Tax Unwrapped

Tax Unwrapped Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Tax Unwrapped, Consulting Agency, Chase House, City Junction B. P, Dublin.
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31/08/2026

Revenue increasingly has access to information independently of what you put on your tax return.

That can include information from banks, Government departments, the RTB, HAP, foreign tax authorities and digital platforms such as Airbnb, eBay, Etsy, Uber and Deliveroo.

Revenue also analyses business results, RCT payments and activity in sectors it has selected for compliance projects.

You cannot guarantee you’ll never face a Revenue intervention.

But you can avoid giving Revenue’s risk systems obvious reasons to select you.

Does your tax return make sense when compared with everything else Revenue knows?

27/08/2026

My dad received a very convincing text from someone pretending to be Revenue.

It said he had a refund waiting and needed to confirm his details. The link even contained the word “Revenue”, making it look genuine.

But it was fake.

The important thing to remember is this:

Revenue will never send you a text telling you that a refund is due or that you owe tax.

If you receive a message like this, don’t click the link, don’t reply and delete the message.

Please share this. It could stop someone you know from handing their personal or banking details to a scammer.

26/08/2026

A small business can grow its sales - and actually end up with less money.

That’s the potential VAT trap when your turnover reaches the Irish VAT registration threshold.

For businesses selling to consumers or other customers who can’t reclaim VAT, registration can leave you with a difficult choice: increase your prices or absorb the VAT yourself.

Worse, if you discover too late that you should already have registered, you could owe VAT on sales where you never charged it.

If your turnover is approaching the VAT registration threshold, you need to understand what happens before you cross it - not six months afterwards.

24/08/2026

Could you gift a €500,000 property to your child without triggering gift tax?

Potentially — with the right planning.

Using LAVS (Lower Asset Value Strategy), it may be possible to structure ownership so that the taxable value of the gift is lower than the property's open-market value.

We've used this strategy with clients, including an actual case involving a property worth approximately €500,000 where the taxable value was brought within the child's available €400,000 lifetime threshold.

The result? No gift tax for the child — and no additional taxable gift needed to fund a tax bill.

But LAVS requires advance planning. The structure, documentation and wider estate plan all matter.

If you're thinking about passing property or significant wealth to your children, the time to plan is long before the transfer.

20/08/2026

If you own, rent or develop property in Ireland, there are tax reliefs that could potentially save you thousands.

In this video, I cover 10 worth knowing about - including:

• 9% VAT on qualifying apartment developments
• An additional 25% corporation tax deduction for qualifying apartment construction
• Stamp duty potentially reduced from 7.5% to an effective 2%
• Up to €10,000 in qualifying pre-letting expenses
• Potentially €30,000 in rental property retrofit deductions in 2026
• Living Over the Shop relief
• Capital allowances
• 100% Accelerated Capital Allowances
• Rent-a-Room Relief of up to €14,000

Plus, I look at the new rules for standalone garden homes and the potential future extension of Rent-a-Room Relief.

I help property investors and developers structure their investments properly, identify the reliefs they're entitled to, and make sure they're not paying more tax than they need to.

Save this for your next property investment.

19/08/2026

Prediction markets such as Polymarket and Kalshi are growing rapidly. But how are the winnings taxed in Ireland?

There is currently no specific Irish tax rule for prediction markets.

Depending on how the activity is characterised, there are three possible outcomes:

🎲 Gambling: winnings could potentially be exempt from income tax and CGT.
📈 Capital gains: if an event contract is treated as an asset, gains could potentially be subject to CGT at 33%.
💼 Trading: if high-volume, high-frequency activity amounts to a trade, profits could potentially be subject to income tax, USC and PRSI.

Polymarket adds another issue because it uses the USDC stablecoin. The crypto transactions may therefore need to be considered separately from the prediction contract itself.

There is no single answer. The Irish tax treatment depends on what you're actually doing and how the transactions are characterised.

Follow for more Irish tax tips.

If you're trading on Kalshi or Polymarket and want advice on your Irish tax position, visit taxunwrapped.ie.

17/08/2026

There’s a mistake we see people make with favourite niece or nephew relief.

Imagine you’ve spent years working substantially full-time in your aunt or uncle’s business.

If the relevant conditions are met, your aunt or uncle may be able to gift or leave that business to you and, for gift and inheritance tax purposes, you can be treated as their child.

The potential difference is substantial.

The Group A tax-free threshold is €400,000.

The Group B threshold, which would ordinarily apply to gifts or inheritances between an aunt or uncle and a niece or nephew, is €40,000.

But this is where the misunderstanding arises.

Some people assume favourite niece or nephew relief gives them a new, separate €400,000 threshold.

It doesn’t.

The relief can allow the qualifying business gift or inheritance to fall within Group A, but you’re still using your existing Group A threshold. Previous Group A gifts or inheritances can reduce what remains available.

That’s an important distinction when a family is planning how a business will eventually pass to the next generation.

Had you assumed the €400,000 threshold was a separate threshold for the business?

12/08/2026

A question I often get from business owners is: when do I actually need a holding company?

For many entrepreneurs, it's not something they need when they first start trading.

The question normally becomes relevant later.

You've paid yourself, you've pension planned, the business is doing well, and you're still accumulating surplus cash in the trading company.

At that stage, a holding company can allow you, subject to the usual conditions, to move post-tax profits up by dividend without another corporation tax charge. Those funds can then be used to invest in other businesses and build a wider group.

There can also be significant advantages if you eventually sell a qualifying subsidiary.

You can put a holding company in place after your business has become valuable, but restructuring later can be more complicated and expensive.

So if you're accumulating significant surplus cash, considering another business or thinking about a future sale, that's normally the point to review your structure.

Do you already have a holding company, or is it something you've considered?

10/08/2026

When most people think about tax-free investing in Ireland, whiskey probably isn't the first thing that comes to mind.

But there is a market for buying entire casks of young whiskey and holding them while the whiskey matures.

That could mean waiting ten, fifteen or twenty years.

If the whiskey becomes more valuable and the cask is eventually sold at a profit, Irish tax law can produce a surprising result: the gain on a qualifying cask can be tax-free.

There can be another planning opportunity too. A cask can potentially be gifted to a child while its value is still relatively low, with the future growth then happening in their hands.

We're explaining the tax treatment here, not endorsing whiskey casks as an investment. We help clients understand tax-efficient and tax-free investments. Whether the underlying investment is actually a good one is a different question.

Would you ever have guessed that whiskey could have this tax treatment?

07/08/2026

If you or your child has coeliac disease, you may be missing out on tax relief.

In Ireland, you may be able to claim 20% tax relief on qualifying gluten-free foods, along with other eligible medical expenses related to treatment.

For anyone buying gluten-free food every week, that relief can add up over time.

Many people simply don't realise the relief is available, or aren't sure what qualifies and what records they need to keep.

We've summarised the key points below.

Want help checking what you can claim? Visit taxunwrapped.ie

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