SURE Thing: Start-up Refunds for Entrepreneurs

SURE Tax relief for start-ups, Start-up refunds for entrepreneurs

SURE: Tax relief for start-ups

Start-up Refunds for Entrepreneurs, Ireland

Are you thinking of starting a new company? Then you could be due a tax refund under SURE: Start-up Refunds for Entrepreneurs.

SURE is a tax refund scheme, and is a joint initiative of the Department of Jobs, Enterprise and Innovation and Revenue.

If you’re starting your own business, you may be entitled to an income tax refund of up to 41% of the capital funding that you invest in your company under SURE. Depending on the size of your investment, you may be entitled to a refund of PAYE income tax that you previously paid over six years prior to the year in which you invest.

General conditions for SURE; you must:

  • Establish a new company and engage in qualifying trading activity(ies)
  • Invest money in the new company by way of purchasing new shares
  • Have had mainly PAYE income in the previous four years
    • This would include a person currently in PAYE-type employment, an unemployed person, a person recently made redundant or a retired person
  • Take up full-time employment in the new company either as a director or an employee

You can also estimate your potential SURE refund using their Online Calculator*. Make best use of the online calculator by following the information outlined below:

  1. Details of the likely investment amount
  2. Details of your income and PAYE tax paid
    • This information is on your P60 or P21. If you’re investing an amount greater than one year of income, you’ll need your P60 / P21 for more than one year

*Terms and conditions will prompt upon click

Revenue: Irish Tax and Customs has more information on SURE

The STAR Team

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