December 2024

Happy Christmas, and welcome to HTH Accountants’ new newsletter! We’ll be sending this out once a month with information for our clients and friends about financial news in Ireland - what developments you need to keep an eye on, and what we can help you with in the coming months and years.

Christmas Closing

We’ll be closed from 12:30 on December 24th, and re-opening for the New Year on January 2nd at 09:00. Any emails or calls that come in over the holidays will have responses as soon as we can after that!

Accelerated Capital Allowances

The SEAI Accelerated Capital Allowances (ACA) is a program in Ireland that provides a tax benefit for businesses that invest in certain energy-efficient equipment. Companies, sole traders and farms may all be eligible, although the equipment must be new and owned by the business to qualify for the tax deduction - leased or hired equipment doesn’t count. Businesses can claim a deduction of 100% of the cost of the qualifying equipment against their corporation tax or income tax in the first year they use it.

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7 Ways to Handle Rising Business Costs

IBEC recently issued a warning that rising costs of business are a problem the next government is going to have to prioritise. Kieran has written up 7 key ways in which you can manage rising costs - and if you need help with any of these, do contact us, and we’ll be able to help.

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Enhanced Reporting from January 1st

Effective 1 January 2024, Ireland will introduce enhanced reporting requirements for employers. The new obligations are to report to the Revenue details of several non-taxable expenses and benefits provided to employees and directors on or before the payment date to the employee.

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We hope this newsletter will be useful to you! Feel free to forward it on to colleagues and contacts who might find it useful. They can also subscribe, if they want to get further issues. Have the best of holidays, and we’ll talk to you in January!