STARTING A NEW COMPANY AND WANT TO OBTAIN AN INCOME TAX REFUND. SURE
SURE START UP REFUNDS FOR ENTREPRENEURS.
Tax refunds may be available for PAYE income tax paid in the previous 6 years before the year in which you invest in a new start up company that meets the conditions specified for the refund.
This is a tax incentive for those with PAYE income to start up a new business and become a director and/or employee of the new business.
The business must be established through a company.
The refund available will depend on the amount of capital you invest in the new start-up company.
The refund will be of PAYE income tax previously paid.
There is no refund of PRSI or USC previously paid.
The refund available is up to 41% of the capital you invest in the new company.
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The material in this article is for general information purposes only and does not constitute legal or taxation advice. Specific legal and taxation advice should be sought before acting. All information and taxation rules are subject to change without notice.
No liability whatsoever is accepted by M. McLoughlin & Co. for any action taken in reliance on the information in this article