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April 2020 E-Newsletter
In this issue:
REVENUE ACCELERATES R&D CREDIT PAYMENT TO HELP DURING COVID-19

UPDATES TO THE TRADING ONLINE VOUCHER SCHEME

WORKING FROM HOME AND TAX

SMALL GROUP COMPANY AUDIT EXEMPTION

TAX DEADLINES AND REMINDERS
Seamus Parfrey
REVENUE ACCELERATES R&D CREDIT PAYMENT TO HELP DURING COVID-19
By Seamus Parfrey

This month Revenue announced it will accelerate payment of the research & development tax credit that are due to be paid to companies in 2020. This could free up thousands of euro in cash for businesses struggling during the Covid-19 crises.

Find out if your company is eligible and how to make a request:
UPDATES TO THE TRADING ONLINE VOUCHER SCHEME
By Noel Murphy

Many small/medium sized Irish businesses will be aware of the  Trading Online Voucher Scheme; a grant available through your Local Enterprise Office (LEO) to help small businesses to trade more online, boost sales and reach new markets.

There has been two important updates made to the scheme to assist small businesses improve their online presence:
WORKING FROM HOME AND TAX
By Seamus Parfrey

Did you know you can make a payment to eWorker employees to cover expenses such as heating and electricity costs without deducting PAYE, PRSI, or USC? Revenue have issued guidance on the tax treatment of e-workers and remote workers.
SMALL GROUP COMPANY AUDIT EXEMPTION
By Noel Murphy

Audit Exemption applies to any group company if the group as a whole qualifies as a Small Group. Click here to find out if your company satisfies the conditions in order to claim a Group Company Audit Exemption:
TAX DEADLINES AND REMINDER
By Una Beecher

Deadline - 14 April 2020 
PAYE/PRSI
  • Monthly return and payment for March 2020
  • Quarterly return and payment for January - March 2020


Deadline - 14 April 2020
PSWT
  • Return and payment for March 2020


Deadline - 14 April 2020
DWT
  • Return and payment for March 2020


Deadline - 19 April 2020
VAT
  • Annual VAT 3 return and payment for the period April - March 2020, together with the Return of Trading Details where the accounting period ends in March  
  • Monthly VAT 3 return and payment for March 2020, together with the Return of Trading Details where the accounting period ends in March

Deadline - 20 April 2020
MOSS VAT
  • MOSS VAT return and payment (if due) for the period January - March 2020


Deadline - 23 April 2020
RCT 
  • Return and payment for March 2020 
  • Quarterly return and payment (if due) for the period January - March 2020


Deadline - 1 - 21 April 2020
Corporation Tax
  • Preliminary Tax for accounting periods ending between 1 - 31 May 2020  
  • First instalment of preliminary tax for "Large Companies" with a financial year ending between 1 - 31 October 2020
  • Returns for accounting periods ending between 1 - 31 July 2019
  • Pay balance of tax due on accounting periods ending between 1 - 31 July 2019
  • Returns of third party information for accounting periods ending between 1 - 31 July 2019

Where returns and payments for RCT, VAT, PAYE/PRSI and Corporation Tax are made electronically, the return and payment deadlines are the 23rd day of the month where relevant

Our aim is to help businesses grow, to increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on (021) 4310266 or email us on pm@parfreymurphy.ie if you wish to do business with us.