The Central Bank has revised downwards slightly its forecasts for growth in the domestic economy this year, but still expects that it will continue to grow at a moderate pace over the next three years. The bank is now predicting that Modified Domestic Demand (MDD) will expand by 2.2% this year, down from its forecast […]
Read More… from Central Bank revises down forecast for domestic economy this year
The average interest rate on new mortgages in Ireland rose in January, according to new data from the Central Bank. At the end of the month, the average rate was 4.27%, up 0.08% from a month earlier. It means rates on new mortgages in Ireland are now the seventh most expensive in the euro area, […]
Read More… from Mortgage rates rose in January to seventh highest in eurozone
The European Parliament has given the final nod to far-reaching rules on artificial intelligence that the EU hopes will both harness innovation and defend against harms. The law, known as the “AI Act”, was first proposed in April 2021 by the European Commission, the EU’s executive arm. But it was only after Microsoft-funded ChatGPT burst […]
As the OECD’s deadline for finalising major reforms to the global tax system draws near, the Irish government recently opened a public consultation on the deal as it considers its future: Ireland is notably one of the holdouts on the agreement, which has seen some 131 countries sign up to the deal that includes setting […]
Read More… from Ireland Stares Down Major Changes to its Tax System
Our second newsletter of 2021 is available to download for free from the newsletter section of our website CLICK HERE. This edition covers the following topics – a sense of optimism – currency risk management in covid times – alternative finance options – ransomware – along with the usual tax, business and legal briefs Regards The […]
Revenue issued updated guidance on the impact of Debt Warehousing where a director/employee holds a material interest in a company. In summary, if your employer has warehoused and not paid its PAYE liability in full, then a director/employee that has a material interest in the company will not be entitled to a full credit for […]
TWSS Reconciliation’s have now been issued by Revenue and should be available on ROS under Additional Services. You should review the amount due, and if correct, accept the reconciliation and arrange to pay the correct amount. If you dispute the amount you should use ‘upload subsidy paid’ option in the reconciliation page If you require […]
Our first newsletter of 2021 is available to download for free from the newsletter section of our website CLICK HERE. This edition covers the following topics – the year ahead – income protection for individuals and business owners – succession planning – brexit opportunities – along with the usual tax, business and legal briefs Regards The […]
In July 2020 the Government announced a stimulus package including a a six month reduction of the standard rate of VAT to 21% from 1 September 2020. That six month period is expiring on 28 February 2021 and the standard rate of VAT will revert to 23%. You should ensure that your systems are updated […]
Our managing director, John Mac Nally, provides some practical tax advice on reliefs available for business owners who are retiring at a recent webinar with Investwise Financial Planning Limited You can view this webinar at […]
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