IT 34 Foreign Earnings Deduction

For the tax years 2012 to 2017 inclusive, relief from taxation may be claimed on a proportion of income earned by individuals who are resident in the State but who spend significant amounts of time working in a “relevant state”. The relief applies for the years of assessment 2012 to 2017 and does not apply to Universal Social Charge or PRSI.

Read more: IT 34 Foreign Earnings Deduction

Christmas 2015

The KMCA office will close on Christmas Eve and re-open on 4th January, 2016. We would like to thank all our clients for their support in 2015 and we wish all our clients, colleagues and associates a very Merry Christmas and a Happy New Year!

Exam Success

Congratulations to our trainees on their recent exam successes; we wish them every success in the new year as they progress through their accountancy exams.








 

 

 

Closing Date For Making Personal Fund Threshold (PFT) Applications

The closing date for making Personal Fund Threshold (PFT) applications is 2 July 2015 with no provision for late applications. The system will not be available after 2 July 2015.

For Defined Benefit Schemes, the statements must show the actual calculation of the accrued benefit at 1 January 2014, calculated in accordance with the legislation, and not the prospective benefit that the individual that the individual will be entitled to at a future retirement date.  For Defined Contribution Schemes, the statement should show the value of the fund at the relevant date (no other date is acceptable for PFT purposes).

Summer Budget

In the UK, the Chancellor of the Exchequer George Osborne has announced that there will be a summer Budget on Wednesday, 8 July 2015.

Income Tax Credits, Reliefs and Bands for 2015

Revenue have updated their information on income tax credits, reliefs and rates applicable for the 2014 and 2015 tax years.

Click here to view >>

Exam Success

We're delighted to announce recent exam success for KMCA employees Martin Rooney, Dolores Ann Galbraith and Amie McDonagh!                                

Following Martin Rooney's recent FAE success, congratulations are also due to two more KMCA employees! Dolores Ann Galbraith has passed her CAP 2 exams with Chartered Accountants Ireland and now progresses to FAE stage; congratulations also to Amie McDonagh who passed her CAP 1 exams with Chartered Accountants Ireland and now progresses to CAP 2 stage. Well done all concerned!

FRC Quarterly e-Newsletter

Check out the latest edition of the Financial Reporting Council’s (FRC) quarterly e-Newsletter which has just been issued: it details many recent developments in financial reporting particularly in connection with the implementation of the EU Accounting Directive.

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Bi-monthly Round Up

The bi-monthly round up of the latest developments in tax, HMRC service and consultations for accountants and tax professionals.
Click here to view PDF >>

Budget 2015 - Facts and Figures

The Minister for Finance announced the Irish budget for 2015 in the Dáil on 14th October 2015.  We attach our summary of the key facts and figures announced.
Click here to view PDF >>

New Office Location

We have moved offices to 18 Pembroke Road, Dublin 4. The move arose out of the redevelopment of Earlsfort Terrace / Hatch Street area. We apologise for any inconvenience during the move and aim to keep disruption to a minimum. We look forward to welcoming our clients to our new offices.

ROS Pay & File Deadline

Practitioners are reminded that the Pay & File deadline for ROS Customers is 14th November 2013. To avail of this deadline, customers must file the 2012 Form 11 return and make the appropriate payment through ROS for:

  • Preliminary Tax for 2013,
  • Income Tax balance due for 2012.
Read more: ROS Pay & File Deadline

Budget 2014 – 5 Oct. 2013

The government will publish its 2014 budget on 15 October 2013. This will be the third budget published by this government. The adjustments to government spending that is required has been widely commented upon in the press however we cannot be certain at this point in time about the scale of both fiscal and spending adjustments.

Read more: Budget 2014 – 5 Oct. 2013

Personal Insolvency Act

The new Personal Insolvency Act 2012 came in to law last December and it radically changes the way that personal debt is dealt with in Ireland. Individuals in debt with arrears will now have 3 options to deal with debt and creditors going forward. The options available depend if you debt is secured or unsecured:

Read more: Personal Insolvency Act

FRS 102 Seminar

FRS 102 is the Financial Reporting Standard (FRS) applicable in the UK and Republic of Ireland (known as new UK and Irish GAAP), including the reduced disclosures available for ‘qualifying entities’ reporting under this FRS. This FRS is based upon the IASB’s IFRS for SME’s but has been significantly amended.

Read more: FRS 102 Seminar