Revenue has published preliminary statistics on 2023 Local Property Tax (LPT) as of 14 July 2023. The rate of payment compliance is 94 percent and the total amount collected to date in 2023 is €394 million. Approximately €5 million has been collected in respect of newly liable properties. Further information is available here.

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. The latest Trader Support Service bulletin is also available. We also remind you that the deadline for applying for the new UK Internal Market Scheme to ensure applications are processed in time is next Monday, 31 July. Miscellaneous updated guidance etc. The latest documents and publications relevant to EU exit are as follows:- Reference Document for The Customs (Northern Ireland) (EU Exit) Regulations 2020; Report payments and view your allowance for non-customs state aid and Customs Duty waiver claims; Check if you can claim a waiver for goods brought into Northern Ireland; Request Customs Declaration Service data on imports and exports; 4-digit to 3-digit procedure to additional procedure code correlation matrix for imports; Simplified procedures exclusion list of procedure and additional procedure codes for CDS; Appendix 2: DE 1/11: Additional Procedure Codes of the Customs Declaration Service (CDS); Reading notes for Declaration Category Data Sets: CDS Declaration and Customs Clearance Request Instructions; Additions and deductions for Data Element 4/9 of the Customs Declaration Service; Appendix 1: DE 1/10: Requested and Previous Procedure Codes of the Customs Declaration Service (CDS); CDS Declaration Completion Instructions for Imports; Appendix 21: Import Declaration Category Data Sets; Imports and Exports of the Customs Declaration Service (CDS); Data Element 2/3: Documents and Other Reference Codes (Union) of the Customs Declaration Service; Authorised Consignee Temporary Storage (ACTS) location codes for Data Element 5/23 of the Customs Declaration Service; Maritime ports and wharves location codes for Data Element 5/23 of the Customs Declaration Service; Notices made under the Customs (Export) (EU Exit) Regulations 2019; Bringing commercial goods into Great Britain in your baggage; and Notices made under the Customs (Import Duty) (EU Exit) Regulations 2018.

Revenue has published preliminary statistics to 20 July 2023 for the Temporary Business Energy Support Scheme (TBESS). With 29,893 businesses registered for the scheme, claims paid out amount to €107.22 million. Businesses are reminded that TBESS claims for the periods September 2022 to July 2023 must be submitted by 30 September 2023. Further information is available on revenue.ie.

HMRC’s latest schedule of live and recorded webinars is now available for booking. Spaces are limited, so take a look now and save your place. Basis period reform – moving to the tax year basis: book now This webinar provides an introduction to basis period reform and looks at:- The tax year basis applicable from 2024/25 The transitional year to basis period reform of 2023/24; and Overlap relief. Agent services account access groups: book now This webinar looks at access groups within the agent services account including:- about access groups; clients lists and transacting with clients; adding team members; managing access groups; examples; and error messages, filters, and client references. An overview of the new alcohol duty structure and rates: book now From 1‌‌‌ August‌‌‌ 2023, alcohol duty will be charged in relation to the strength of the product as opposed to the product type. This webinar will explain the new alcohol structure and rates, including the reduced rates for draught products An overview of the new alcohol duty structure and small producer relief: book now This webinar will provide a background into the new small producer relief, including eligibility criteria, and how to calculate this. Capital allowances and vehicles: book now This webinar is part of HMRC’s annual Self-Assessment programme covering the rules for cars, qualifying expenditure, pools and rates, and vehicle hire purchase. A recording is also available to register to view of the webinar UK freeports – examples of tax and customs benefit.

Do you use HMRC online services? Don’t be caught out by the planned downtime to some services. HMRC are warning about the non-availability of specific services on the HMRC website, a range of services are impacted. Check the relevant page for information on planned downtime.

Check out the latest items on the Agent Forum. Remember, in order to view each item, you must be signed up and logged in. All agents, who are a member of a professional body, are invited to join HMRC’s Agent Forum. This dedicated Agent Forum is hosted in a private area within the HMRC’s Online Taxpayer Forum. You can interact with other agents and HMRC experts to discuss topical issues and processes.

