Finance Bill 2017 was published on 19 October. In addition to giving effect to measures announced in Budget 2018, the Bill also contains a number of new measures, mostly of a technical nature.
Of most interest to the SME sector is the detail provided in terms of how the new KEEP share option scheme will work in practice – we have considered the legislation in detail and summarised below the key requirements in terms of the type of company that can offer such tax efficient share options, the conditions to be met by the employee and the terms attaching to the options.
Unfortunately, the Finance Bill does not include further enhancements to or refinements of CGT Entrepreneur relief.
As anticipated, the Bill details transitional measures that will apply in respect of the new 6% stamp duty rate on commercial property where binding contracts to purchase the property were entered into before 11 October 2017 provided the instrument is executed before 1 January 2018.
We hope you will find our commentary on Finance Bill 2017 of interest and will keep you updated on developments as the Finance Bill passes through the Dail.
To discuss in confidence what the measures mean for you or your business please contact a member of our specialist tax team or your usual RBK contact.
Budget 2018 Presentation 997.14 KB
Fiona Murphy, Tax Partner, presented on Budget 2018 at the Budget Business Briefing in the Sheraton Athlone Hotel on 11th October 2017.Download
Ulster bank - Budget 2018 Presentation 427.93 KB
Simon Barry, Chief Economist Republic of Ireland at Ulster Bank presented on Budget 2018 at the Midlands Budget Briefing held in the Sheraton Athlone Hotel on 11th October 2017.Download
Budget Highlights 2018 688.71 KB
Highlights from Budget 2018 including Personal Tax, Business Tax, Farmer Taxation, Capital Taxes, Miscellaneous Taxes, Tax Credits, Income Tax Rates, Income Exemption Limits, USC and PRSI.Download
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