Vision Network

More tax, less benefits: Is working as a contractor right for you?

Flexibility and the pay opportunities come at the cost of job insecurity and tax downsides

For further details see article in Irish Times at following link:

More tax, less benefits: Is working as a contractor right for you? Flexibility and the pay opportunities come at the cost of job insecurity and tax downsides

Tax burden of single workers in Ireland increases again

Yet low-income single workers with children in Ireland have one of the lowest tax burdens across the OECD

For further details see article in Irish Times at following link:

Tax burden of single workers in Ireland increases again Yet low-income single workers with children in Ireland have one of the lowest tax burdens across the OECD

Are you getting enough credit (tax credit, that is) for your R&D?

Companies doing research and development may be eligible, but take-up has declined

For further details see article in Irish Times at following link:

Are you getting enough credit (tax credit, that is) for your R&D? Companies doing research and development may be eligible, but take-up has declined

Updates to Revenue Manual on Health Expenses

The Tax Institute received feedback from members, about instances in which Revenue expressed the view that prescription charges incurred by medical card holders were not qualifying medical expenses, because the charges were a government levy and not a cost of the medicine prescribed by a practitioner.

At TALC, they put forward that these charges are a cost incurred in the supply of the medicine and therefore, should be considered qualifying health expenses for the purposes of section 469 TCA 1997. Revenue’s Manual Health Expenses – Qualifying Expenses has now been updated to confirm that prescription charges incurred by medical card holders are qualifying health expenses (where all other qualifying criteria have been met).

Revenue’s Manual has also been updated to:
Remove references to the MED 1 Form, as it is no longer applicable
Update the Kidney Expenses rates (Appendix 1)
Add content regarding health expenses paid out of an individual’s estate following his or her death

Why the government bottled it again on the local property tax?

Even in the option involving least change, over 250,000 homes would face higher bills

For further details see article in Irish Times at following link:

Subscriber Only: Why the government bottled it again on the local property tax? Even in the option involving least change, over 250,000 homes would face higher bills

Banks notified Revenue of 23,422 suspicious transactions last year

Audits linked to such reports yielded €5.5m for tax authority in 2017

For further details see article in Irish Times at following link:

Banks notified Revenue of 23,422 suspicious transactions last year Audits linked to such reports yielded €5.5m for tax authority in 2017

Employer paying your rent? Revenue says you’ll have to pay tax on it

Tax authority clarifies how employees must account for free accommodation

For further details see article in Irish Times at following link:

Employer paying your rent? Revenue says you’ll have to pay tax on it Tax authority clarifies how employees must account for free accommodation

Irish cohabiting couples still worse off than those in UK or France

New UK Bill will help cohabiting couples to save hundreds of thousands in tax over lifetime

For further details see article in Irish Times at following link:

Irish cohabiting couples still worse off than those in UK or France New UK Bill will help cohabiting couples to save hundreds of thousands in tax over lifetime

Thousands may be missing out on lucrative tax reliefs

Survey by taxback.com suggests most people are unaware of tax-saving schemes

For further details see article in Irish Times at following link:

https://bit.ly/2ul6PBG

Thousands may be missing out on lucrative tax reliefs Survey by taxback.com suggests most people are unaware of tax-saving schemes

https://jsdesign.ie/developing-your-design-brief/

New ROS Phased Payment Arrangement (PPA) - Agent Authorisation

On 25 March 2019, Revenue will introduce a facility to allow taxpayers to make Phased Payment Arrangements (PPA) via ROS. Taxpayers who wish to avail of a PPA must be registered for ROS and hold a current digital certificate. Tax agents who are acting for taxpayers in relation to a PPA, will need to have a client authorisation in place to be able to manage and view their client's PPA. This applies for both existing and for new PPA entered into from 25 March. The authorisation can be uploaded via the Online Phased Payment link in ROS.

Revenue provided an overview of the new ROS PPA at Main TALC this week. Broadly, it replicates the current paper-based process to apply for and agree an phased payment arrangement. Once a PPA has been agreed, the taxpayer/agent will be able to vary payment dates, pay early or seek a payment moratorium for a period, if necessary.

The system is designed to handle the PPA process from end-to-end (i.e. application, agreement and payment management). However, taxpayers/agents will be able to contact Revenue personnel if, for example, the taxpayer cannot meet the agreement terms Revenue proposes and needs to discuss alternative arrangements. Revenue also noted that phased payment arrangements which are currently in place will be uploaded on the new ROS system.

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