4.20pm No changes to High Earners Restriction

4.17pm No increase in income tax rates, no narrowing of tax bands, no reduction in credits.

4.13pm  Increase in mortgage interest relief for 2004-2008 first time buyers to 30%. Mortgage interest relief for first time buyers in 2012 will be 25%.

4.10pm New surcharge of 5% introduced on income sheltered by property reliefs where taxpayers income is greater than €100,000

4.04pm Corporation tax exemption for start up companies extended for 3 more years for businesses starting in 2012, 2013 & 2014

4.02pm New Foreign Earnings Deductions for companies exporting to and employees working in BRIC countries

4.00pm Stamp duty on commercial property being reduced from 6% to 2%

3.50pm No change in Corporation Tax rate of 12.5%

Revenue have introduced a facility to pay tax by credit card, limited to VISA and Mastercard. For now, payments can be made by telephone only. The dedicated telephone service is available Monday to Friday 9.00 – 17.00 on 1890 27 37 47 (+ 353 1 828 8045 for international customers). Payments by credit card will incur a transaction charge of 1.69% of the value of the payment.

The Revenue Commissioners have announced that paper receipts for tax payments will no longer issue.   ROS customers will receive a Statement of Account in their ROS inbox which will confirm receipt of the tax payment.  Taxpayers, who are not ROS customers, will no longer receive a receipt of payment from Revenue from 1 July 2011.

If you have difficulties registering with the Revenue Online Service (ROS) contact Noone Casey for assistance in the process.