Tom Maguire | Business Post

Tom Maguire

tommaguire

Contributor

Keeping up to speed with range of changes to company car tax

The move to a CO2-based benefit-in-kind system level to determine company car tax incentivises the use of electric vehicles and lower emission cars while temporary tax reliefs are available for higher-emitting vehicles

EIIS and KEEP must be made more effective and accessible

Scale Ireland’s State of Start-ups Survey 2023 made it clear that the two schemes are vital but need to be reassessed

Cooperative Compliance Framework opens up useful communication channels

CCF is voluntary, but there are benefits to both businesses and Revenue where a corporate group signs up

Partner Content

Tom Maguire: New challenges for firms faced with increasingly complex tax audits

When managing tax obligations, it’s important that businesses understand the changes under Revenue’s updated code of compliance

Time is of the essence in applying for business energy subsidies

There is a monthly cap on the Temporary Business Energy Support Scheme that provides for a cash payment to qualifying businesses, and time limits for claiming support

Tom Maguire: Why it’s important to KEEP going on employee share options

Amendments to the Key Employee Engagement Programme qualification conditions and extension of the scheme to 2025 are positive moves, but there’s still room for improvement

Tom Maguire: Finance Bill’s changes to R&D could go further for start-ups

Boosting the tax credit for SMEs to 30 per cent was mooted in an earlier bill, but to do so, some EU legal hurdles would first have to be overcome

Budget tax changes: devil will be in the details of Finance Bill

If a reduction in the overall capital gains rate is not possible then consideration should be given to a reduction in the rate applicable for gains arising on the disposal of investments in SMEs

Tom Maguire: Firm advantage to changing rules around tax credit refunds for R&D

Budget 2023 presents an opportunity to change the way tax credits are applied to encourage more R&D to take place in Ireland. After all, the next Big Tech superstar could result from such encouragements

How to entice SME staff to take up and Keep share options

The Tax Strategy Group has some good suggestions on how to make the much-needed Key Employee Engagement Programme more user friendly

Tom Maguire: For investors, simplicity eats complexity for breakfast

To make Ireland more attractive for investment, we must tackle the pre-existing tax laws that make the Interest Limitation Rules such an unwieldy beast

Making the tax system simpler and fairer will benefit everyone

The IMF’s recent report on the Irish economy has some interesting observations and suggestions about broadening our tax base and simplifying our tax system

As budget looms, we must strive to incentivise the SME sector

While we may disagree with the EU on certain tax measures, we can’t disagree when it says that ‘SMEs are the backbone of Europe’s economy’

Tom Maguire: Playing for KEEPs gives SMEs some added skin in the game

The Key Employee Engagement Programme has the potential to become a real selling point for talent, but the stringent terms and conditions behind it need to change

Tom Maguire: What a tangled web we weave when we take on EU tax law before simplifying our own

A new European directive aims to redress the imbalance in debt/equity investing, but here in Ireland, achieving a tax deduction for interest on debt financing is already galactically complex

Tom Maguire: Revenue’s input critical as global rule changes present challenges

While headway was made last year on complex EU tax issues, it is still an evolving area and guidance is essential if new measures are to be implemented

Tom Maguire: The cryptic tax rules that surround bitcoin and its ilk

There are no specific rules in connection with crypto-assets, and therefore any transactions in them need to be carefully analysed

Tom Maguire: How our tax regime could sweeten the pill for future R&D

A tax credit won’t be R&D’s driving force, but it can be a factor in determining where such R&D happens – so our tax rules need to be sufficiently attractive for it to be carried on here

Tom Maguire: Close company tax rules can make the ‘innocent suffer for the guilty’

The Revenue now has other measures to counter tax avoidance, and could ease off on its 18-month profit payout rule, which can punish owners for reinvesting in their business

Tom Maguire: Territorial gains to be won from tweaks to foreign income tax

The laws on taxing foreign income are complex and any moves to change and simplify the system will be welcomed by businesses, investors and the tax authorities