Revenue has updated its Tax and Duty Manual  for State aid granted to individuals reflecting the new publication thresholds outlined in the Agricultural Block Exemption Regulation and Finance Act 2023. The publication threshold has been reduced from €60,000 to €10,000.

Revenue has updated its Stamp Duty Manual where duty is to be charged on Irish securities which transferred electronically in accordance with Part 6 SDCA 1999.

Revenue has published a new manual containing guidance on section 83DA SDCA 1999. This new section, introduced in Finance 2022, provides for a full repayment of stamp duty where a residential property is sold for the purposes of an affordable dwelling purchase arrangement under the Affordable Housing Act 2021, within 12 months of its acquisition. The section is effective from 1 June 2023.

Revenue has published a new manual containing guidance on section 83DB SDCA 1999. This new section, introduced in Finance Act 2022, provides a partial repayment of stamp duty where residential property is let under a qualifying lease, including lettings to a housing authority or other approved housing body. The new section amalgamates two pre-existing schemes under sections 83E and 83F SDCA 1999 (both now repealed).

Revenue has updated its Tax and Duty Manual on claiming the rent tax credit. The guidance now includes further information for taxpayers using ROS and those using MyAccount. There is also further information on obtaining the Residential Tenancies Board registration number and for landlords who prefer to report directly to Revenue.

Revenue has published a new manual providing guidance on the new online Non-resident Landlord Withholding Tax (NLWT) system. This system will be operational from 1 July 2023. Finance Act 2022 introduced key changes to the withholding tax provisions for non-resident landlords. Whilst the withholding tax requirement has been a long-standing albeit much maligned feature of Irish tax legislation, collection agents or tenants paying directly to landlords are no longer chargeable persons. The new NLWT system will enable tenants or collection agents to make Rental Notifications when making payments to the non-resident landlord. The notification and accompanying payment need to be submitted within 21 days of the rental payment.

The Temporary Business Energy Support Scheme (TBESS) guidelines have been updated in line with the Finance Act 2023 changes. Chartered Accountants Ireland advocated for these changes back in February. The key changes are the extension of the scheme to 31 July 2023, a reduction in the energy costs threshold to 30 percent, and an increase in the overall payment to 50 percent of eligible costs.

The National Economic Dialogue (NED) 2023, is taking place today, 12 June, in Dublin Castle. The theme of the forum, hosted by both the Department of Finance and Department of Public Expenditure and Reform, is “the economy in 2030: enabling a sustainable future for all.” The NED provides a forum for public consultation and discussion ahead of Budget 2024 later this year. The Institute is being represented at the forum by Cróna Clohisey, Tax and Public Policy Lead. Further information on the event including a link to the livestream can be found on gov.ie. We will provide members with information from the event in Tax News next week.

In Irish news, Revenue decommissions regional numbers and amends its Agent’s Guide to the Collector General’s Division. In UK news, read the first in a series of key messages from a recent meeting with HMRC on the Windsor Framework (“WF”) and the Institute’s submission to the House of Lords Protocol Committee inquiry into the WF has been accepted as evidence and is available to read. In International news, Viet Nam deposits its instrument for the MLI. Ireland Revenue decommissions regional telephone numbers, replacing them with a central number for agents seeking service in relation to business taxes. Revenue has amended its 'Agent's Guide to the Collector General's Division' to reflect the latest operational processes and current due dates. UK Read part one of our key messages from a recent meeting on the WF. The Institute’s submission to the House of Lords Protocol Committee inquiry into the WF has now been accepted as evidence and is available to read. International Viet Nam recently deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI).     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.          

Revenue has today confirmed that the facility to make claims under the extended Temporary Business Energy Support Scheme (TBESS), in relation to periods from 1 May to 31 July 2023, is now open. This has been supported by the publication of updated TBESS guidance, to reflect details of the extension of the scheme. Claims relating to the extended periods will automatically be assessed based on the 30 percent energy cost threshold and the relief due will be calculated based on 50 percent of the eligible energy costs incurred by the business. A monthly cap of €15,000 per trade (subject to an overall monthly cap of €45,000) will also be automatically applied to these claims. The TBESS claim portal can be accessed via the e-Repayments system in Revenue’s Online Service (ROS). Businesses who have already registered should update their reference period details in ROS e-Repayments for May - July 2022 in advance of submitting a claim for the periods May – July 2023. Claims for all periods must be submitted no later than 30 September 2023. Eligible businesses that have not yet registered for the TBESS, or have not yet started or fully completed the claim process for any claim periods are encouraged to do so now, given the claims deadline of 30 September 2023. To assist businesses in applying for the scheme, Revenue has recorded a number of ‘How To’ videos, which can be viewed here. As of 25 May 2023, 29,057 businesses have registered for the TBESS and 42,787 claims have already been approved. These approved claims have a value of €94.52 million.    

