First Time Buyer DIRT Refund

Are you a first time buyer (or builder) of a home or apartment in which you will live in Ireland? Have you purchased (or completed) it since 14 October 2014 (and before 31 December 2017)? Have you never previously purchased or built a residential property?

You should check to ensure that you qualify for the Deposit Interest Retention Tax (DIRT) refund.

Refund

The refund is on DIRT paid on savings up to 48 months prior to the purchase date (or build completion date) that are used to purchase or build the residential property.  There is…

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2 useful free Tools for your Business

Some useful free tools that can assist you in making decisions in your business are:

BeSmart Tool developed by the Health and Safety Authority (www.hsa.ie)

This tool assists businesses in carrying out a risk assessment and preparing a safety statement.

Click to access BeSmart site.

TMView to check if the word, logo or slogan is protected.

This…

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COMPANIES ACT 2014 - NEW COMPANIES LAW WHAT YOU NEED TO KNOW

After 15 years of preparation, consultation and revision, a comprehensive new Companies Act was enacted on 23 December 2014. With nearly 1,500 sections and 17 Schedules, this is the largest piece of legislation ever enacted by the Oireachtas. It is expected that the bulk of the legislation will become effective on 1 June 2015. This note sets out a summary of some of the key changes that may be of relevance to you if you are a shareholder, director or a person involved with an Irish company. You will need to take specific advice on how the legislation affects you and your business.

Focus on the Private Company

Up to now, our company law was based on the needs of large public limited companies, but the great bulk of Irish business is done by small private companies.

The new law focuses on the private limited company with shares and…

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Eamon’s dilemma…Who should he leave the farm to?

Eamon is a widower aged 75 and has decided to make his will. He has three children John, Jack and Maura. He is trying to decide who should inherit the farm on his death. He has been a farmer all of his life and has no intention of retiring.

John lives in Dublin and is an accountant and has no interest in farming.  Jack lives nearby and has a successful business as the local dentist.  Maura is a nurse living and working in London for the past 20 years.

Having done some research he understands that there are a…

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Agricultural Relief from Capital Acquisition Tax - the new rules

Additional rules apply to gifts or inheritances of agricultural property taken on or after 1 January 2015 and that have a valuation date on or after 1 January 2015. There is now a focus on giving relief to active farmers.

If a person qualifies for agricultural relief then the person is only liable to tax on 10% of the market value of the agricultural property received in the benefit and obtains 90% of the market value tax free so many persons will wish to qualify for the relief.

The…

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