Tax refund scheme for start-ups

Thinking of starting new business?
Don’t miss the tax refund scheme for new start ups who have been employed in any of 5 years prior to starting own business.
The StartUP Refunds for Entrepreneurs (SURE) initiative allows individuals to obtain a refund from the Government of up to 41 per cent of the capital they invest in establishing their own company over a six-year period.

The general conditions for SURE are that individuals must:

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

2)Invest money in the new company by way of purchasing new shares; and,

3) 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,

4) Take up full-time employment in the new company either as a director or an employee.

More information is available on Revenue Website.