Conlon O'Sullivan Tax Advice

Compulsory Purchase Orders

jconlon — Thu, 02 Feb 2012 16:41:20 +0000

Our New Office

jconlon — Thu, 13 Oct 2011 09:18:29 +0000

We have just moved to a new office in
Pavilion House
31 Fitzwilliam Square
Dublin 2

Phone; 01 7759421

Civil partnership

jconlon — Thu, 07 Jul 2011 10:20:27 +0000

The new tax provisions for civil partnership have been published. They affect a wide range of taxes. Essentially, they allow a legal civil partnership the same tax status as marriage. For example civil partners will be entitled to joint assessment for Income Tax

Smoking areas – good news for taxpayers

jconlon — Thu, 07 Jul 2011 10:17:25 +0000

The s moking ban forced many businesses to erect smoking areas. Hotels and bars had to install large facilities to cater for their smoking customers. These would normally class as buildings. As such, they get no capital allowances. An English court case decided that a large gaebo style smoking area attached to a bar building by metal fixings counted as plant.

As such it is entitled to capital allowances against taxable profits

Business should review this to see if they can make a claim

Premises Providers for VAT

jconlon — Thu, 07 Jul 2011 10:12:26 +0000

People with vacant land or buildings sometimes make them available for sales or auctions and similar events. Owners of premises may also provide them for concerts or other entertainments. These owners need to comply with certain VAT rules where

there are mobile traders not established in Ireland e.g. from Northern Ireland and they will trade for less than 28 days at the venue

Where VAT on an activity is due in the place where it is performed. For example, if a venue owner allows a British promoter to run a concert at his premises, the VAT is due in Ireland.

The premises owner notify Revenue 14 days in advance of the event or trading activity.

If they do not, Revenue may make them jointly liable with the trader or promoter for any VAT due. If the promoter fails to pay the provider will have to foot the bill

New French property tax abandoned

jconlon — Tue, 28 Jun 2011 09:26:30 +0000

Good news for foreign owners of French residential property. The government proposed new tax on non-residents of 20% of the base value used for the taxe fonciaire has been abandoned.

This plan met strong opposition on the grounds that it discriminated against non-residents. The opposition was supported by some French senators.

http://www.ft.com/intl/cms/s/2/9d791744-9dae-11e0-b30c-00144feabdc0.html#axzz1QTMeXucx

French property owners face new tax

jconlon — Thu, 26 May 2011 12:23:06 +0000

In our reading of tax news items we note a proposed new French tax on non-resident property owners. This will be 20% of the property value used to calculate the taxe fonciare, the equivalent of rates.

Discrimination against non-residents would appear to be against EU legislation. owners should consult their French advisers.

Pensions Levy

jconlon — Thu, 26 May 2011 11:58:14 +0000

To fund its part of it’s Jobs initiative the Government is levying a charge on pension funds of .6% of the fund market value at 1st January 2011. The levy will apply to

Occupational Pension Schemes
Personal Pension Schemes
PRSAs

It does not apply to Approved Retirement Funds or Approved Minimum Retirement Funds

There are pension industry concerns in relation to this levy

Ireland’s 12.5% Corporation Tax Rate

jconlon — Tue, 26 Apr 2011 10:13:20 +0000

This rate has come under sustained attack, particularly from France and Germany. They believe it poaches their companies and tax revenues.

Interestingly, in recent times we have seen two other developments

Gibraltar has a 10% tax rate. A decison by the Advocate General in an ECJ case against this rate viwed this rate was legitimate. Gibraltar was its own territorial framework for tax purposes.
Northern Ireland is campaigning for a differential 10% Corporation Tax rate. the U.K. Government is considering this.

Both of these moves lend credence to our position. Also, I recollect that the 12.5% rate was only introducesd when the 0% rate for Exports and Shannon Relief was abolished. these were similar to the new Northern Ireland proposal and were designate as State Aid by the EU

Preliminary Tax 2011 and Universal Social Charge

jconlon — Tue, 26 Apr 2011 09:59:24 +0000

The Universal Social Charge will affect how you pay Preliminary Tax for the 2011 tax year. This will fall due on 31 October 2011.

before the Social Charge you would have had to pay

90% of your 2011 liability
100% of your 2010 liability
105% of your 2009 liability if paying by direct debit, where 2009 liability greater than zero

Now these amounts must include an extra provision for the Universal Social Charge. The charge did not apply for 2010. Therefore, the preliminary Tax should be calculated as if the USC had existed. ROS software is being adjusted to assist the taxpayer in the calculation