At time of writing (mid-November), the 2019 Finance Bill is meandering through the Oireachtas. In broad terms, it was a quiet budget day on 8 October last in tax terms due to stated concerns about the potential impact of a no deal (or “hard”) Brexit.
​
Minister Donohoe announced the availability of €1.2 billion to support those most affected if a no deal Brexit happens, with about half that for the agriculture/enterprise/tourism sectors and badly hit regions.

​A very brief outline of tax changes to date (under summary headings) is:...

Capital Acquisitions Tax (CAT) has changed drastically since 2008, giving rise to substantial tax due in the passing of an estate. Subsequently, life companies have emerged with improved tax efficient solutions.

Changes in Taxation
In 2008, a child could inherit up to €521,208 free of tax with any surplus subject to taxation at just 20%. Today, a child’s taxfree inheritance is limited to €320,000, with any surplus subject to taxation at 33%.

On the 10th October 2019, the Taoiseach, Leo Varadkar T.D. and the UK Prime Minister, Boris Johnson M.P. announced that they could see a “pathway to a possible deal” on Brexit. The EU and the UK have agreed to intensify discussions over the coming days in an attempt to agree an orderly withdrawal of the UK from the EU. The outcome of these negotiations is still very uncertain.

In the absence of any transitional arrangement, Revenue intend to operate on the basis that customs procedures apply from “Day 1” - 1 November. In the panel discussion at the Institute’s recent event on Customs and Preparing for Brexit, Celine O’ Neill from Revenue’s Brexit Policy Unit outlined some practical issues for businesses preparing for customs, including: ​

Short term lettings of free space in houses through websites such as Airbnb has soared in the last few years. Initially there was confusion as to whether income from letting a room in your own home on a short term basis could qualify for an exemption from Income Tax under Rent a Room Relief. Revenue has confirmed that short term lettings advertised through online accommodation sites do not qualify for Rent a Room Relief.