Bookkeepers Ireland News

News and Information for Bookkeepers on Bookkeeping and related topics such as tax, computers and payroll
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Published on Tue 10 of Jan, 2017
Revenue eBrief No. 05/17: Fisher Tax Credit

Section 5 of Finance Act 2016 introduced Section 472BA into the Taxes Consolidation Act 1997. Section 472BA provides that a tax credit (to be known as the ‘Fisher Tax Credit’) will be granted to individuals who satisfy the qualifying conditions of the section.

The Fisher Tax Credit applies from 1 January 2017 and may be claimed by Irish residents assessable to income tax under Schedule D or Schedule E, (i.e. employed or self-employed).

A Tax and Duty Manual, Part 15-01-45 (78KB), has been published setting out the details of the new tax credit.
Published on Tue 03 of Jan, 2017
Revenue eBrief No. 02/17: Improved online services for PAYE customers

Revenue has improved its online service offering for PAYE customers. It builds on the services previously available in our PAYE Anytime service.

The improved service can be accessed in myaccount or ROS by:

  • Clicking on the 'Manage your tax 2017' link on the new 'PAYE Services' card in myaccount.
  • Clicking on the new 'PAYE Services' icon in ROS

Further information on the improved service is available at: Important Notice for PAYE Customers: Enhancement of our PAYE Services in myAccount .

Our PAYE Services page has been updated to reflect the changes
Published on Wed 21 of Dec, 2016
Revenue eBrief No. 101/16: Updated USC manual

The USC Tax and Duty Manual Part 18D-00-01 (PDF, 209 KB) has been updated to reflect the changes of rates and rate bands announced in Budget 2016. These new rates and rate bands apply for the tax year 2017 and subsequent years.
Published on Fri 16 of Dec, 2016
Revenue eBrief No. 99/16: Introduction of additional taxonomies in iXBRL – FRS 101, FRS 102 and EU IFRS for submission of electronic financial statements

For certain Corporation Tax filers it is mandatory to file financial statements in iXBRL format. To date, filing of financial statements in iXBRL format was by reference to the GAAP and IFRS taxonomies accepted by Revenue. These taxonomies are available via the XBRL Ireland website . From the date of this eBrief, additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) are accepted by Revenue. These taxonomies have been published as Public Working Drafts on the XBRL Ireland website to allow for a period of consultation (see note below on consultation period & feedback)

The iXBRL Frequently Asked Questions page on the Revenue website has been updated to reflect the acceptance of the additional taxonomies.

A Change Document (378KB) is available detailing the changes made.

Tax and Duty Manual Part 41a-03-01 (950KB) has been updated to reflect the additional taxonomies accepted by Revenue.

Queries regarding this matter can be referred to Revenue’s dedicated helpdesk for iXBRL matters at iXBRL at revenue.ie or to the relevant local Revenue Office.

Consultation period and feedback

It should be noted that interested parties are invited to review the Public Working Drafts (PWD) for the three additional taxonomies and provide feedback by 28th February 2017. Further information on the consultation process and how to submit feedback is available on the Revenue webpage at Submission of Financial Statements in iXBRL under Consultation on Taxonomies.
Published on Wed 14 of Dec, 2016
Revenue eBrief No. 98/16: VAT on services supplied to property lessees through landlords (service charges)

The Q&A VAT on Property Rules on the Revenue website has been updated to reflect Revenue’s position that a landlord, who has availed of the administrative practice accepted by Revenue to invoice for 'shared services', can apply the zero rate of VAT to the supply of those services to a VAT registered tenant who holds an authorisation in accordance with section 56 of the VAT Consolidation Act, 2010.
Published on Mon 12 of Dec, 2016
Revenue eBrief No. 97/16: Revenue’s new mobile app – RevApp

Revenue’s most recent addition to its suite of online services is RevApp. RevApp is a mobile app, provided by Revenue, to help customers manage their tax affairs 'on the go' and is available to download free from the Apple App Store and Google Play Store . A Windows version will also be available shortly.

RevApp provides customers with quick and easy mobile access to the following online services:

  • myAccount – online services for customers not registered for ROS
  • ROS – online services for self-employed and business customers
  • Receipts tracker - the easy way to record and manage receipts for your expenses
  • MyEnquiries – online contact facility that allows you to securely send and receive correspondence to and from Revenue;
  • Calculators and tools – online tools to help you calculate taxes such as Pay as you Earn (PAYE), Local Property Tax (LPT) and Vehicle Registration Tax (VRT).

This new Receipts tracker service, which is also accessible in myAccount and ROS, allows customers to record and manage receipts for their expenses including health expenses. Customers can also download receipts details and/or images in PDF format and this facility is very useful for customers whose returns are submitted by a tax agent.

Further information is available on the Revenue website at: RevApp and Receipts Tracker .
Published on Fri 25 of Nov, 2016
Revenue eBrief No. 95/16: Single Euro Payments Area (SEPA) Payments

Revenue wishes to advise customers of an upcoming change to SEPA payment processing timelines in respect of bank accounts that are used to pay taxes via the Revenue Online System (ROS) and via myAccount for non-ROS customers.

Under current SEPA arrangements, which have been in operation since January 2014, it takes seven working days to debit a bank account that has not been previously used to pay taxes while it takes four working days to debit an account used on a recurring basis.

With effect from Monday 28 November 2016, the processing timeline to debit both ‘first time’ and 'recurring' bank accounts used via ROS and myAccount to pay taxes will be reduced to three working days.

Customers should, from Monday 28 November, ensure they have sufficient funds in their bank accounts to meet the payment amounts within the shorter processing timeline.
Published on Tue 08 of Nov, 2016
Revenue eBrief No. 93/16: Employer Notification - PAYE end-of-year filing requirements for 2017 and subsequent years

The Revenue Commissioners wish to give advance notification to payroll software developers and others who manage their own payroll systems that additional information will be required to be included in the PAYE end-of-year returns (Form P35) for 2017 and subsequent years.

The additional information consists of 2 monetary value fields, as follows:

1. Company Share-based Remuneration

This is share-based remuneration consisting of shares in the employer company or a company that controls the employer company that is included in 'Taxable Pay (this employment)'

2. Taxable Benefits

This is the amount of non-cash benefits (for example, private use of a company car, free or subsidised accommodation, preferential loans), other than Company Share-based Remuneration (but including shares in companies that are not the employer company or a company that controls the employer company), that is included in 'Taxable Pay (this employment)'

The purpose of this advance notice is to ensure that the relevant information is captured in payrolls from 1 January 2017. The position of these fields will be included in the P35 Schema document that will issue later in 2017.
Published on Fri 28 of Oct, 2016
Revenue eBrief No. 92/16: Jobs and Pensions Service - a new online service for employees and private pension recipients

Jobs and Pensions, Revenue's new online service, allows employees and private pension recipients to register certain new jobs or private pensions with Revenue. A tax credit certificate will then issue to both the employer/pension provider and the employee/pension recipient.

This service replaces the paper Form 12A so employees must register their first job in Ireland using this service.

Access to the Jobs and Pensions Service is available in myAccount and ROS. Further information is available on the Revenue website and in a recent Employer Notice (PDF, 145KB)
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