Tax Compliance Services
Let our team handle your tax compliance needs
Value-Added Tax is one of the best known of all taxes partly because most EU citizens pay it almost on a daily basis, sometimes being made aware of their payments on invoices and receipts and sometimes, such as in bars and restaurants in the Republic of Ireland, not being reminded of it at all. Registration for VAT is obligatory for persons supplying services to the value of €37,500 or more per annum or €75,000 per annum in the case of goods.
PRSI Rates and Levies
Pay Related Social Insurance is widely viewed as a tax but it is also the method of social insurance which gives rise to entitlement to contributory pensions and other benefits. Where Income Tax is paid under the Pay As You Earn system operated by employers, the employee share of the Pay Related Social Insurance is deducted together with the employee Universal Social Charge and these, together with the Employer Contributions, are paid over to the Revenue Commissioners as part of the payroll system. We operate payroll systems for some of our clients which large companies normally operate themselves.
The best known of the personal taxes is Income Tax which operates on the basis of the calendar year as the year of assessment. Individuals must file a Return of Income for each tax year not later than October 31st in the year following the tax year. There are concessions for those who file online. If a Return for any year of assessment is not submitted or submitted late, the tax liability for that year is subjected to a Surcharge.
All companies resident in the Republic of Ireland and all non-resident companies carrying on business in the Republic of Ireland through a branch or through an agency tend to be automatically liable to Corporation Tax. The best known of the Corporation Tax Rates is 12.5% applicable to business profits but there are also the 10% rate applicable to manufacturing companies and certain IFSC and Shannon Airport zone companies and the 25% rate payable on non-business income such as interest and dividends.
The best known Capital Taxes are Capital Acquisitions Tax and Capital Gains Tax. Capital Acquisitions Tax applies to gifts and inheritances above certain class thresholds. The highest threshold applies where the beneficiary of the gift or inheritance is a child of the disponer. There is a smaller threshold for a lineal ancestor or descendant, and the smallest threshold applies where the beneficiary is not entitled to either of these two. Capital Gains Tax is payable on gains which arise on the disposal of assets, and it needs careful attention because a disposal may occur even if no capital sum is derived from the disposal, typically a disposal by means of a gift or on exchange.
As a founding member of the Irish Tax Institute and a practicing tax professional for thirty-five years, I'm confident - whatever the tax scenario - that I will be able to provide insight and relevant advice... Padraic Cahill, tax partner.
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They are fully cognisant of Irish and international Generally Accepted Accounting Practice, and the current International Financial Reporting Standards
Tax Compliance Services
Our staff have vast experience over all tax-heads. Let our team handle all your tax compliance needs , ensuring that your returns are always filed on time
Tax Planning and Wealth Management
As the world faces uncertain times let our tax professionals assist you in managing your wealth in the most tax efficient manner
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