Entries by ecovis_adm1n_17

PRSA Tax efficient Payment options for Business Owners

The Finance Act 2022 was enacted on 15 December 2022. Amongst other changes to pensions, the Act confirmed that the Benefit in Kind for an employee, which was previously triggered by an employer contribution to a Personal Retirement Savings Account (PRSA), has been removed. This change has come into effect on 1 January 2023 and […]

How Share Schemes can Benefit your Business

In the dynamic world of small and medium enterprises (SMEs), fostering a sense of ownership among employees can be a game-changer. One powerful tool in achieving this is through share schemes. These schemes not only align the interests of employees with the company’s success but also offer tax benefits for both parties involved. Let’s look […]

New Tax Regulations Simplify Reporting for Share Options

Revenue has recently made updates to its share options webpage, reflecting changes introduced by the Finance (No.2) Act 2023, which came into effect on January 1, 2024. These changes significantly impact how individuals report their income tax related to share options, particularly for those under self-assessment. Here’s a breakdown of what you need to know: […]

Interest rate on Warehoused Tax Debt reduced to 0%

In keeping with the many changes to taxation incurred in recent years, The Minister for Finance has recently announced that the interest rate on Warehoused Tax Debt has been reduced to 0%. This comes on the heals of many businesses (particularly in the hospitality sector) closing their doors in recent months, citing exponential pressures as […]

Enhanced reporting requirement (ERR) from 1st Jan 2024

We have some important updates regarding the recent changes introduced by the Revenue Commissioners, impacting the way we report certain expenses and benefits to employees and directors. As of January 1, 2024, the Enhanced Reporting Requirement (ERR) is in effect, requiring employers to report specific details of payments through the ROS system, similar to the […]

Merry Christmas & Opening Dates!

Here at ECOVIS DCA, we would like to thank all our clients for partnering with us in 2023 and we look forward to sharing a successful year ahead. Wishing you all a very Happy Christmas & Wishing you and your business a prosperous 2024! We will be closing for business on Thursday the 21st of […]

Unlocking Success in 2024

As we step into the unknown of 2024, the landscape of business compliance is ever-evolving. As your trusted advisors, we want all of our clients to be well-prepared for the journey ahead. Revenue have recently introduced Enhanced Reporting Requirements (ERR) that demand a closer look for employers. Let’s take a look at the key changes […]

Useful Tips For Your Christmas Parties

As we approach the festive party season, we want to take a moment to emphasise the importance of maintaining a safe and respectful environment during work-related social events. While these gatherings are meant to celebrate the hard work and achievements of the past year, it’s crucial for employers to uphold Health and Safety standards for […]

New requirements to provide a PPSN

In this ever-evolving landscape of corporate compliance, it is essential to keep up to date with all the latest regulations. There have been a great many changes to how business is done, and payments are made in the last couple of months, and it is essential to not fall behind the times on regulations. One […]

What’s the Outlook for Pensions in Ireland Going Forward?

The pension landscape has undergone significant transformation over the past year. Before January 2023, any employer contributions to an employee’s Personal Retirement Savings Account (PRSA) were treated as a Benefit in Kind (BIK), unless the employee hadn’t exhausted their personal contribution limits. In that case, non-BIK employer contributions were allowed. However, as of January 1, […]