The Seed Capital Scheme

Summary of the Seed Capital Scheme (SCS)

If you are an employee, an unemployed person or were made redundant recently and are interested in starting your own business you may be entitled to avail of the tax refund available under the Seed Capital Scheme.

An employee who leaves employment and invests by means of shares in a company, which carries on a new business, may claim a refund of income tax paid in previous years. An unemployed person may also avail of this facility.

For more information please clink the following link: http://www.revenue.ie/en/tax/it/leaflets/it15.html

 

An update from the Insolvency Service of Ireland

The mission of the ISI is to help restore people who are insolvent to solvency in a fair, transparent and equitable way.

The ISI is an independent statutory body. It was established by the Minister for Justice and Equality, Mr Alan Shatter, T.D., on 1 March 2013. It has already recruited an implementation team and will continue to recruit additional specialist staff who will administer the various provisions of the Personal Insolvency Act, 2012.

To begin with, we are informing the public about the three new insolvency arrangements. This is being done by way of publishing detailed guides to the operation of each new arrangement, the launching of our website which will be updated as relevant developments take place and the establishment of an Information telephone service for any queries interested parties may have about the Act.

The next stage which will happen during the second quarter of 2013 is to continue to develop the Information technology infrastructure to enable applications to be made online to the ISI and enable applications to be forwarded to the Courts Service electronically; the development of Regulations relating to the authorisation and licencing of Personal Insolvency Practitioners and Approved Intermediaries following which applications will be made by interested persons to be so authorised by the ISI; the creation of Registers of approved PIPs and AIs with their contact details together with other Registers required by the new arrangements; the appointment of 6 new specialist Judges of the Circuit Court to deal with the new insolvency arrangements.

The final stage will happen after all the foregoing steps have been successfully implemented and ISI will then be in a position to begin accepting applications. It is anticipated that this will be complete by the end of the June.

Latest News from the Companies Registration Office

Electoral Amendment Political Funding Act 2012

This Act was signed into law on 6/11/2012. One of the provisions of this Act reduces the amount threshold for disclosure of political donations made by a company, society or trade union on an annual return form completed by a company, society or trade union. With effect from 7/11/2013 the threshold for this disclosure has been significantly reduced from €5,079 to €200.

Companies, societies and trade unions making an annual return up to a date on or after 7/11/2013 are required to disclose in that return all political donations in excess of €200 in the aggregate which were made by the company, society or trade union, as applicable, during the period covered by the annual return.

Companies, societies and trade unions making an annual return up to 6/11/2013 or earlier are required to disclose in that return all political donations in excess of €5,079 in the aggregate which were made by the company, society or trade union, as applicable, during the period covered by the annual return.

Employment Regulation Orders – Agricultural Workers

The High Court has made the ruling that the Employment Regulation Order (ERO) wage setting mechanism is unconstitutional. For detailed information please click on the following link: http://www.employmentrights.ie/en/informationforemployees/industryspecificinformation/agriculturalworkers/

For Rates of Pay for Agricultural Workers please click: http://www.labourcourt.ie/Labour/Information.nsf/447a09a9deaa452280256a1b0052dc2e/9e9d066a6aeaf803802569e0003d99b7?OpenDocument