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TaxFax - 24 July 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-07-24
July Jobs Stimulus announced … July Jobs Stimulus 2020 … The July Jobs Stimulus is part of the government’s efforts to support the recovery of the Irish economy and help restore employment following the impact of the COVID-19 restrictions. Later this year the government will set out a National Economic Plan, to coincide with Budget 2021 in October, which will... … July Jobs Stimulus 2020 webpage
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TaxFax - 4 September 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-09-04
Revenue’s slide presentation covered a wide range of topical issues including; the structure of each division; changes to and tips on completing the 2019 Form 11; plans for the PAYE End of Year Review; TWSS reconciliation, the July Jobs Stimulus measures - including EWSS, accelerated loss relief, the Stay and Spend Tax Credit, debt warehousing, Phased Payment Arrangements, and obtaining tax clearance. The slides are now available at the link below. During the presentation and Q&A, Revenue provided important clarifications in response to the most... … ...tax clearance status can check their status on the eTax clearance system and see the result in “real-time” to identify any actions that may be required to obtain clearance. Maintaining tax clearance on an ongoing basis is a requirement of the EWSS (and other supports in the July Jobs Stimulus). However, Revenue will not automatically rescind clearance if, for example, one return is not received by the due date. Revenue will advise the taxpayer if they intend to withdraw clearance so that the taxpayer can take steps to rectify the matter. Maintaining the payment of current... … Revenue has created a new Manual on the Stay and Spend Tax Credit, which was announced in the July Jobs Stimulus. The Stay and Spend registration process is now open and the Manual includes a step by step guide for eligible service providers on registering for the scheme.
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TaxFax - 7 August 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-08-07
Revenue publishes further information and Manuals on tax measures in the July Jobs Stimulus   … Yesterday, 6 August, Revenue published detailed information on a range of the tax measures which were announced in the July Jobs Stimulus and included in the  …  https://www.revenue.ie/en/corporate/press-office/press-releases/2020/pr-060820-revenue-provides-further-information-on-tax-measures-outlined-in-july-job-stimulus.aspx?_cldee=eW1vcnJpc0B0YXhpbnN0aXR1dGUuaWU%3d&recipientid=lead-07ef54d6c6fce911a813000d3a20f3f8-784350ad8e29443281b053aee5591620&esid=9a0c165f-ced8-ea11-a813-000d3a20feae
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TaxFax - 11 September 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-09-11
The President highlighted the pressures on business and the tax profession at present and the disruption to the preparation of tax returns for the main compliance deadlines, given the time being dedicated to assisting clients to qualify for the Government supports in the July Jobs Stimulus; staff and clients working remotely and the difficulties experienced in collecting paper-based records needed to prepare tax returns. She explained the need to alleviate the normal surcharges for late filings to give practitioners the breathing space they need to help their clients to be tax compliant.  …  to businesses, per eligible employee hired, or redeployed within the business, to a dedicated customs role. This has been funded from a €20 million Brexit Fund made available under the July Jobs Stimulus.
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TaxFax - 14 August 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-08-14
.... By applying now, they will be able to confirm their entitlement to tax clearance or will be given full information on the outstanding tax returns or tax debts that they will need to resolve to get tax clearance. Mr. Howley also reminded businesses on the provisions in the July Jobs Stimulus to deal with debt, in particular the debt warehousing arrangement and the provision to enter into a Phased Payment Arrangement by 30 September and qualify for a 3% rate of interest on outstanding debt.  … Revenue updates Help to Buy Manual to include changes in July Jobs Stimulus
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TaxFax - 31 July 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-07-31
July Jobs Stimulus 2020 Summary of Taxation Measures …  https://www.revenue.ie/en/corporate/communications/documents/july-jobs-stimulus.pdf?_cldee=eW1vcnJpc0B0YXhpbnN0aXR1dGUuaWU%3d&recipientid
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TaxFax - 9 October 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-10-09
...while, at the same time, working intensively to comply with the myriad of other deadlines relating to CRO filings, Phased Payment Arrangements, TWSS compliance checks and reconciliation requirements. We asked the Minister to re-examine the measures for businesses with cash-flow difficulties that were introduced in the July Jobs Stimulus to find a way to ensure taxpayers are not penalised by their inability to meet the 31 October income tax deadline.
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TaxFax - 13 October 2020 - Budget 2021

Bulletins, Reports and Submissions Irish Tax Institute
2020-10-13
The Minister for Finance has extended the enhanced Help to Buy (HTB) scheme that was announced as part of the July Jobs Stimulus. The level of support available to first time buyers was increased to the lesser of €30,000 (up from €20,000) or 10% (up from 5%) of the purchase price of the new home or self-build property for the period from 23 July 2020...
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TaxFax - 22 October 2020 - Finance Bill 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-10-22
The Minister for Finance announced a temporary enhancement to the Help to Buy (HTB) scheme as part of the July Jobs Stimulus to increase relief to the lesser of €30,000 (up from €20,000) or 10% (up from 5%) of the purchase price of the new home or self-build property for the period from 23 July 2020 to 31 December 2020. In the Budget, the...
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TaxFax - 2 October 2020

Bulletins, Reports and Submissions Irish Tax Institute
2020-10-02
last week, Minister Donohoe acknowledged that the scheme was announced in the July Jobs Stimulus in anticipation of a full reopening of the economy. The Minister has said he will be monitoring the scheme, to see how it is working
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