Start-Up Relief for Entrepreneurs (SURE)

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Hi

I'm in the process of setting up a new business and camae across Start-Up Relief for Entrepreneurs (SURE) which looks very attractive.

Could somone give me an opinion of the Pros and Cons of using it please? I was familiar with BES investments back in the day. Is this mechanism similar?

I couldnt include a link here but search for SURE tax relief on revenue.ie brings it up and the PDF with the Ts & Cs. Page 88 in PDF is where the SURE starts.


Thanks in advance
 
Just came across this too. Having sold my business it looks interesting.

I asked ChatGPT for information on it and it seems to give quite a lot of useful info. Have you tried that?
 
I did now!

A very good example of just how good Chat GPT is. I was seriously impressed.

So would I be right in saying that at its simplest it might work like this. Similar to BES back in the day.

Invest €50k now
Get back back tax paid of €21k
After 3 years. If funds are there get back €50k investment tax free.
 
Yes it seems that if you have enough tax paid in previous years to cover the full amount of your investment in your new company, you can claim the full amount back. If not, then you can claim back up to as much of the full amount as is possible, then claim the rest over following years against your tax too.

Apparently you can email Revenue directly about it and get clarification as they have a specific team for it SUREadmin@revenue.ie
 
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