28 September 2018
Quintas Newsletter
State Pension Changes
PAYE Modernisation - Are You Ready?
Tax Advantages of Electric Vehicles
VAT Returns - The Essential Basics
Sugar Tax
Personal Insolvency News
A Perfect Day in West Cork
Recent News
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by Paul O' Connell, Partner

Dear Reader,

Welcome to the September edition of our newsletter.

As we enter the home straight of 2018, with the kids settled back in school and the bright evenings fading quickly, most of us will be focused on the road ahead as we plan for 2019 and beyond.

2019 and beyond is also to the forefront of national agenda at present with Minister Donohoe due to present Budget 2019 on October 9th. With  the “supply and confidence” arrangement between Government parties and Fianna Fail set to expire on Budget Day 2019, we look set for a period of political uncertainty which in the absence of a new arrangement will more than likely result in a general election in the not too distant future, something that very few would seem to welcome.

The last few weeks has seen plenty of speculation on some very important decisions with the debate on tax cuts or increased spending to the forefront. Recent kite flying suggests that the 9% VAT rate is likely be increased.  With most businesses not in a position to absorb any VAT increase it will ultimately result in increased costs for consumers as the price of a hotel stay, a meal out, a trip to the barber or hair salon and the daily newspaper are all likely to increase as a result, never mind the potential impact that this could have on jobs in certain sectors, particularly outside of our main cities.

Speaking of change, most of the articles in this edition of our newsletter deal with recently enacted tax changes or changes that face us in the years ahead. Joan Bourke brings us some news on changes to the qualification requirements for the state pension, Sally Turner has a short piece reminding employers on what the forthcoming changes in the Paye system are and Meadhbh O’Callaghan shares some of the tax benefits applicable to electric vehicles. Jennifer Brosnan reminds us of the basic rules of engagement when it comes to VAT returns and Deirdre McGee takes a brief look at the introduction of Sugar Tax and how it works.

Mark Ryan shares some updates with us on his experiences in the ever-changing world of personal insolvency and shares some of the wins that he has under his belt in recent times and finally we round off with a personal story from Fachtna O’Mahony who reminds all of us that we should take every opportunity to support our own and particularly local businesses. This point is particularly relevant in a week when the people of Cork came out in huge numbers in Pairc Ui Chaoimh to pay tribute to one of our own in the late Liam Miller.  

Happy reading.