Finance Act 2024 provided a new film production tax incentive known as ‘Scéal Uplift’, increasing the headline film corporation tax credit rate from 32% to 40% for Irish feature film productions in certain circumstances and is termed the ‘enhanced credit for lower budget film’. ‘Feature film’ includes live-action and animated feature films. The additional incentive […]
Ireland’s tax regime for non-domiciled individuals Recent changes in the international tax landscape mean that Ireland is becoming a popular base for high-net-worth individuals. This can be attributed to a number of factors, including Ireland’s special tax regime applicable to non-Irish domiciled individuals who live in Ireland. Other reasons that Ireland is so attractive as […]
Budget 2025 was delivered by Ministers Jack Chambers and Paschal Donohoe to the Irish Dáil on 1 October 2024. The Budget included three announcements pertaining to the Irish film and TV sector as outlined below. Section 481 uplift for feature film productions (Scéal Uplift) Section 481 provides for a tax credit of up to 32% […]
What is a personal service company? A personal service company (PSC) is a separate legal entity engaged by film and TV productions to provide the services of an individual. Film and TV industry professionals in Ireland will commonly operate through a personal service company. A recent Supreme Court ruling in Ireland has significantly reduced the […]
On 29th March 2024, the Irish Department of Finance announced that EU Commission approval had been secured to enable the implementation of two important changes to S.481 film relief introduced in Finance Act 2023, being: An increase of the eligible expenditure cap per qualifying film to €125m (previously €70m) An extension of the credit to […]
Companies incurring expenditure on Research and Development (‘R&D’) may be eligible for Ireland’s R&D tax credit. Finance Act 2023 has increased the existing refundable credit from 25% to 30% for expenditure incurred in accounting periods beginning on or after 1 January 2024. This credit can therefore reduce the cost of carrying out R&D by up […]
The Digital Gaming Tax Credit is a tax incentive which provides a refundable tax credit of up to 32% of eligible expenditure relating to the development of a qualifying digital game. It has been introduced in Ireland from 22 November 2022. Overview of the Relief The Digital Gaming Tax Credit offers a tax credit of […]
Rewarding Talent in your Business In today’s competitive job market, companies are increasingly using equity compensation to attract, retain and reward talented employees. There’s an expectancy among workers in some new and fast-growing businesses in the small and medium-sized enterprise (SME) sector that at least some of their pay package will be in the form […]
Film Withholding Tax (FWT) is a withholding tax on certain payments that applies to companies who qualify for the Section 481 Film Tax Credit. FWT has application from 1 January 2015. Producer companies (as well as the qualifying company for the purposes of Section 481 TCA 1997) who make ‘relevant payments’ to artistes resident for […]
We are delighted to announce that Saffery Ireland was awarded ‘Client Service Award’ at the Irish Accountancy Awards 2023. The judging panel said: ”This winner impressed our panel with its strong focus on a deep knowledge of a specialist sector, achieving remarkable results. Clients appreciate advisors who understand their business environment and constantly challenge them […]
