Weekly Tax News Bulletin

Please find below tax related articles in the press etc in the past week that may be of interest to you or some of your clients.
How to Protect your Wealth?
Special Assignee Relief Programme (SARP)
SMEs – OECD Warns to Cut the Red Tape
P35L filings – medical insurance as a BIK
Revenue has highlighted an error in some Form P35L filings for 2014 in relation to the recording of medical insurance payments. Where an employer is paying medical insurance on an employee’s behalf e.g. as a BIK, it is the medical insurance paid by the employer (subject to the caps on amount qualifying for relief) that must be entered on the form not the tax relief due.
Revenue has a worked example in a new eBrief. Where the P35L is incorrect, an amended P35L will need to be filed. This will enable a correct Tax Credit Certificate for 2015 to be issued.
 
Revenue Manual updated on mortgage interest relief
Revenue has updated its manual for changes in recent Finance Acts to mortgage interest relief. These include a limited extension of entitlement to relief for certain loans taken out in 2012 and 2013 and the extension of the relief to include residences in the European Economic Area (EEA).
If you have any queries in connection with any of the above please do not hesitate to contact me.


Leave a Reply