1. Income Tax Exemption
This scheme is for long term unemployed Individuals who start a new business (sole trader/partnerships). They will be exempt from Income Tax for the first two years of trading, providing it is a qualifying business and they have been unemployed for a period of at least 12 months, prior to starting the business. Relief is to be capped at €40,000 per annum.
2. Capital Gains Tax Refund
Rollover relief allows a trader to defer the payment of Capital Gains Tax where the disposal proceeds of a business asset are reinvested in a new business asset. The deferral is achieved by deducting the chargeable gain from the cost of the new asset.
For Further information on the above please contact us.