Revenue has advised that taxpayers who submit a claim for tax relief on Additional Voluntary Contributions (AVCs) through myAccount are required to upload their AVC certificate. Revenue has also advised that documents will be accepted where the AVC certificate is not available at the time of filing. 

The Department of Finance has published the responses it received to its public consultation on Ireland’s Personal Tax System. In April 2023 the Institute, under the auspices of the CCAB-I, responded on the basis that any review of the personal tax system must take a holistic approach to the Irish tax system. There were 28 submissions to the Department and the full list can be accessed at gov.ie. 

Revenue has updated the Stamp Duty Manual regarding repayment of stamp duty in respect of certain residential units under section 83DB SDCA 1999 which came into effect on 1 June 2023. The updated manual provides detailed guidance on making a repayment claim using Revenue's eRepayments system.  Section 83DB SDCA 1999 provides for a partial repayment of stamp duty paid on the acquisition of residential property at the higher rate of 10 percent where the property is   let to a housing authority/an approved housing body,  designated as a cost rental dwelling for the purposes of the Affordable Housing Act 2021,  registered as a designated centre under the Health Act 2007 or  registered as children’s residential centre under the Child Care Act 1991.  Under this section, a repayment will apply to the difference between the amount of stamp duty paid at the higher rate of 10 percent and the amount of duty that would have been payable had the standard rate of applied. 

Revenue has updated the Help-to-Buy (HTB) Tax and Duty Manual  to reflect changes to the HTB scheme introduced in Budget 2024. These changes came into effect from 11 October 2023.  As part of Budget 2024 housing measures, the Minister for Finance, Michael McGrath TD, announced that the Help-to-Buy (HTB) scheme is being amended to reflect its interaction with the Local Authority Affordable Purchase Scheme (LAAP). This amendment will enable the use of the affordable dwelling contribution received through the LAAP scheme for the purposes of calculating the 70 percent loan-to-value requirement, thereby facilitating greater access to the HTB scheme to all LAAP purchasers. In addition, the scheme is extended to the end of 2025.  The main updates are:   The inclusion of a new section addressing the Affordable Dwelling Contribution to outline how the loan-to-value ratio is calculated for HTB applicants also participating in the Local Authority Affordable Purchase Scheme.   Section 11.2 now clarifies what documents must be uploaded by a HTB applicant. 

Revenue has updated the Tax and Duty Manual which deals with taxation issues for registered farm partnerships. The updated manual reflects amendments introduced in Finance Acts 2022 and 2023.  Finance Act 2022 provides that in order for young trained farmers to avail of the enhanced stock relief rate of 100 percent, they must be the holder of a trained farmer qualification within the meaning of section 654A TCA 1997.  Finance Act 2023 extends the availability of the relief to accounting periods ending on or before 31 December 2024. 

Revenue has confirmed that IREFs must pay and file their related returns by Wednesday 15 November 2023. Revenue has advised that the Form 1 (IREF) 2022 is now available to download. 

Revenue has amended the Tax and Duty Manual regarding PAYE exclusion orders. A new paragraph (5.7) has been concluded in relation to the treatment of employment income of non-resident employees of Irish private sector employers who work both inside and outside the country. Such employees may seek a direction from Revenue that PAYE need only be withheld by reference to the non-resident employees’ Irish workdays only. 

Revenue has launched a new Tax Education portal on its website to assist teachers in educating their students to make sense of and engage with the Irish tax system. The materials provided are free to download and use in the classroom.  

Revenue has informed us that work is ongoing to update the Form CT1 2023 with additional panels to incorporate changes to the R&D tax credit announced in Finance Act 2022. Revenue has advised that companies due to file today should complete the returns without claiming the R&D tax credit. Then, once the amendments are completed, amended returns should be filed to include the R&D tax credit claim at that point. Revenue hopes to make the amended CT1 available in the next few weeks and we will keep you updated via our tax newsletter. 

Our most recent update on this issue set out the discussions which took place with HMRC on 3 October. Since then, discussions have continued and the Institute is now pressing HMRC to remedy the situation given the continued and ongoing economic difficulties being experienced by second-hand car dealers in Northern Ireland in trying to sell these vehicles by the deadline of Tuesday 31 October 2023, in order to avail of the VAT margin scheme. Any further updates on the issue will be reported in the news section of our website. The Institute extends its thanks to those members and businesses who have provided supporting information to facilitate the dialogue with HMRC. 

Finance (No. 2) Bill 2023 was published on Thursday 19 October, providing the proposed legislative basis for measures and changes announced as part of Budget 2024. Our ‘At a glance’ document provides a brief outline of the most relevant issues arising out of Finance (No. 2) Bill 2023. Please see Budget 2024 coverage in our Tax News Budget 2024 special newsletter for details not covered in this summary. The Bill is expected to be enacted by Christmas. 

Antigua and Barbuda, Belize, and Seychelles have all been added to the list of non-cooperative jurisdictions. The list is part of the EU’s ongoing work to promote tax transparency and fair taxation.