Real Estate

Many property owners are currently refurbishing their properties and making significant investments in capital reconstruction, plant & machinery and repairs. The challenge for the property owners is to claim the maximum tax relief through either repairs or capital allowances without getting it wrong. We have advised many property owners on how best to maximise allowances…

Accounting in Corporate Structures Since the introduction of the new financial reporting standard FRS102 in 2015 we have found the accounting treatment of Investment Properties are not being dealt with correctly in many instances. Here are some basic rules to follow when accounting for your investment property this year. You are required to use fair…

Budget Overview Spending increases and tax cuts of €1.3bn. . ‘Help to buy’ scheme A new ‘help to buy’ scheme will see first time buyers entitled to a 5% grant on newly-built homes (signing contract date after 19/7/2016) up to the value of €20,000, includes self builds. A rebate will be available for income…

Tax minimisation on Retirement and Transferring Assets There’s been a lot of talk recently in the media about increasing Capital Acquisition Tax (CAT) Thresholds and quite rightly so. Currently, there is the possibility of families paying tax twice or three times or more when transferring assets down through the generations’. Assets include property, cash, shares,…

The Capital Goods Scheme (CGS) requires that every property owner creates and maintains a ‘Capital Good Record’ (Section 64(12) and Regulation 27(1)(v)VAT Regulations 2010), for each developed property (capital good) they own. It is effectively a VAT passport for the property. Properties cannot be sold without it. Findings suggest that over 80% are not compliant, shockingly the…

Significant tax reliefs for landlords and longer leases for tenants are part of a radical new Government policy document (http://www.per.gov.ie/wp-content/uploads/Social-Housing-Supports-Cross-Cutting-Paper-CRE.pdf) to give the rental market its biggest overhaul in a generation. • An estimated one-in-five households (305,000) are now renting. • An end to the practice of ejecting tenants when a property is being sold.…

Is there a way to protect all capital allowances on your section 23 property for future use? Maybe, so read on….. It is estimated that over 33,000 properties in Ireland remain eligible for Section 23 relief. Figures indicate that the remaining allowances on these schemes is costing the taxpayer €400m per annum. In light of…

Maximise Capital Allowances whilst avoiding the Pitfalls

Investment Properties – Tax and Accounting Top Tips

Budget 2017 Highlights

Tax minimisation on Retirement and Transferring Assets

80% of Commercial Property Owners are not tax compliant

Higher tax relief for landlords in rental market

Will I lose Unused Section 23 Property Relief