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I think everyone here would like to sign this petition to remove the use of exit tax / deemed disposal on ETFs (please share it far and wide!) https://chng.it/dfmPKdvvFz

For the benefit of this thread, as of 1/1/2022 Revenue have removed their guidance that US ETFs attract the same taxation as general shares.. See the footnote at the bottom of page 2 of the Revenue's ETF taxation manual...

Thanks for your help.

Thanks! So the following is accurate then: 2022: No tax paid Oct 2023: Tax on 2022 rent + preliminary tax for 2023 Oct 2024: Tax on 2023 rent (less preliminary tax paid in prior year) + preliminary tax 2024 etc. If this is true then it seems like a bad idea to file your form 11 early (say in...

My wife (a PAYE earner) has rental income for the first time in 2022 and I expect the net amount of this (rent-expenses) to be around €6k all going well. She normally fills in her tax credits / small ad-hoc income via an income tax return on Revenue's myAccount service. Am I correct to say that...

My accountant's view was that the Revenue are trying to exclude investment companies i.e. those whose primary source of income was from investments. They thought that if I invested any funds retained in the company (in a brokerage for example) but sold them before the liquidation event that it...

Hi Jim, thanks for responding to my post and for the comprehensive summary. I'm not quite there yet (re building up sufficient funds in the company), but I'll be sure to ask you for a quote when I do. I would satisfy the Revised Entrepreneurial Relief Scheme rules so would be attaining a 10% CGT...

Just a ballpark figure would be great!

Ok, I can see it was announced the limit was reduced from £10m to £1m in the UK's 2020 budget effective last March. Thanks for the info Gordon. Still seems worth it to me, as I save on the 52% (45.77 % calc above) even in the unfortunate event it's abolished. And we might just get a heads up...

To follow up on this. I received advice from my accountants several months ago that Revenue clarified to one of their tax partners that the following was true: 1. Employer's PRSI is not payable on salaries paid to directors who pay class S PRSI 2. Any spouse where the husband owned the rest of...

"Does it matter what type of company it is"? A: Yes - the revenue make it clear which type of service companies / consultancy companies the surcharge applies to and specifically list some. See...

Paying Revenue taxes from other funds is an unfair comparison. My calculation does take into account exit taxes paid at the earlier deemed disposals. It does this indirectly, but I've verified the calculation is consistent with the detailed revenue guidance. Please shout if you think my...

What are the typical fees for liquidating a limited company? It's a simple limited company with cash and no liabilities, and I want the cash paid out as a capital distribution.

I've carried out quite a bit of research into entrepreneur relief and I think it's a viable medium term option. My understanding is I'd incur: (a) 12.5% corporation tax when retaining profits in the company (b) Professional services surcharge of 15% on 50% of my undistributed income (as I have a...

Thanks RedOnion, we're separately assessed so I don't thinks she's a chargeable person. My accountant is clueless about these types of things, I definitely need a new one. Are recommendations allowed on this forum?

I've started paying my wife, a director of my limited company with a 10% shareholding, a salary. But I've found that I need to pay employer's PRSI on this. Is there a way to avoid this? My wife also has PAYE income. I did some analysis and I understand that if I change our shareholding to...

This is a theoretical question, but I'm keen to know the answer. If I start up a company and capitalise it by purchasing shares in the company (i.e. equity investment) then is it possible for me to withdraw my funds in the future without paying tax on the income? e.g. paying out via dividends...

Ok, updated the projections with two improvements - (a) Dividends on dividend reinvestments (per Orca's feedback above) and (b) DeGiro fees are applied to each dividend reinvestment. I've also got an independent check on the figures and the new spreadsheet can be found at my blog (linked by Thos...

Thanks for spotting Orka. I added in dividends on dividends and I independently checked my calculations using an independent spreadsheet model. I'll update my blog in the morning if any of the key messages have changed. Please let me know if you have any other feedback.

And even more specificially add "/2018/10/27/taxation-of-etfs-in-ireland/" to the end of notthatkeen's link. It would be great if someone could just post the full working URL.