AITI Chartered Tax Adviser

Budget 2020

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Download budget 2020 summary by clicking here

VAT and the climate crisis

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The standard rate (23%) applies to bicycles. [1]
The zero rate applies to jet fuel. [2]
Aircraft add tons of carbon dioxide to the atmosphere on a daily basis.
Does it make sense to be subsidising polluters with a zero VAT rate?
1 VATCA 2010 s 46(1)(a)
2 VATCA 2010 Sch 2 para 4(5)

Tax Guide 2019

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A handy 90 page pocket summary of tax rates, tables, reliefs, exemptions, and tips.
Click here to download your free ebook/pdf.

Income tax: charge to tax – residence – income tax rates (including back years) – exemptions – Schedules – personal reliefs and tax credits – other reliefs – capital allowances – losses –

Budget 2019

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Download budget 2019 summary by clicking here

Tax Guide 2018

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You can now download our Tax Guide 2018 here: Download Tax Guide 2018

VAT on biscuits

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The standard rate applies to biscuits covered or decorated with chocolate, e.g., chocolate mallow “tea cakes”.
The reduced rate applies to biscuits as they are flour or egg based bakery products. This include chocolate chip cookies, cream crackers and wafers.
The reduced rate applies to a biscuit assortment, if the weight of

Budget 2018

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Download budget summary by clicking here.

Entrepreneur relief – how do I qualify?

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TCA 1997 s 597AA provides that a chargeable gain from disposal of chargeable business assets is subject to CGT at 10%.
1. Unlike retirement relief (which provides exemption where sales proceeds do not exceed €750,000), entrepreneur relief applies where the chargeable gain does not exceed €1,000,000.
2. The assets must have been

Non-residence – it’s not that simple

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To the man in the street (and many professionals!) in order to become “non-resident” and thereby escape the Irish tax system, you need only spend less than 183 days in Ireland.
In order to become non-resident for tax purposes you need to satisfy two tests:
(a) You must spend less than 183

Disclosure of offshore income and assets

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Undeclared foreign income – 10% or 100% penalty?
This may affect you if you or your spouse have:

A foreign bank account and have not paid tax on the funds lodged to the account or the interest earned by the account.
A foreign investment portfolio (shares or interest in a managed fund) and

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