TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

CRSS guidelines updated

The guidelines on the operation of the Covid Restrictions Support Scheme (CRSS) were updated last month as follows.

CRSS guidelines

Amendment to paragraph 4.3.5 “Business Amalgamations or Reconstructions”

Details of where the relevant business turnover amount of a business for 2019 will be accepted following a reconstruction or amalgamation, and the documentary evidence Revenue may request.

Update to paragraph 4.3.6 “Relevant business activity carried on by a trust on behalf of an estate”

This section now provides for instances where a person, including a trust, takes over the operation of a business after 1 January 2019.

Addition of paragraph 4.3.7 “Inter-generational transfer of a family business”

There may be circumstances where a business is transferred within the family such that the transferee is now carrying on the same trade in the same business premises with no substantial change to the nature or operation of the business. This paragraph sets out conditions where the 2019 turnover amount may be accepted as the relevant turnover amount.

- Update to Appendix 3 “Public Health Restrictions”

The current level 5 Nationwide restrictions are to remain in operation until 5 March 2021.