Rent a Room Relief

If you let a room in your home, the income you receive may be exempt from tax. If your gross rental income does not exceed the exemption limit below, you do not pay Income Tax, Pay Related Social Insurance (PRSI) or Universal Social Charge (USC) on the rent you receive. If it does exceed the […]

Passing on Family Business (Succession)

Timely succession planning is vital to ensure the family business passes on to the next generation with a minimum of disruption and cost. In addition to the change of management, transfer of ownership can also disrupt a business by triggering significant tax liabilities and financing costs. Dermot McCrystal & Co can assist in the smooth […]

New Year, New Goals: 8 Resolutions for your Business in 2018

The beginning of a New Year brings with it the opportunity to reflect on the previous year and make resolutions on how to improve on past performance or to create opportunities to make 2018 successful for your business. For many, 2017 was another year on the road to recovery; however, it was also a turbulent […]

Irish firms increasingly hopeful of Brexit upside

Almost one in four Irish companies believe that Brexit will affect them positively, up from 14pc this time last year, according to a survey by the Dublin Chamber. The survey carried out amongst 359 companies, found that the number of firms that believe Brexit will hit them negatively fell slightly in the 12 months to […]

How to hedge against currency volatility

The value of any currency can, and does, fluctuate over time due to the many economic, fiscal or political vagaries that face any economy, and in turn their domestic currency. The outcome of certain ‘risk events’ can have a material impact on the value of currencies, dependent on the outcome of said events. The aftershocks […]

Food for thought when raising funding for new equipment

Q: I have an early-stage food business and I am looking for an investor as I need to fund additional equipment etc? Can you direct me? A: This is a classic case of the chicken and the egg. In many cases, investors won’t invest in an early-stage business as they will need to see proof […]

Five ways to spruce up your finances in the New Year

Save thousands by changing how you use your TV and phone, and by becoming more tech-savvy with bills. The New Year is shaping up to be a mixed bag of financial fortunes. There are more jobs and higher wages on the cards, according to various economists. However, the New Year is also likely to be […]

Finance Bill 2017 – Key highlights

Key Employee Engagement Programme (KEEP) Where an employer grants an option to an employee to buy shares in a company and the employee exercises the option, she/he is currently liable to Income Tax, PRSI and USC before receiving any cash. The total benefit received by the employee will be taxed at CGT rates when the […]

Building Lasting Value in your Business

Rich vs. Famous – Have you set a goal for your company this year? If you’re like most business owners, you’re striving for an increase in your annual sales. It’s natural to want your company to be bigger because that’s what everyone around us seems to celebrate. Magazines profile the fastest growing companies, industry associations […]

Budget 2018 highlights

We are pleased to bring you our summary of the tax measures set out in Budget 2018. This is Minister Donohoe’s first budget and his speech concentrated on expenditure measures rather than tax changes. Apart from the well-heralded modest changes to the USC and the tax bands, it will be interesting to see the impact […]