Initiatives for start-up businesses and SMEs

There are a number of tax reliefs, deductions and exemptions in place that contribute towards the creation of jobs. These include:

• The Start Your Own Business Relief
• The Seed Capital Scheme
• The Employment and Investment Incentive
• Relief from Corporation Tax for start-up companies
• The Research and Development Tax Credit

There is also a range of supports, reliefs and incentives available for small, medium and start-up businesses. These include:

• Less frequent filing and payment arrangements for Employer PAYE/PRSI (PREM), VAT and Relevant Contracts Tax.
• Exemption from the requirement to register for VAT (provided turnover does not exceed certain thresholds)
• Use of the cash basis of accounting for VAT
• Deferral of the Corporation Tax preliminary due date