New figures published recently by the Revenue show that over 472,000 PAYE Income Tax Returns have been processed for 2023, an increase of almost 30% on the previous year.

Revenue said a total of €203m has already been refunded to people's bank accounts as a result of the 2023 returns filed by PAYE taxpayers so far, while a further €480m may have been overpaid during the year.

One of the big money-saving measures announced in the most recent Budget was the mortgage interest relief initiative - temporary Mortgage Interest Tax Credit (MITC).

Although it was announced last year, it was only in the last few weeks that people could apply for the relief. Potentially it could see homeowners getting up to €1,250 back in their pockets.

In the evolving landscape of global trade, the escalating conflict in the Red Sea presents significant challenges and opportunities for Irish businesses. A geopolitical maelstrom with the power to disrupt the very currents of international commerce. This is not merely a distant skirmish but a clash that sends waves crashing onto the shores of Irish enterprise.

As we step into 2024, understanding the economic landscape becomes crucial for businesses and individuals alike. We look at the anticipated economic patterns affecting Ireland and the broader global market, based on insights from various expert analyses and forecast reports.

The Finance Act 2022 introduced mandatory real-time reporting of certain ‘reportable benefits’ provided to employees and directors. The introduction of this reporting requirement is subject to a commencement order but it is due to go live on 1 January 2024.

In the chessboard of global geopolitics, localized conflicts can have far-reaching economic impacts. The flare-up of hostilities between Israel and Hamas is no exception. As an observer of the unfolding events, it’s crucial to distil the complexities into a cogent analysis of potential economic repercussions, particularly for Europe’s economy.

You may not necessarily need an accountant to prepare your tax return– it really depends on the complexity of your business and your financial knowledge. But one way or the other, if you’re self-employed, you’re obliged to file a return. Here are 8 practical tips to make the process as smooth as possible.

In the world of economics and finance, interest rates are often viewed as the pulse that gauges the health of an economy. Their current structure and cost undoubtedly have a profound influence on economic growth. When we consider the landscape today, one can't help but ponder the long-term ramifications of persistent high interest rates, especially given the vast deficits that many nations carry on their ledgers.

The 10th of October marked the announcement of Budget 2024 with some significant changes coming into effect over the coming months. Download our budget summary below to read what changes may impact you and your business.

The Finance Act 2022 introduced mandatory real-time reporting of certain ‘reportable benefits’ provided to employees and directors. The introduction of this reporting requirement is subject to a commencement order but it is due to go live on 1 January 2024.

In the tumultuous waters of corporate America, the story of General Electric (GE) under the leadership of Larry Culp stands out as a beacon of resilience, strategic vision, and operational excellence. Facing $140 billion of crushing debt and significant operational issues, Culp’s leadership in navigating these challenges offers invaluable lessons for all, especially those in the SME sector.

Effective from the end of 31st August 2023, the special 9% VAT rate for certain services in the industry has been discontinued. As we transition into this new phase, these specific services will be subject to the standard VAT rate of 13.5%.

We're committed to keeping our clients informed about the latest changes in employee compensation and benefits. Below, you'll find a summary of recent updates, including changes to pension enrollment, tax guidelines for pension lump sums, mandatory employer reporting details, and new provisions for leave related to medical care and breastfeeding. Staying updated with these changes is essential for smooth business operations and ensuring the well-being of employees.

When you're sipping a drink by the beach, the last thing you expect is to be urgently evacuated. But that was our reality this summer in Rhodes. Our family's holiday was abruptly cut short, not because of some security threat or health scare, but due to the alarming realities of global warming. It was an eye-opener to witness how it directly impacted the lives of the locals.

The claim period for the Temporary Business Energy Support Scheme (TBESS) ended on Monday, 31 July. Qualifying businesses have until 30 September 2023 to make claims for the calendar months from September 2022 to July 2023. Claims cannot be made after this date.

Recently there were a multitude of intriguing discussions surrounding the always-fascinating topic of interest rates. Lisbon, Portugal played host to a meeting of the minds, attracting an array of esteemed individuals from the European Central Banking circles, all gathered to dissect and predict the movement of interest rates.

Ireland was named the third most competitive economy among the 64 measured in the 2023 World Competitiveness Ranking (WCR). It's an impressive feat, a testament to the tireless work of all individuals operating within Ireland's business ecosystem, and certainly a news item that deserved more attention than it received.

Recently Revenue have sent more than 20,000 letters to non-resident landlords and their collection agents, informing them of the upcoming changes to the administration of withholding tax for non-resident landlords.

Effective from 11th June 2023 (originally 23rd April 2023), directors are required to include their Personal Public Service Number (“PPSN”) when filing certain forms with Companies Registration Office (forms A1, B1, B10, B10a and B69) .

Revenue have issued an updated tax and duty manual in respect of pre-letting expenditure on rented residential premises.

Taxpayers need to be aware of the restrictions on allowable pre-letting expenses when calculating their rental profits. We set out below a summary of the updated guidance.