecessary fields, and offering flexible payment options at the checkout are examples of how you can improve your checkout process.
Help to Buy
Help to Buy (HTB) incentive helps all first time buyers buy a newly built house, apartment or self- build home. It only applies to properties that cost €500,000 or less. The incentive which has been extended by Revenue to 31 December 2022, gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous 4 years. An individual cannot claim relief on PRSI or USC. An individual can claim a tax refund based on the income tax they have already paid, to the lessor of: