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STAY AND SPEND CREDIT

25/1/2021

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The Stay and Spend Tax Credit is a new tax credit available for the years 2020 and 2021. You can claim the Stay and Spend credit for qualifying expenditure incurred between 1 October 2020 and 30 April 2021. This includes expenditure on either:
  • holiday accommodation
  • ‘eat in’ food and drink
The minimum spend is €25 per transaction. You must submit a copy of your receipt with the claim. A ‘qualifying service provider’ must provide the service. Qualifying service providers are those who have registered with Revenue to participate in the scheme. The maximum tax credit available under the scheme is €125 when you spend a total of €625. The maximum tax credit available for those under joint assessment is €250 when you spend a total of €1,250. The tax credit will used to reduce your IT liability. Any excess credit may then be off set against your liability to USC. You must have an IT or USC liability to offset against the credit to claim same.
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Income Tax Deadline Extension not for all!

24/9/2020

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​The Revenue Commissioners recently announced that if taxpayers file and pay their income tax online then their filing deadline has been extended to 10 December 2020. However, if you are unable to pay the balance of tax for 2019 and meet your full 2020 preliminary tax requirements then your filing date is 31 October 2020.
 
With all of the confusion in business at the moment we would like to point out that for those struggling to pay the 2019 income tax liability this extension does not apply to you. We would recommend all clients contact us sooner rather than later in relation to their 2019 income tax. If you can avail of the extended deadline we will set the payment date for the 10 December 2020.
 
Please do not hesitate to contact us with any queries.
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No backdating for EWSS

1/9/2020

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The Revenue have confirmed that employers will not be able to back date a registration for the new Employee Wage Subsidy Scheme (EWSS). However an employer can register for the scheme at any stage once they meet the criteria, even if this is after the September payroll is run. Once registered you will only receive the subsidy for all future payroll runs.
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E WORKING AND TAX

3/7/2020

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Due to the ongoing global pandemic, the Government directive recommends working from home. In light of this Revenue has recently updated their manual stating that an employer may pay up to €3.20 per day without deducting PAYE, PRSI or USC to cover the additional costs of working from home.
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If the employer does not make a payment of €3.20 per day to the employee then the employee may be entitled to make a claim in respect of vouched expenses incurred wholly, exclusively and necessarily in the performance of the duties of employment.
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DONATIONS TO SPORTING BODIES

23/1/2020

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Where an individual who pays tax under the PAYE system makes a qualifying donation to an approved sports body they can claim tax relief by way of a deduction from total income. An approved sports body must promote an athletic or amateur game or sport, must be on the approved sports bodies listing on the Revenue website and must hold an up-to-date tax clearance certificate.

A donation will qualify under this tax relief if it is:....

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