Purchasers of a new build after 1 January 2017 whom qualify for the Help to Buy Incentive (as introduced by Section 477C Taxes Consolidation Act 1997) will have their tax refund under this scheme paid to a ‘qualifying contractor’ as part of the deposit on the property. Consequently it is essential that developers/contractors wishing to…
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Offshore Account Disclosures
Offshore Account Disclosures Anti-Avoidance Section 54 Finance Act 2016 makes a number of changes to the tax code which will reduce the level of penalty mitigations for tax defaulters with off-shore irregularities giving rise to an Irish tax liability. The amendments withdraw, from 1 May 2017, the penalty mitigation arrangements, currently available to tax defaulters…
Dwelling house exemption change for Capital Acquisitions Tax (CAT)
The changes to the dwelling house exemption from CAT which came into effect on or after 25 December 2016 by virtue of amendment to Section 86 Capital Acquisition Tax Consolidation Act 2003 (inserted by Section 52 Finance Act 2016), mean the exemption will now only apply to inheritances and not gifts unless the house is…
