Retirement / Succession Planning

The main tax reliefs to be considered when business owners are planning for retirement or succession include the following: Capital Gains Tax Retirement Relief – there are several conditions to consider.  The main conditions to consider for example include age (claimant must be 55 years old or older); must own assets for 10 years prior …

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Supports for Refurbishing Vacant Property

The Department of Housing, Local Government and Heritage published information detailing supports to people that refurbish vacant residential properties.  This includes grants and tax reliefs under the Living City initiative. For more information please visit:  

Assessment of the Temporary Business Energy Support Scheme (TBESS

Assessment of the Temporary Business Energy Support Scheme (TBESS) under Section 100 of Finance Act 2022 – January 2023 Minister for Finance, Michael McGrath, has published the first three-month assessment of the Temporary Business Energy Support Scheme (TBESS). To read more please visit:

Statutory Sick Pay

Effective from 1 January 2023, the new statutory sick pay scheme came into effect. Employers must ensure that they are ready to comply with their obligations.  Some steps that may help employers are: Sick leave payments will need to be reflected in employee payslips.   Employers should review their payroll processes to ensure this can be …

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Extension of Interim Changes to Company Law

The Companies (Miscellaneous Provisions) (Covid-19) Act 2020 (the “Covid Act”) amends the Companies Act 2014 (the “Companies Act”) and the Industrial and Provident Societies Act 1893 (the “1893 Act”), each on a temporary basis, so that, notwithstanding challenges posed by the pandemic, entities can continue to operate in compliance with relevant provisions of those Acts.  …

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Periodic review of FRS 102

UK and Irish accounting standards are subject to periodic review at least once every five years. This is done to ensure that the standard remains up to date and to ensure that stakeholders are engaged with in relation to how the standard is operating. The Financial Reporting Council (FRC) has issued FRED 82 Draft amendments …

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Benefit in Kind rules have changed with effect from 1 January 2023.

Employers should review the treatment of these benefits and update their payroll computations to ensure that the correct notional pay is subject to tax with effect from 2023.   Please visit this link for more information:

Budget 2023 – For Business

Small Benefit Exemption Today the Minister for Finance announced changes to the Small Benefit Exemption, permitting two vouchers to be granted by an employer in a single year and increasing the annual limit per employee from €500 to €1,000 per annum. These changes will apply for 2022 and subsequent years.   Corporation Tax Research & …

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