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Help to Buy

4/5/2022

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:

€30,000
10% of the purchase price of the property
10% of the completion value of a self build
The amount of Income Tax and DIRT you paid for the previous 4 years.
The refund is paid to a bank account you hold with your loan provider.

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EXPORTING: Methods of payment

22/3/2022

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To succeed in today’s global marketplace and win sales against foreign competitors, Exporters must offer their customers attractive sales terms supported by the appropriate payment methods. Because getting paid in full and on time is the ultimate goal for each export sale, an appropriate payment method must be chosen carefully to minimize the payment risk while also accommodating the needs of the Importer. International trade presents a spectrum of risk, which causes uncertainty over the timing of payments between the Exporter (seller) and Importer (buyer). Therefore, Exporters want to receive payment as soon as possible, preferably as soon as an order is placed or before the goods are sent to the Importer. And of course Importers want to receive the goods as soon as possible but to delay payment as long as possible, preferably until after the goods are resold to generate enough income to pay the Exporter’s invoice.

As shown below, there are five primary methods of payment for international transactions. During or before contract negotiations, Exporter should consider which method is desirable and appropriate depending on the relationship with the Importer.

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Finance Bill 2021 - An Overview

24/2/2022

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Budget 2022 looks more positive by contrast to Budget 2021, where we saw unprecedented levels of financial supports being provided to support the Irish economy because of COVID-19 and a no deal Brexit looming. This year is a testament to the changing economic landscape.

Budget 2022 is based on an economic atmosphere where we have seen strong GDP growth in 2021 and an improvement in public finances created by strong taxation receipts.

The key changes and developments on the tax measures announced are as follows:

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Currency Risk Management in COVID Times

30/9/2021

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Today we are living in VUCA world and have been for quite some time – volatility , uncertainty , complexity and ambiguity is the norm as a result of the pandemic.

Everything in the financial markets is relative. Growth potential, rates of return and safety are all considerations which urge capital to flow to one region or asset class over another according to prevailing conditions in the markets. Given its ubiquity, the US Dollar often finds itself a bridge to these shifting winds - for better and worse. Through the opening quarter of 2021, there were significant changes in focus from an incredible charge in retail appetite to anticipation for reopening economies after mass vaccinations to burgeoning inflation expectations that have fed into central bank normalization hopes/fears.

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WE APPROACH MID-YEAR WITH A GREATER SENSE OF OPTIMISM

21/7/2021

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As we move closer to the mid-point of the year, we can look back on the period since 1st January with mixed emotions. On New Year’s night we were looking forward to a brand-new year with some optimism, and we all hoped that the year ahead could not be as difficult as the one just past. Those hopes were dealt a severe blow as we were forced to endure a prolonged period of Level 5 restrictions from the beginning of the year, but throughout the period of lockdown there was a greater sense of normality than during last year’s more stringent lockdown periods. The vaccination programme was being rolled out across the world, albeit at varying speeds, but at least they were being rolled out. We also saw a number of countries gradually relaxing restrictions, and here in Ireland, the COB-related health statistics were moving in the right direction.

OPTIMISTIC GLOBAL OUTLOOK
Since the beginning of the year has been a steady upward revision to global economic forecasts by international forecasting agencies. The IMF now expects the global economy to expand by a strong 6 per cent in 2021. The upbeat assessment is based on the successful rollout of the vaccination programme, and the ongoing strong official fiscal and monetary policy response across the globe.

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