Five things you need to know about tax, 19 March 2021

Mar 19, 2021

In Irish tax developments, the Small Business Assistance Scheme for COVID is open for applications, providing up to €8,000 of assistance to businesses ineligible for the Covid Restrictions Support Scheme (CRSS). Revenue also published guidance on postponed accounting entries on the VAT3 Return and VAT Return of Trading Details.  On the UK front, read the Institute’s response to the consultation on Making Tax Digital for Corporation Tax. While in international tax, the European Commission launched a public consultation on taxpayers’ rights.

     Ireland

  1. Businesses ineligible for the CRSS may be eligible for the €60 million Small Business Assistance Scheme for COVID, first-round applications are being accepted by Local Authorities until 21 April 2021;
  2. See where to include postponed accounting entries on the VAT3 Return and the VAT Return of Trading Details;

    UK

  3. Chartered Accountants Ireland questions the need for Making Tax Digital for corporation tax in its response to this consultation;
  4. Read this week’s update on the various HMRC administered COVID-19 supports; and

    International

  5. The European Commission has launched a public consultation on taxpayer’s rights, designed to collect information on direct tax related problems facing citizens when exercising their freedoms in cross-border activity.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter.