The Sunday Business Post yesterday reported that Revenue are investigating various Garda allowances. Let’s just assume that there is a tax liability of €900 million. Who is responsible for paying the tax? The Department of Justice – It is the employer’s responsibility to ensure PAYE is properly applied.
So we have one Government Department [...]
Gifts and inheritances with a valuation date in the 12 month period ending on 31 August 2011 must be included in the return to be filed by 30 September 2011.
For 2012 and later years, where the valuation date arises between 1 January and 31 August, the Pay and File deadline is 30 September [...]
From 1 January 2012, following a decision of the European Court of Justice, VAT will be chargeable on admission to historic homes and gardens.
The pension levy, which was signed into law on 22 June 2011, applies on 30 June 2011 (and the following three anniversaries of that date) at 0.6% of the assets held in the pension fund (occupational pension plans, personal retirement plans, personal retirement savings accounts, and retirement bonds). It does not apply to approved retirement funds (ARFs).
Civil partnerships
The tax system is being changed to treat civil partners and qualified cohabitants on the same basis as married couples. The changes are included in the Finance (No 3) Bill 2011. Tax Law 2011 and Tax Book 2011 will include details of the changes.
If you are a landlord, you should pay your NPPR charges on or before 30 June 2011. Failure to do so attracts an ongoing monthly charge of 20 euro per property – 10% per month, or over 120% per annum. Payment can be made at http://www.nppr.ie
Mandatory disclosure of tax avoidance transactions
The Mandatory Disclosure of Certain Transactions Regulations 2011 (SI 7/2011), which require tax advisers to provide Revenue with information in relations to schemes they promote, became effective on 17 January 2011. Further information.
Here is the Revenue Commissioners’ summary of the key tax changes announced in the Budget.
The patent exemption scheme and relief for approved share option schemes are to be abolished from the date of the National Recovery plan (24.11.2010).
