If you want to avoid difficulties with the Revenue Commissioners regarding mileage and subsistence claims you will find further information here. Motor Travel Rates per kilometre Distance Bands Engine Capacity up to 1200cc Engine Capacity 1201cc to 1500cc Engine Capacity 1501cc and over Band 1 0 – 1,500km 37.95 cent 39.86 cent 44.79 cent Band 2 1,501 – 5,500 km 70.00 cent 73.21 cent 83.53 cent Band 3 5,501 – 25,000 km 27.55 cent 29.03 cent 32.21 cent Band 4 25,001 km and over 21.36 cent 22.23 cent 25.85 cent   Reduced Motor Travel Rates per kilometre […]

Mileage and Subsistence Changes 2015?

The European Court of Justice (ECJ) ruled in Sept 2105 that workers (e.g. sales executives) who do not have a fixed office are entitled to count time spent travelling from home to the first meeting of the day and the journey from their last meeting to home in the evening as work time. Accordingly this time must be included in working hours, rest breaks and pay when they are being calculated. The ECJ decision may result in the Revenue Commissioners changing the current application of the rules governing expenses. They are clamping down severely on payment […]

Tax Relief for Tuition Fees 2014/2015

Tax Relief on Tuition Fees

For approved courses at approved third level education colleges there is a tax relief for fees paid. An individual can claim tax relief on fees paid in respect of any person as long as the qualifying fees have been paid. Qualifying fees means tuition fees including the Student Contribution but excludes registration fees and examination fees. The maximum limit on qualifying fees for the academic year 2014/2015 is €7,000 per individual per course. This limit is reduced by €2,750 for a full time student and €1,375 for a part time student. If fees for the academic […]

Benefits in Kind and Revenue Audits

Based on our recent experiences with Revenue Audits it has transpired that a particular area of Revenue interest is whether benefits-in-kind have been taxed through the employer’s payroll correctly or if at all. Subject to certain exceptions, benefits-in-kind including private use of a company car, free or subsidised accommodation and preferential loans from an employer to an employee whose total remuneration (including benefits-in-kind) is €1,905 or more in a tax year are taxable. Where the employee receiving such benefits is a director of the company concerned, the benefits are taxable regardless of the level of remuneration. […]

Mileage and Subsistence Update at November 26 2012

The tax free reimbursement of motor and subsistence expenses is becoming an area of increased focus for Revenue Audits which is resulting in companies being liable for interest and penalties due to non compliance with the regulations. Basic Rules Where directors and employees necessarily incur expenses of travel and subsistence (relating to the travel) in the performance of the duties of their office or employment the reimbursement of such expenses may within certain limits be made tax free.  The following conditions must be met: The director or employee must be temporarily away from their normal place of work […]

Jobs Initiative May 2011

The Minister for Finance, Michael Noonan, announced the Jobs Initiative on 11 May last which is designed to stimulate job creation. It includes the following measures in relation to business and employment taxes:   Abolition of employers PRSI on share based remuneration Temporarily halving the lower rate of employers PRSI for certain employees Amending the R&D tax credit regime to enhance flexibility in how companies account for the tax credit Temporarily reducing the 13.5% VAT rate to 9% in respect of tourism related services .   Employers PRSI . Share based remuneration The Finance Act 2011 […]

Changes to the Operation of RCT

Relevant Contracts Tax (RCT) applies to payments made by a principal contractor to a subcontractor under a relevant contract in the construction, forestry or meat processing industry. See for more information on how RCT works for a principal contractor. The Finance Act 2011 has introduced changes to the operation of RCT and the key elements of same are as follows: Replacement of the current RCT rates of 0% and 35% with a three rate scheme: 0% rate which will apply on the same basis as currently applies to a C2 holder. Criteria include compliance with tax obligations for […]