Tax relief for start up companies

What business start up activities are included for start up tax relief ?

SURE ( aka start up relief for entrepreneurs) is a tax relief that provides a refund of Income Tax that you paid in previous years. You can claim the relief if you are starting your own business and you are:

1. an employee
2. an unemployed person
3. a person who has recently been made redundant.

The general conditions for SURE are that you must:

1. establish a new company carrying on a new qualifying trading activity. But can’t include professional activities such as legal or accounting etc
2. have mainly Pay As You Earn (PAYE) income in the previous four years
3. take up full-time employment in the new company as a director or an employee
4. invest cash in the new company by purchasing new shares
5. keep the purchased shares for at least four years

Note above relief is subject to alot of qualifying conditions and revenue approval

Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie