Research & Development Activities in Ireland

In the recent budget Minister Noonan announced the introduction of a new incentive scheme for companies engaged in Research & Development Activities in Ireland. Oddly he decided to call it the “Knowledge Development Box” If you think this applies to your business, read on, if you are interested to see one of the methods large …

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Tax Credits

There is an enormous amount of information on tax credits, so in order to stop this article turning into a novel, I have concentrated on what I believe are the most relevant. I have then listed all the other tax credits at the end of the mail. If you need further details on any of …

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New Companies Act

The Companies Act 2014 is the single biggest piece of legislation enacted in the history of the state. The commencement of the Act on the 1st of June brings over 15 years of consultation, preparation and work to a conclusion. This significant change impacts directly on SME companies and their directors. How does the Act …

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Additional Income Tax Relief Infromation

This is a follow up articles on Income Tax Tips and Advice. For some specific areas you may be entitled to claim relief. Artists Exemption Income is income from qualifying work(s) determined by the Revenue Commissioners to have artistic/cultural merit and for which the Revenue Commissioners have granted exemption from Income Tax under Section 195 …

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Accounting for VAT on a Cash Receipts Basis

Accounting for   VAT on a Cash Receipts BasisThe annual turnover threshold for the   cash receipts basis of accounting for VAT to apply is to be increased from   €1.25m to €2m from 1 May 2014.What is the cash receipts   basis of accounting for VAT?Normally a business is required to   include in …

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Exempt Childcare Services

Exempt Childcare Services An individual in receipt of income from childcare services which is exempt following an election under Section 216C TCA 1997 is regarded as a chargeable person within the meaning of Section 959A TCA 1997. The individual is a chargeable person for self-assessment and must make an annual return of income using a …

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Grant – Innovation Vouchers

Innovation Vouchers – New Standard Application Round (Island of Ireland) The Innovative Vouchers scheme, which builds links between Ireland’s public Knowledge Providers and small businesses, has opened a new Standard application round for 2014. The programme’s objective is to strengthen relationships between Ireland’s education institutions and businesses to create a cultural shift in the small …

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Fast Tax Saving Tips

It’s January, so it’s time to trim some of the fat of your tax bill. Easy tips for saving tax by Tony Kilcoyne – Kilcoyne & Co.  Most tax reliefs will save you tax 20%, so for every euro you spend on an area where relief is available, you will save 20 cent. There are still a number …

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