Five things you need to know about tax, 26 July 2019

Jul 25, 2019

In Ireland, read about the main recommendations contained within the Tax Strategy Group papers, in the UK, today is the last day to sign up for Making Tax Digital for VAT before the first quarterly filing deadline and in international news, the EU has abolished the import VAT exemption.

       Ireland

  1. The annual Tax Strategy Group papers scoping out tax possibilities for the upcoming Budget 2020, which has been confirmed for Tuesday 8 October, were released last week.  Read the main recommendations
  2. Revenue has created a new Tax and Duty manual to explain who is eligible for the farm succession tax credit and includes practical examples showing how it applies. Read more

     

    UK

  3. Today is the last day to sign up for Making Tax Digital for VAT before the first quarterly filing deadline – don’t leave it too late to sign up
  4. Read HMRC’s latest digital support update

     

    International

  5. From 1 January 2021, the existing VAT exemption for goods imported into the EU with a value of up to €22 will no longer exist. Instead, imports into the EU will have to be declared at the border using an electronic customs declaration. Read more