Revenue has updated the Tax and Duty Manual which provides guidance on the relief from corporation tax to new start-up companies under section 486C TCA 1997. The relief is computed by reference to Employer's PRSI contributions paid by the company during the year.
The updated guidance reflects changes introduced by Finance Act 2024, whereby relief can also be computed by reference to Class S PRSI contributions paid by certain company directors/owners for accounting periods beginning on or after 1 January 2025. The guidance has also been amended to provide new and updated examples and information on the operation of the relief, as well as a restructuring of the content for ease of reading.
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