If you rent out your property, or a room in your property to visitors for short-term lets there are certain tax implications, and there may also be other rules that you need to follow. Short-term lets are stays of less than 14 days at a time, for example, if you rent out your property on a booking website such as Airbnb.
If you are renting out a property, or a room in your property for short-term lets, you may have to apply to your local authority for planning permission to change the use of the property, so it can be used for tourism and short-term letting purposes.
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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:
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 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.
A first time Statutory Sick Pay entitlement for all employees moved closer to enactment with the announcement recently, by the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD, that the Government has approved the publication of the General Scheme of the Sick Leave Bill 2022.
The Bill legislates for a statutory sick pay scheme for all employees, phased in over a four-year period. The new scheme will start with three days per year once the Bill is enacted, rising to five days in 2024, seven days in 2025, and ten days in 2026. The timeline has shifted slightly since the Government first announced details of the proposed scheme last year when it said there would be 10 days of sick leave by 2025. |
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