News

News
10.01.2022

Debt Warehousing Scheme – End of “Period 1”

The debt warehousing scheme was quickly put together by Revenue back in the early days of the Covid pandemic and was a welcome boost to many businesses who could elect to “warehouse” Paye and Vat liabilities.  Originally the scheme was to cover the tax arising in the period while the business was closed plus an…

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22.12.2021

16,000 and Counting

The below piece was written by Tony Carey, Head of Advisory at Cooney Carey.  I want to revisit a topic I first discussed in January 2019, in a pre-Covid world. That topic is “A guide to holding a successful meeting”. A lot has changed since 2019, so I thought it would be helpful to revisit…

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14.12.2021

Contracts for Difference (CFD)

Contracts for difference (CFD) are contracts that obligate either the buyer or the seller to pay to the other the difference between the asset’s current price and its price at the time of the contract’s usage. If this difference is positive, then it is the buyer who needs to pay it to the seller, but…

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01.12.2021

Self Employed Vs Employee: A Walk Through

There is no clear single legal definition of employee or self employed under Irish or EU law. What you do, How you do it and any written or verbal agreements between the parties must be considered in determining the employment status of an individual. It is important to determine the distinction between an employee and…

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18.10.2021

Higher Rate of Stamp Duty on Acquisition of Certain Residential Property

Background In order to discourage the purchase of multiple residential units by any one individual or entity in the context of the current housing crisis and the ongoing shortage of housing for owner-occupier purchasers, a higher rate of stamp duty was introduced on the acquisition of certain residential property.  Section 31E SDCA 1999 charges a…

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15.10.2021

Budget 2022

Highlights for you and your business Budget 2022 was announced by the Minister for Finance and the Minister for Public Expenditure and Reform yesterday afternoon. The focus of this year’s budget is to balance the need for continued supports for businesses as we emerge from the pandemic and also to continue to restore public services,…

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04.10.2021

Central Register of Beneficial Ownerships Trusts (CRBOT)

The recent introduction of EU (Anti-Money Laundering: Beneficial Ownership of Trusts) Regulations 2021 imposes new obligations on trustees of relevant trusts. The purpose of the Central Register of Beneficial Ownership of Trusts is to improve transparency on who ultimately owns and controls Irish trusts and to help prevent money laundering and terrorist financing. In addition…

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27.09.2021

Revenue Forensics and Analytics

Background The Irish Revenue have always been ahead of the curve with the use of information technology and data processing. When you combine this with the vast amount of information the Revenue receives and their ability to analyse and link the same with taxpayers. Revenue Information Sources Revenue has numerous sources of information. The main…

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20.09.2021

Interest Limitation Rule (Anti-Tax Avoidance Directives )

Background The European Commission has requested that Ireland transpose into Irish law the interest limitation rule (ILR) as required by the EU’s Anti-Tax Avoidance Directive (ATAD). Ireland contended that its current interest limitation rules are “equally effective” and notified derogation requests under EU law, which has not been granted by the European Commission.   Interest Limitation…

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