News & Publications

01

Revenue publishes guidelines on new Covid Restrictions Support Scheme (CRSS)

Revenue Commissioners, 27.10.2020

Details of the proposed Covid Restrictions Support Scheme (“CRSS”) were published in the Finance Bill 2020. The CRSS is a targeted support for businesses significantly impacted by restrictions introduced by the Government under public health regulations to combat the effects of the Covid-19 pandemic.

02

Debt warehousing - income tax

​Chartered Accountants Ireland, 27.10.2020

Section 63 of Finance Bill 2020 includes provisions which extend the tax debt warehousing measures to income tax for self-assessed taxpayers. The provisions allow for the warehousing of ‘Covid-19 income tax’, where the taxpayer, as a result of COVID-19 restrictions, will experience a reduction in their 2020 income of at least 25 percent, when compared with their income for 2019.

03

At a glance - Finance Bill 2020

Chartered Accountants Ireland, 27.10.2020

Finance Bill 2020 was published last Thursday, providing the proposed legislative basis for measures and changes announced as part of Budget 2021. Our ‘At a glance’ document provides a brief outline of the most relevant issues arising out of Finance Bill 2020. The Bill is expected to be enacted by Christmas.

04

Working from home? See how the updates to the e-Working and Tax manual affect you

Chartered Accountants Ireland, 27.10.2020

Revenue updated the Tax and Duty Manual (TDM) e-Working and Tax to provide clarity on capital expenditure incurred by an employee while working from home and allow for concessional treatment of broadband expenses relating to COVID-19. The manual also provides confirmation that the normal place of work, even in the current circumstances, is the office. Chartered Accountants Ireland, under the auspicious of the CCAB-I, submitted feedback for consideration to the Government’s consultation on remote working earlier in the year, which highlighted the need for reform of the taxation treatment of matters relating to remote working.

05

Level 5 changes to the EWSS and PUP

Chartered Accountants Ireland, 27.10.2020

An Taoiseach, Micheál Martin, confirmed that improvements to the Pandemic Unemployment Payment (PUP) and the Employment Wage Subsidy Scheme (EWSS) would be made to take account of the new Level 5 restrictions, in his speech on Monday night last week. These improvements take the form of a new payment structure for the PUP and a change to payment rates under the EWSS. The frequency of EWSS payments is also accelerated, to align subsidy payments with the employer’s payroll frequency. Chartered Accountants Ireland lobbied for this improvement since the commencement of the EWSS.

06

07

Amending future payment date on ROS

Chartered Accountants Ireland, 27.10.2020

Taxpayers who filed their 2019 Form 11 early can amend their future payment date from the original extension date (12 November) to the current extension date of 10 December.

No BIK on flu vaccination

Chartered Accountants Ireland, 27.10.2020

Following queries raised at a recent TALC meeting, Revenue confirmed that for the 2020 year of assessment, no BIK will arise where an employer facilitates an employee in obtaining a flu vaccination.

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