Revenue has updated its detailed guidance on the TBESS including new guidance on registering and making claims. The guidance, available on the Revenue website and linked here, includes screenshots from the TBESS e-Registration portal and sample electricity and natural gas bills to assist businesses.
 
Eligible businesses can register for the TBESS, via the e-Registration facility in Revenue’s Online Service (ROS) which opened on Saturday 26th November.
 
Following registration, businesses will be able to submit claims under the scheme from 5 December. A claim portal in respect of TBESS will be available via the eRepayments system on ROS in early December.
 
To prepare for the claim stage, a business will need all the electricity and natural gas bills for the reference period of September 1, 2021 to February 28, 2022. A business will also require the current energy bill to make a claim.
 
Qualifying claims will be paid once the enabling legislation in Finance Bill 2022 has been signed into law. Eligible businesses that have successfully completed registration and made valid claims by the third week in December for September, October and November will be paid before the end of the year.

The franchise sector is an important contributor to the Irish economy both in terms of the employment it creates and the wealth it generates. The growth in the franchise sector in Ireland looks set to increase through new franchisees setting up their own businesses, through existing indigenous businesses using the franchise model for expansion and through new non-Irish franchises entering the market due to our strong domestic economy.

Business Format Franchising is a business method in which the franchisor (developer) grants to the franchisee (investor) the right to run a business selling a product or providing a service under the franchisor’s business format and identified by the franchisor’s trademark or brand. This includes a format for the conduct of the business, a management system for operating the business and a shared trade identity.

Franchising is a comprehensive business relationship whose four essential elements ensure a better success rate than starting a non-franchised business. These are:

Travel insurance can seem like a boring and unnecessary item on your pre-travel to do list – why spend money protecting yourself against a holiday disaster which may never happen? However, expensive holiday disasters, such as cancellation, medical emergencies or lost possessions, can strike at any time, whether you’re popping over to Europe for a long weekend or travelling the world for two years.

The main items covered by travel insurance are:

• Cancellation Cover
• Emergency Medical Expenses and Repatriation – NOTE There are many travel medical plans available that include Covid related medical expenses. But since not all do, it’s important to verify Covid coverage before buying a plan if it’s a priority for you.
• Personal Possessions, Travel Documents and Gadgets.
• Activity Cover - Some travel medical insurance policies won’t cover expenses that resulted from activities such as mountain climbing, skydiving or parasailing.

Revenue has introduced concessions for income tax & corporation tax for employees of Ukrainian employers required to work from Ireland because of the ongoing war in Ukraine for the 2022 tax year. Irish-based employees of Ukrainian employers will not be liable to Irish income tax & USC on Ukrainian employment income that is attributable to the performance of duties in Ireland. The Ukrainian employers will not be required to operate the PAYE system on such employment income. The concession relates solely to employment income that is paid to the Irish-based employees by their Ukrainian employer.

The concessionary treatment will apply for the tax year 2022 where:

• The employee would have performed his/her employment duties in Ukraine but for the war they are unable to, and
• The employee remains subject to Ukrainian income tax on his/her employment income

​The corporation tax concession will disregard the presence of employees, directors, service providers and agents who have come to Ireland because of the war. Revenue may request documentary evidence relating to the reallocation of the individual to Ireland, e.g. a record of the arrival dates to Ireland.

​The war in Ukraine has added greatly to inflationary pressures this year, with further very sharp increases in energy and other commodity prices. CPI rates reached 8.5% in the US and 8.1% in the Eurozone in May and hit double-digit levels in some economies. The Bank of England is forecasting that inflation in the UK will rise above 11% in the final quarter of this year. Growth, though, is clearly weakening, making central banks task more difficult as they will want to try and avoid pushing their economies into recession as they tighten policy.