Diesel Rebate Scheme

The Finance Act 2013 includes provisions for the Diesel Rebate Scheme where repayment of a portion of the Mineral Oil Tax on auto diesel used in certain qualifying motor vehicles will be repaid to qualifying road transport operators. The scheme will apply to purchases on or after 1st July 2013. The maximum amount repayable will be 7.5 cent per litre. The revenue is currently updating ROS to allow for the registration and filing of these returns and hope to have ROS compatible by the end of the year.  For more information see www.revenue.ie.       PDF

Cycle To Work Scheme

The purpose of the scheme is to encourage employees to cycle to and from work. Under the scheme an employer may provide an employee with a bicycle and safety equipment without an employee being liable for benefit in kind subject to a limit of €1,000. The scheme may be implemented under a salary sacrifice arrangement through the employee’s payroll. The full cost must be recovered within a period of twelve months or less. The employee can avail of this scheme once every five years. The bicycle and safety equipment are exempt from tax therefore the employee […]

Local Property Tax – Employers Responsibility

The Local Property Tax (LPT) deadline for filing paper returns has now passed and individuals liable to the LPT have until 28 May 2013 to file the LPT return electronically. When filing the return the Revenue gives property owners the option to pay their LPT for 2013 in one single payment or to phase their payments over the period from July to December 2013. One of the phased payment options being made available is the deduction at source from salary or occupational pension. Therefore employers will be required to make this facility available to their employees from […]

Taxation of Maternity Benefit

From July 2013 maternity benefit is to be harmonised with other benefits. From 1 July 2013 income tax will apply to maternity benefit payments. No USC or PRSI is applicable to maternity benefit payments. Note that this applies to employee’s on 1st July 2013 even if they have been receiving maternity benefit prior to this date. PDF

Employer Job Incentive Scheme

If you are an employer you can save money while giving to the community by creating a job. In fact, we had one lucky client who will save €3,225 over the next 18 months. Read on….. The Employer Job (PRSI) Incentive Scheme exempts employers from liability to pay their share of PRSI for certain employees. The scheme is open to employers who create new and additional jobs.To qualify for the Scheme both the job you create and the person you employ must meet certain criteria. If you qualify for the scheme you will be exempt from […]

Tax Relief for Dependent Relatives

Capital Gains Tax   An individual’s principal private residence, together with land occupied as its gardens or grounds up to a maximum of one acre, is exempt from CGT if the individual has used it as his / her principal private residence throughout his / her period of ownership.   In addition to the above relief, further relief may be available in respect of a gain arising to him / her on the disposal of a house which was used by a dependent relative as that relative’s sole residence. The house must have been provided to […]


There is a common misconception that all benefits from the Department of Social Protection are not taxable. However this is not the case. The following are examples of some benefits which are not liable for tax: Jobseeker’s allowance Maternity benefit (however will be taxable from July 2013). Adoptive benefit Child benefit Bereavement grant Disability allowance Family income supplement The most common taxable benefits arising in practice are job seekers benefit, illness benefit, carer’s benefit, State pension and one parent family payment. Any individual in receipt of benefits from the Department of Social Protection is obliged to […]

Do You Have Holiday Cottage VAT Issues?

Do you have Holiday Cottage VAT issues? Concerns have been raised recently, in connection with Holiday Cottage schemes,  from representatives of  management companies and from owners/investors. Generally VAT has not been considered by either parties for changes made in either the management of the scheme or the owners use of the investment. The key concerns revolve around VAT compliance concerns, VAT liability issues and opt out/termination matters. We can help owners/investors to avoid potential VAT liabilities on their investments and work with management companies in addressing VAT compliance issues in order to provide a VAT neutral […]

Tax Reminder: P35 Submission

The Revenue Online Service (ROS) will not accept a 2012 P35 Annual Return containing a negative USC amount if filed prior to Jan 28 2013. Negative USC can occur when employees receive USC refunds. Therefore a P35 with a negative USC amount must be filed between Jan 28 and Feb15 2013 which is the final deadline date. It appears that you cannot print a p45 if you are unfortunate enough to have an apostrophe in your surname! You have been warned! PDF

Bike to Work Scheme Reminder

If a company decides to implement the Bike to Work Scheme, remember the scheme cannot only be made available to the directors of the company, it must be made available to all employees of the company. VAT cannot be reclaimed by the company on the cost of the bikes or associated equipment i.e. helmets, pumps, etc. More information on the scheme can be found at www.biketowork.ie. Any queries? Please leave a comment or contact me on blog@parfreymurphy.ie.   PDF

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