Launch of SURE — StartUp Refund For Entrepreneurs!

To-day the Minister for Jobs, Enterprise and Innovation Mr. Bruton along with the Minister for Finance Mr. Noonan launched SURE (StartUp Refunds for Entrepreneurs)  which is a tax refund scheme that aims to “Promote Entrepreneurship”.

If you are interested in starting your own company, you may be entitled to an income tax refund of up to 41% of the capital funding that you invest in the company under SURE.

Depending on the size of your investment you may be entitled to a refund of PAYE income tax that you paid over the six years before the year in which you invest.

The general conditions for SURE are that you must:

Establish a new company and engage in a qualifying trading activity(s); and,

  • Invest money in the new company by way of purchasing new shares; and,
  • 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); and,
  • Take up full-time employment in the new company either as a director or an employee.

For more information regarding SURE please visit SURE website, where you can also access an online calculator to estimate your possible tax refund.

You can also download the SURE information brochure here or the Revenue IT 15 information leaflet SURE IT 15.

 

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