@taxunwrapped: Can you gift someone money instead of paying them a salary? Recent headlines about maternity hospital consultants making payments to colleagues have brought this issue into focus. But the tax position is much broader than many people realise. The courts have repeatedly found that where a payment arises because of someone's work, it will usually be taxed as income, even if everyone involved calls it a gift. One recent case involved a CEO receiving €2.3 million from shareholders after a successful IPO. He argued it was a personal gift. The courts disagreed. If you've made or received a work-related payment, don't assume the word "gift" settles the matter. Don't get caught out by poor tax planning. For a consultation on resolving tax issues before Revenue comes calling, visit the link in my bio OR go to taxunwrapped.ie. (And) Don't forget, we advise and implement. #taxtips #taxplanning #taxstrategy #irishtax #taxunwrapped #gifttax #incomeTax #revenueireland #employmentincome #taxadvice #workplacepayments #taxdisputes