Last week Chartered Accountants Ireland attended a special meeting of the Northern Ireland Joint Customs Consultative Committee at which Government Officials provided an update on the Windsor Framework. The key messages for current goods movements from the first meeting in February after announcement of the WF remain the same. Other matters of interest are outlined below and we will feature more in Chartered Accountants Tax News over the next few weeks. The Institute has been pressing the UK Government on several EU exit matters for some time now. Updates were provided in the meeting on the Trader Support Service (“TSS”) and the long awaited reimbursement scheme, in addition to some other key areas. Trader Support Service (“TSS”) The message remains that the Government recognises both the significant support the TSS has provided to businesses and the large number of traders that have benefitted from its assistance since 2021. The TSS will continue to support traders throughout 2023 to meet the requirements under the Northern Ireland Protocol. Traders will continue to be supported to understand the new Windsor Framework requirements and what it means for them. Reimbursement scheme The timeline for the scheme to open is summer 2023. Claimants will not need to be registered under the UK Trader Scheme or the new UK Internal Market Scheme in order to claim a reimbursement of tariffs. Evidence must be provided to support reimbursement scheme claims and this must retained by claimants. HMRC will provide examples of supporting evidence in guidance. Bulk claims will be possible. We asked what the expected timeframe for refunds is likely to be and HMRC reflected that as the scheme is likely to see significant demand initially, a timeframe cannot initially be provided. The scheme will apply to reimbursement of tariffs paid on goods classed as being at risk which later become/became not at risk under the original Protocol and on goods which move in the new red lane which should originally have been green lane movements under the Windsor Framework. The time limit in which claims must be made will be standardised after a period of time and set out in guidance. However initially, claims will be possible back to 1 January 2021. A new improved customs duty waiver scheme will also be available via a digital process. More information on the scheme is expected to be available in the next few weeks. New UK Internal Market Scheme The expanded UK Trader Scheme will be known as the UK Internal Market Scheme (“UK IMS”) and is expected to open for reauthorisation of existing UK Trader Scheme users in early June with the scheme commencing from 1 October 2023. The UK IMS will underpin green lane movements. More information on the scheme and how to apply will follow in the coming weeks as will more detailed guidance on green and red lane movements and how these will operate, including the data sets required for each (8 digits for red lane and 6 digits for green lane). The new UK IMS will be open to traders established anywhere in the UK and will enable participants to set up a unique goods profile for their movements.

Earlier this month, the Institute made a submission to the House of Lords inquiry into the Windsor Framework (“WF”) which has now been accepted by the Committee as evidence. The submission focuses on the ongoing need for a permanent solution to the lack of customs intermediaries/capacity in the Northern Ireland market, the vital role of the Trader Support Service and it also highlights the importance of guidance. Not enough detail is currently available on how the new Trade Operating Model (“TOM”) will operate on a practical level, particularly regarding customs and the operation of the new processes for red and green lanes. It is therefore important that HM Government provides operational detail on the new TOM as soon as possible, via detailed guidance (developed in conjunction with stakeholders and containing case study examples), and underpinning legislation, so that businesses can assess before it comes into operation how this impacts on their specific supply chain and prepare accordingly, including identifying any challenges. This is especially important given disparities which have been identified between the UK and EU’s publications on the WF. Any new processes to be introduced must also be tried and tested and some uncertainties also remain around the ‘at risk’ test which other bodies have already highlighted; these must be ironed out before the new TOM is introduced. It is also currently unclear how the many and varied types of goods movements from GB into NI will specifically be dealt with, including goods moving from the EU to GB and onward to NI. Unless detailed guidance is available well in advance, trade disruption is likely to occur and there may be further withdrawal from the NI market by some GB traders. Overall, the WF risks fixing problems for some supply chains only to shift new and different problems, burdens and frictions onto others. Ultimately, until accompanying legislation, detailed policy and guidance, and information on new processes is provided, it is difficult for NI businesses to fully assess and consider the practical impact on trading routes and identify any unintended or knock-on consequences.