Universal Social Charge explained The Universal Social Charge (USC), which came into effect on 01 January 2011, is a tax payable on gross income, including notional pay, after any relief for certain capital allowances, but before pension contributions. All individuals who earn in excess of €13,000 per annum are liable to this charge. From 01 January 2012 the USC will be applied on a cumulative...

Stamp Duty Budget 2025 Stamp Duty rate increased from 10% to 15% where 10 or more houses are acquired in any 12-month period effective from 02 October 2024. A 3rd rate of SD on residential properties where the value / acquisition price exceeds €1.5m. Property up to €1m                1%From €1m – €1.5m                2%Value exceeding €1.5m       ...

The thresholds for CAT are set out below. The CAT rate remains at 33%. GroupBeneficiaryGroup A - €400,000Child, in certain circumstances a parentGroup B - €40,000Brother, sister, niece , nephew etcGroup C - €20,000All other cases

Budget 2024 Retirement Relief The following changes will come into effect for disposals made on or after 01 January 2025: The upper age limit which applies to the maximum level of retirement relief will be extended from 66 to 70, in respect of both a disposal to a child and a disposal to a person other than a child. A new threshold will limit the availability of the relief on disposals to a...

Budget 2024 With effect from 1 January 2024, the turnover thresholds beyond which suppliers are obliged to register for VAT will rise: For a supplier of goods, the new threshold will be €80,000, up from €75,000. For a supplier of services (or mixed supplies), the new threshold will be €40,000, up from €37,500.   Budget 2021 The ‘July Stimulus’ package reduced the standard rate of...

The Corporation tax rate remained unchanged @ 12.5% in Budget 2024. Under the transposition of the EU Minimum Tax Directive, a summary of the Pillar Two rules that will come into effect from 31 December 2023 is as follows: In-scope businesses will pay a minimum effective tax rate of 15% on their profits in respect of each country in which they operate. This will apply to both multinational and...

Budget 2025 There have been no changes to the rates of income tax. Tax credits (main) Tax credit2025 (€)2024 (€)Single person2,0001,875Married person4,0003,750PAYE credit2,0001,775Earned Income Credit2,0001,875Single person child carer1,9001,750Incapacitated child credit max3,8003,500Age tax credit – Single or widowed245245Age tax credit – Married490490Dependent relative305245Home...

Budget 2025 Please see our latest Budget briefing document