Latest News

Latest News

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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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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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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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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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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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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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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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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Revenue Releases Share Schemes Reporting Return

Revenue eBrief 120/21 was issued on 20 June 2021. It deals with two aspects as follows: The new share schemes reporting return (Form ESA), and  Notification that two new chapters have been added to the Shares Schemes manual. FORM ESA Finance Act 2020 provides for the mandatory electronic reporting of certain share-based remuneration. This includes…

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