Budget 2018 – Some Highlights
As just announced in today’s budget:
A. Company Cars
Your employer or if you are a company owner, can provide you with a electric company car for one year without any tax implications
Electricity used in the workplace for charging vehicles will also be exempt from benefit in kind
B. Pre-letting Expenses for landlords – Rented Residential Property
To encourage owners of vacant residential property to bring that property into the rental market, a new deduction is being introduced for pre-letting expenses of a revenue nature incurred on a property that has been vacant for a period of 12 months. Up to now this was not allowed as a deduction.
A cap on allowable expenses of €5,000 per property will apply, and the relief will be subject to clawback if the property is withdrawn from the rental market within 4 years.
The relief will be available for qualifying expenses incurred up to the end of 2021
Any queries on same give me a call on 091 763817 or email me at firstname.lastname@example.org