LSC Tax Seminar Event November 2016

Posted Nov 28, 2016

Are you a professional contractor with a LTD company?

Are you considering becoming a LTD company contractor?

Then you can’t afford to miss this Taxation seminar event!!

(Click here to register) REGISTRATION IS NOW CLOSED

Clear as mud! That seems to be the general consensus from most of our contractors around Revenues current interpretation of contracting Ltd companies and what is deemed to be a legitimate or necessary expense.

At LSC we are committed to providing guidance and support to contractors in the Life Sciences market. As part of this commitment to ensuring we provide contractors with the most up to date and accurate information, LSC are delighted to provide contractors in the life science market with the opportunity to attend a presentation from Mark Barrett, the President of the Irish Tax Institute on what is viewed by revenue as legitimate reclaimable expenses and what is not.

• Subsistence, overnight and other travel expenses.

• CPD, training and education costs.

• Limitations on pensions.

• Relocation expenses

• Irish tax liability if working abroad.

Remember under Irish company law as a company director you are legally responsible and liable for understanding the company accounts that you sign off at the end of each year!!

Background to the Seminar

The increase in the number of people who choose to work in a non-traditional “employer-employee” model and the tax treatment of people working under Service or temporary contracts were brought into focus by the Revenue Commissioners ‘National Contractors’ project’ which was launched over 3 years ago. The project arose due to issues in relation to the claiming of expenses by contractors for tax purposes.

The Departments of Finance and Social Protection issued a Consultation paper earlier this year on what they term Intermediary-type Structures, ie Contractors, with submissions made by numerous parties including the Institute of tax and the Professional Contractors Services Organisation (PCSO).

There have been a number of briefings from revenue to clarify the circumstances in which travel and subsistence expenses may be reimbursed free of tax, however there has been recurring issues in revenue audits around not only the tax treatment of travel and subsistence, but also around continuous professional development and training costs, tax liability while working abroad and relocation expenses.

Mark Barrett from Ronan Daly Jermyn has worked in tax for over 20 years in both industry and practice and has advised Irish and international clients on a broad range of tax matters.

He has extensive experience in advising clients and individuals on all aspects of interaction with the Revenue Commissioners, and in particular on Revenue audits and investigations. Mark is co-author of the Irish Tax Institute’s publication “Revenue Audits and Investigations – the Professional Handbook”.

Mark is President of the Irish Tax Institute and is a past chairman of Main TALC, the national liaison body between tax practitioners and Revenue in Ireland. He chairs the Institute’s Nominations & Remuneration Committee and also chairs the South West Institute/Revenue branch network on behalf of the Institute.

Mark has also presented at many tax conferences nationally and internationally on a variety of subjects and has contributed several articles to the Irish Tax Review and other publications on a wide number of tax matters.

Register here today!