Insights

Keep up to date with insights, best practices, news publications and press releases from Crowleys DFK.

tax dedcuation for pre-letting expenses

New tax deduction of up to €5,000 for pre-letting expenses incurred by landlords

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Up to recently, landlords were not entitled to a tax deduction for pre-letting expenses such as mortgage interest, insurance and repairs incurred before the date a property was first let out. To encourage owners of vacant residential properties…
Benefit-in-Kind: Private Use of Company Vans

Changes to Benefit-in-Kind: Private Use of Company Vans

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Normally, where a van is available for the private use of an employee as a result of their employment, the employee is chargeable to PAYE, PRSI and USC in respect of that private use. Travel to and from work is considered private use. The…

KEEP – Share Option Scheme

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The Finance Bill 2017 has introduced a tax efficient share option scheme for employees of SMEs. The Finance Bill provides that from 1 January 2018, SMEs in Ireland will be able to grant KEEP (Key Employee Engagement Programme) share options…
VAT treatment of transactions

VAT and Payment Services

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The Revenue Commissioners have issued guidance which sets out the VAT treatment of transactions concerning the transfer of money. Guiding Principles Transactions are defined according to the purpose and nature of the service provided and…
preparing for gdpr

Preparing for General Data Protection Regulation (GDPR)

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The General Data Protection Regulation (GDPR) will come into effect from May 2018 replacing the existing data protection framework. Are you preparing for GDPR? Here are 10 tips to consider: 1. Have you created awareness? Staff should…

Budget 2018 Highlights

Personal Tax Cuts to the two middle rates of Universal Social Charge – 2.5% rate cut to 2%; 5% rate cut to 4.75%.   Incomes of €13,000 or less are exempt from the USC. Otherwise, rates are as follows: Income €                      Rate 0-…

Our Analysis of Budget 2018

    Budget 2018 was delivered by Minister Donohoe in the continuing context of an Irish economy in good shape and with strong and sustainable future growth predicted.  However, with potential Brexit headwinds forecast and…
rent a room relief

Rent a Room Relief

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Are you aware of the rent a room relief? If you let a room in your home, the income you receive may be exempt from tax. If your gross rental income does not exceed the exemption limit below, you do not pay Income Tax, Pay Related Social Insurance…
vat treatment of education and vocational training

VAT Treatment of Education and Vocational Training

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Finance Act 2015 amended the VAT treatment of education and vocational training. The amendment was to ensure that Irish VAT legislation reflects judgements of the Court of Justice of the European Union. The wording of the amended legislation…
income tax exemption

New income tax exemption for Irish resident non-executive directors

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Finance Act 2016 introduced an income tax exemption in respect of certain expenses of travel and subsistence of an Irish resident non-executive director of a company. The expenses must be incurred solely for the purpose of attendance by a…
Taxation of Exam Setters, Invigilators and Correctors

Taxation of Exam Setters, Invigilators and Correctors

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With third level exams completed and State Examinations drawing to a close, Revenue has received a number of queries as to whether exam setters, invigilators and exam correctors can be engaged as “self-employed” individuals and paid gross…

Crowleys DFK boosts its leadership team

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Crowleys DFK is delighted to announce senior promotions in our Tax, Public Sector and Practice Development Departments. The partnership will be enhanced with the promotion of Siobhán O’Hea to Tax Partner A highly-experienced tax…