More than 100 employers and employees attended a breakfast tax seminar hosted by Derry’s Chamber of Commerce yesterday.
The EURES Cross Border Tax Seminar event was staged to explain issues connected with cross-border employment and took place at the Bishop’s Gate Hotel in Derry city centre yesterday afternoon.
Issues covered at the seminar included how the two jurisdictions’ regulations on taxation, redundancy payments and pension lump sums affect cross-border employers and workers at the present time in each of the two jurisdictions.
Other areas covered included tax relief on pension contributions, social insurance benefits and pensions.
Information was also provided to employers that have staff members that work the north and south of Ireland.
EURES is the European Employment Services, which provides free advice and information to individuals who commute to work across the border on a weekly or daily basis.
The aim was to help individuals to overcome obstacles or barriers whilst living in one jurisdiction and working in another.
The seminar’s speaker yesterday was Rose Tierney, a chartered accountant and chartered tax adviser who is qualified to practice in both the UK and Ireland. Rose is the principal of Tierney Tax Consultancy, which operates as an independent tax adviser for professional accountancy and legal firms to support the services they provide to their clients.
She spoke in detail during the event about the current laws and rules surrounding employment, taxes, reliefs and pensions in relations to staff and their bosses at the present time in the Republic and in Northern Ireland.
Local employers and employees from various sectors asked questions on issues ranging from the expectations of employers with workers operating at various sites on both jurisdictions, residency and the potential impact of the UK leaving the EU.
George Fleming, President of Derry’s Chamber of Commerce, said: “We are delighted to have hosted an excellent practical event which is of evident benefit to our members. The proof of this was in the large attendance from local companies.
“The Chamber thanks EURES for its engagement with this very successful breakfast tax seminar.
“This is an example of the type of practical assistance that the Chamber provides to its members and which helps to build and sustain the local economy.”