There are several tax-efficient options for a director to extract cash from a company. The best option depends on the director’s personal circumstances, the company’s financial position, and the purpose of the cash extraction. Below are the most common and tax-efficient methods: Salary or Bonus Dividends Pension Contributions Directors Loan Termination Payments Share Buyback Liquidation […]
As we step further into 2025, the Irish tax and Revenue landscape continues to evolve, reflecting the dynamic nature of our economy. Here at EcovisDCA, we believe it’s crucial for businesses and individuals to stay informed about these changes to navigate the financial terrain. To effectively prepare for the changes in the Irish tax and […]
Here at ECOVIS DCA, we would like to thank all our clients for partnering with us in 2024, and we look forward to continuing our success together in the year ahead. Wishing you all a very Happy Christmas and a prosperous 2025 for you and your business! Please note, we will be closing for the […]
Amendments in Finance Act 2024 further extend the tax relief available for start-up companies. This relief is for qualifying new businesses, specifically in the companies first five years of trading, provided the corporation tax liability is under €40,000 in those first few trading years. Key points include: Extended PRSI Criteria: From the 1st of January […]
The long-awaited pension auto-enrolment scheme for workers is finally set to launch on 30 September 2025. This date was confirmed by Social Protection Minister Heather Humphreys as part of Budget 2025. In the recent Budget, it was announced that Finance Bill 2024 will provide for the taxation of the Automatic Enrolment Retirement Savings Scheme (referred […]
The income tax return filing deadline is fast approaching! While the normal filing date is October 31, 2024, you have until November 14, 2024, if you file and make the appropriate payment through ROS. This extension applies to: Income tax liability balance due for 2023. Preliminary income tax due for 2024 based on the 2023 […]
As the landscape of tax legislation continues to evolve, it can be increasingly difficult to navigate the tax treatment of various investment types. At EcovisDCA, we are here to help clarify the intricacies of offshore funds and their tax implications. What is an Offshore Fund? An interest in an offshore fund can be identified as […]
For businesses investing in innovation and research, the R&D tax credit can be a game-changer. Whether you’re developing new products, experimenting with cutting-edge technologies, or improving existing processes, this credit offers a valuable opportunity to reduce your tax burden and reinvest in your growth. What is the R&D Tax Credit? The R&D tax credit was […]
In September 2023, Ireland’s Minister for Finance, Michael McGrath T.D., announced an intention to introduce a participation exemption for foreign dividends in Finance Bill 2024. This change aims to streamline the tax landscape in Ireland and is due to come into effect on January 1st, 2025. As the Department of Finance seeks feedback, it’s crucial […]
It’s that magical time of year again. No, not quite Christmas and something sometimes scarier than Halloween. The 1st of October saw the announcement of Budget 2025 by Minister for Finance Jack Chambers. Here we will explore the main points of interest to you and your business. Whilst there was talk of this Budget being […]
