Budget 2021: What You Need To Know
The 2021 Budget delivered on Tuesday, October 13th by Ministers Pascal Donohue and Michael McGrath was the largest in the history of the state. It sees the establishment of the Covid Restrictions Support Scheme, a scheme that will make weekly payments to businesses impacted by Level 3 or higher restrictions. It sees the introduction of […]
Budget 2021: Business Succession
Our final topic in our pre-budget series looks at the issue of business succession. If 2020 has done anything, it has caused many of us to pause and consider where we are with our businesses and careers. For many of us, that has led to a decision to pass the business on to a family member or a trusted business partner. However, doing so might not have ben as easy as you might have liked or it might be something that is preventing you from taking the step away from your business. […]
Budget 2021: Cashflow & Tax Relief for Businesses
Budget 2021, to be delivered by the Irish Government in early October will be the most keenly awaited budget for a generation. The unprecedented nature of the pandemic and the demands placed upon the exchequer for the the healthcare system, business supports, the pandemic unemployment payment and the TWSS/EWSS has cast the budgetary process into disarray. Now, as the country battles with rising rates of Covid-19 infection, the respective finance Ministers (Pascal Donohue and Michael McGrath) are tasked with delivering measures that shore up public finances while energising the Irish economy. In this, the third article in our pre-budget series, we look at the cashflow and tax relief measures that might be introduced in Budget 2021. As is now common place, many of the measures listed below have been leaked/briefed to journalists in the weeks ahead of the budget in an attempt to prepare the public for what is to be announced. […]
Pay & File Deadline Extended to December 10th, 2020
The Pay & File deadline has been extended to December 10th, 2020 giving businesses an extra four weeks in which to file returns with the Revenue Commissioners. The extension was announced on September 17th in the Revenue eBrief.
The deadline extension has been granted in light of the extraordinary circumstances that businesses have been working under, […]
Budget 2021: Financial Supports for SME’s
Budget 2021, due to be delivered in October 2020, will be keenly watched by entrepreneurs and owners of small to medium enterprises in Ireland. The sector has been severely impacted by the measures implemented to stem the spread of Covid-19. In particular, sectors such as retail, hospitality, and tourism have experienced catastrophic losses as a result of closures and restrictions implemented since March 2020. […]
Budget 2021: Maintaining Employment
The Covid-19 pandemic has had a catastrophic on the Irish employment market. To put this into perspective, let us look at unemployment rates in Ireland in April 2019 and in April 2020. April 2019 saw an unemployment rate of 5.4%, while the rate in April 2020 was a staggering 28.2% (Ref: CSO. Link here). Since […]
Do I Need A Tax Clearance Certificate To Avail of The EWSS?
The Employee Wage Subsidy Scheme replaces the Temporary Wage Subsidy Scheme on September 1st. The retiring scheme saw the Government support over 400,000 people during the pandemic. The new scheme does not have many differences in comparison to the previous scheme. However, employers need to be aware of the qualifying criteria. One of the main […]