The OECD will publish its annual review of Asia and the Pacific tomorrow. The publication, “Revenue Statistics in Asia and the Pacific”, presents key indicators tracking progress on the mobilisation of domestic resources and informing tax policies to bridge the financing gap for the Sustainable Development Goals to build sustainable public finances in the wake of the pandemic.

In Irish news, representatives from the Institute met with the Minister for Finance to discuss the CCAB-I's Pre-Budget Submission 2024 and also engaged with Revenue to discuss the new Enhanced Reporting Requirements for Employers. In UK news, read about how agents can action post that they have sent to HMRC which is more than a year old and anyone authorised under the UK Trader Scheme should apply to the new UK Internal Market Scheme by the end of this month. In International news, the OECD agrees an Outcome Statement on the Two-Pillar Solution. Ireland The Minister for Finance met with Institute representatives to discuss the CCAB-I’s Pre-Budget Submission 2024. Institute representatives, under the auspices of the CCAB-I, engaged with Revenue to discuss the implementation of the new enhanced reporting requirements for employers. UK Read in our miscellaneous HMRC updates about the approach to be taken by agents to ask HMRC to action agent post which is more than a year old. HMRC is recommending that anyone signed up to the UK Trader Scheme apply to the new UK Internal Market Scheme by the end of this month International The OECD has agreed an Outcome Statement on the Two-Pillar Solution. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s EU exit corner here.

Representatives from the Institute, under the auspices of the CCAB-I, met with the Minister for Finance, Michael McGrath T.D and his team last week to discuss CCAB-I’s Pre-Budget Submission 2024. The need to simplify the tax system and reduce the administrative burden on businesses was discussed, as were the complexities experienced by small businesses, in particular, when availing of the R&D tax credit, EIIS and SURE. The importance of long-term investment in critical infrastructure, not least housing, in order to maintain Ireland’s position as a competitive place to do businesses was also highlighted. The need to reform the personal tax system to retain and attract talent was also discussed.  

Representatives from the Institute, under the auspices of the CCAB-I, attended the first meeting of the Tax Administration Liaison Committee (TALC) Enhanced Reporting Requirements Subgroup last week to discuss the implementation of enhanced reporting requirements provided for in section 897C TCA 1997. The new legislation, which will be effective from 1 January 2024, requires that employers report certain non-taxable payments made to employees. The ‘reportable benefits’ are travel and subsistence payments, the remote working allowance and the exempt small benefits. Revenue informed the group that it has been engaging with the Payroll Software Developers Association (PSDA) and other software providers to assist in the development of software to enable taxpayers to make the necessary submissions under the new regime. Revenue advised that it identified the various providers following a survey it commenced in January. Revenue is now encouraging employers to contact their software providers to ensure their software will integrate with Revenue Systems. For employers that will not be using software, Revenue is in the process of developing its own reporting platform on ROS, separate to its payroll reporting platform. It is Revenue’s intention that reporting will be done on a real-time basis. At the subgroup meeting, practitioners raised their concerns with the additional costs associated with the new measures as well as concerns around the practicality of real-time reporting. Revenue is planning to engage with employers from September to provide webinars and information sessions on the new system, following distribution of the attached leaflet in the coming weeks. Noting Revenue’s intention to implement the new reporting system from 1 January 2024, our representatives expressed concern at the minimal preparatory time to be given employers and their agents to comply with the new requirements. The Institute has been highlighting to Revenue the onerous and costly administrative burden that this new reporting requirement will cause for all businesses.  Cróna Clohisey, Tax and Policy Lead in the Institute also raised concerns about the system in a piece in the Sunday Independent Business at the weekend. We will keep members updated of developments in this area.  

Revenue has updated paragraphs 11.2 and 11.3 of its Tax and Duty Manual regarding the Universal Social Charge.  The updated guidance clarifies that as employer Personal Retirement Savings Account (PRSA) contributions and employer Pan – European Personal Pension Product (PEPPP) contributions are not subject to PAYE, they are not chargeable to PRSI.

Revenue has updated the Tax and Duty Manual to reflect the Finance Act 2022 amendments for PEPP providers. Now, where a declaration under section 263F TCA 1997 has been provided to the deposit-taker, interest on a deposit of a PEPP provider that is an asset of a PEPP can be paid gross (i.e. without deduction of DIRT).