Pearse Trust Blog

Improvements To Ireland’s Special Assignee Relief Programme

Posted by Pearse Trust on Wednesday, Mar 18, 2015

Ireland’s Special Assignee Relief Programme (“SARP”) is a tax relief designed to boost the relocation of key talent to Ireland. The new SARP was introduced in 2012 to assist Irish companies and multinational companies in attracting key employees to Ireland. Where qualifying employees relocate to Ireland, SARP allows income tax relief in the form of a tax deduction from employment income.

The good news is that the Irish Finance Act 2014 has made a number of improvements to the relief which has allowed for the SARP to be available to a larger group of key talent relocating to Ireland since 1 January 2015.

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Tags: Ireland, Tax

Continuous Improvements To Ireland’s R&D Tax Credit

Posted by Pearse Trust on Wednesday, Dec 17, 2014

There have been continuous improvements to Ireland’s Research and Development (“R&D”) Tax Credit since its introduction in 2004.

The 2015 Budget also made a major amendment to the R&D Tax Credit. The 2003 “base year” will be removed entirely from 1 January 2015.

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Tags: Ireland, Tax, R&D

The Impact Of The Criminal Justice Act 2013 On Irish Anti-Money Laundering

Posted by Pearse Trust on Wednesday, Nov 26, 2014


The 2013 Act, which amended the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (the “2010 Act”), was introduced to allow Ireland to cooperate further with the recommendations of the Financial Action Task Force (“FATF”) and to incorporate the State’s experience in the area since the introduction of the 2010 Act.

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Tags: Ireland, Anti-Money Laundering

Budget 2015 Reinforces Ireland As An Attractive Location For Business

Posted by Pearse Trust on Wednesday, Oct 22, 2014

On 14 October 2014, the Minister for Finance Michael Noonan, delivered Ireland’s Budget for 2015. As part of the Budget package, the Minister also published a Road Mapto secure Ireland’s place as the destination for the best and most successful companies in the world”.

The favourable provisions introduced in the Budget increase the attractiveness of Ireland as a location to carry on business and also improve the transparency of Ireland’s tax regime.

A summary of the advantageous measures incorporated in the Budget are as follows:

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Tags: Ireland, Tax

Creditors & Their Powers: Part II

Posted by Pearse Trust on Wednesday, Sep 24, 2014

In our previous blog ‘Creditors and their Powers: An Introduction’, we established some of the facts about creditors and looked at their involvement in High Court Liquidations, Creditors Voluntary Liquidation and also their powers to appoint receivers or examiners. This blog will examine further situations where creditors can exercise their powers in respect of debts owed to them.

Creditors’ Powers To Seek Court Judgments & Where Default Exists

Creditors have the power to seek a Court Judgment against a company if they fail to pay a debt owing to the creditor. This judgment may be enforced by registration in the High Court or collection by the Sheriff.

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Tags: Ireland, Legal, Finance

Creditors & Their Powers: An Introduction

Posted by Pearse Trust on Wednesday, Sep 17, 2014

A creditor is a person or company to whom money is owing, creditors can be divided into two types; secured creditors and unsecured creditors.

Secured creditors have their debt secured against the borrower’s assets. The security provided with a registered charge could be over property, a ship, piece of machinery, shares, intellectual property such as copyrights, patents, trade marks and other such assets.

Many security documents have clauses reserving the right for the secured creditor to appoint a receiver in the event of the debt remaining unpaid. The receiver will sell the secured asset in an attempt to recover the creditor’s debt.

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Tags: Ireland, Legal, Finance

FATCA – An Update For The UK & Ireland

Posted by Pearse Trust on Wednesday, Aug 27, 2014


Further to our previous blog on FATCA wherein we observed the postponement of the implementation dates for FATCA, the regime has now been implemented since July 2014.

Jurisdictions across the world are producing local legislation and guidance in order to implement FATCA on their home soil. 

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Tags: Ireland, Legal, United Kingdom, Tax, USA

Filing Financial Statements For Irish Companies Through ROS In iXBRL

Posted by Pearse Trust on Wednesday, Jul 09, 2014

What Is iXBRL Filing All About?

Legislative changes in the Finance Acts 2012 and 2013 extended the definition of a Corporate Tax Return to encompass financial statements. Revenue requires mandated companies to submit these financial statements through ROS in iXBRL.

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Tags: Ireland, Tax

4 Important Tax Issues To Remember For Irish Close Companies

Posted by Pearse Trust on Monday, Jun 30, 2014

Almost all companies in Ireland are “close companies”. The provisions concerning close companies were introduced in an attempt to counter the tax advantage that could be obtained by the retention of profits in closely held companies, where they attracted tax at a lower rate than the higher rates of personal tax to which those profits would be subject if distributed as dividends to shareholders.

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Tags: Ireland, Tax

Irish Corporation Tax Payment & Filing Deadlines

Posted by Pearse Trust on Wednesday, Jun 11, 2014

Corporation Tax Payments - Preliminary Corporation Tax

Preliminary Corporation Tax (“PCT”) for “large companies" i.e. companies with a liability greater than €200,000 in the preceding accounting period (“AP”), is due in two instalments:

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Tags: Ireland, Tax