Many workers in the construction industry returned to work on Monday. The Pandemic Unemployment Payment (PUP) is taxable in real-time in 2021. This means that there are tax implications for workers returning to work after being on the PUP for the last number of months. The worker is allocated zero tax credits on a week one basis until the Department of Social Protection (DSP) exchanges information with Revenue confirming that the worker’s PUP claim is closed. At that point, Revenue will issue a revised Revenue Payment Notification to the employer reinstating the employee’s full tax credit and rate band on a week one basis.  The worker should close his/her pandemic unemployment payment application on the DSP website on the first day he/she returns to work. It will take at least two weeks for the DSP to issue Revenue notification that the worker is no longer claiming the PUP. When Revenue has the relevant notification, it will then issue an updated RPN to the employer. Employers should avoid running payroll in advance of the pay date for the purposes of working off the most up to date RPN which gives the worker his/her full credits on a week one basis. A full example with dates and timelines is set out in a presentation by Revenue. 

Our ROI Boot Camp Challenge is a fully 'gamified' online business simulation where senior cycle second level students become CEO of their own business. Aspiring entrepreneurs who complete the Challenge will acquire essential decision-making and critical thinking skills and gain valuable experience about real-life business leadership. Not just for students who are interested in business subjects, the Challenge is suitable for any student who has an interest in problem solving, creative thinking and analysis. There are prizes for individual, team and class entries. The closing date for entries is 5 May and winners will be announced at the end of May, so you can get started now, either as a class group or a solo student. Good luck! Read more about the Boot Camp programme here What former Boot Camp participants have said "I'm a fifth year student. When I came across Boot Camp, I realised that it is a great opportunity for me, as I am doing accounting for the Leaving Certificate.  "What I really loved about Boot Camp was that I could learn at my own pace, and the teaching helped me to get a clearer understanding of the topics that had been covered in school. The notes are detailed and to the point. I also found the homework questions very helpful. Also, Boot Camp provides an optional challenge for the participants, which gives them a deeper insight into the situations of a business in real life.  "Overall, I really enjoyed Boot Camp. If anybody is thinking to try Boot Camp, I would certainly recommend it, especially if you are interested in pursuing accounting. I hope you will try it out and enjoy it as much as I did." - Emil, 5th year student, Boot Camp participant 2021 “I really enjoyed taking part in Boot Camp. I am in Transition Year and did not do business for the Junior Cycle but I wanted to take up Accounting for the Leaving Cert. Boot Camp gave me a great taste for Accounting and I feel a lot more confident going into fifth year after completing it. I feel like after the short week-long course I have caught up to my classmates who did study Business in the Junior Cycle, and I now know what to expect next year!” - Anna, TY student, Boot Camp participant 2020 "This is a fantastic resource to be able to give to Transition Year students, some of whom might otherwise find it difficult to start accountancy at senior cycle with no business background. It is very well done, very well laid out and very understandable, even for those who haven’t done business before.    "The resources are brilliant – the technology is very interactive, giving students the freedom to click in and out of activities. It’s new and engaging for them. As a teacher, I like that I can let them learn using the videos and can provide back up if they need it.”   - Charlotte, TY Coordinator and teacher        

Tax and Duty Manual VAT & Employees' Pension Fund  provides further clarification on the circumstances where an employer can claim a VAT deduction for costs incurred in relation to an employee pension fund. Where the regulatory requirements for pension funds require the pension trustees to contract with the service provider directly or enter into a tripartite agreement, although the employer directly pays the service provider, the invoice may be made out in the name of the pension fund trustees. Difficulties arise as the employer does not have a valid VAT invoice for VAT recovery on these costs. Paragraph 2.1 of the manual now details that in such circumstances, Revenue accepts that the employer may deduct the VAT incurred on costs to set up and manage a pension scheme where the below conditions are met: The costs of the input transaction form part of the employer’s general costs and must be, as such, components of the price of the taxable goods or services it supplies. The employer is responsible for payment of the services that are supplied under the contract and pays the service provider directly. This arrangement should be demonstrated by way of a written agreement between the employer and the pension fund trustees. The employer does not, directly or indirectly, get reimbursed in respect of payment of the costs. The invoice includes the words “for the account of [name of the employer]”. The employer and pension fund trustees must ensure there are clear controls in place to verify that there is an entitlement to recover the input VAT in respect of the costs incurred and a disclaimer by the party not claiming the input credit. See eBrief No.059/21 for further details.