taxation is the topic and please use the appropriate tax value fron the europian tax this is a question from a student in dublin ireland

You are s tax senior working in a large tax practice in Dublin. A client of yours, Anita Byrne, has provided you with the following information: 1) During 2021. Anita sold two houses in Dublin. She purchased the first house on the 1 of April, 1979, for 15,000. Legal fees on acquisition were 600. Anita had lived in the house for most of her period of ownership. However, she didn't live in the house during the following periods: a. On the 1" of June 1995 she moved to the UK, as a condition of her employment, and remained there until the 31 of May 2001. She returned to live in the house from 1 June 2001. b. On the 1 of December 2015, she decided to let this house to students. She herself moved in with her fiance at this point. She sold this house on the 1" of March, 2021, for 575,000. Legal fees associated with the disposal were 2,300. 2) On the 10th of August, 2021, Anita sold a second house in Dublin for 650,000 which she had let to students throughout her period of ownership. The associated legal costs of disposal were 2,700. She had originally bought the house on the 15th of September 1980 at a cost of 15,000. Legal fees associated with the acquisition were 900. 3) Anita has carried on a retail business, as a sole trader, for 20 years. She is now considering incorporating the business. She has heard of Incorporation Relief and is wondering if she will be in a position to avail of this relief. 4) Anita has also heard of "Indexation Relief. She is wondering if she will be able to avail of Indexation Relief in respect of 1, 2 & 3 above. 5) Anita's sister, Claire, is Irish tax resident and runs an Irish tax resident gaming company here in Ireland. She is considering expanding her operations and is interested in starting a trade in France. She would like to know what the Irish Corporation Tax implications are of operating a business abroad and whether it would be better to establish an overseas subsidiary or to operate through a branch of the Irish company. 6) Claire's Irish company, Games Ltd, had a final Irish corporation tax liability in the amount of 350,000 for the 12 month accounting period ended 31 December 2021. Games Ltd is expecting the final corporation tax liability for the 12 month accounting period ending 31 December 2022 to be approximately 400,000. Claire is wondering when the corporation tax for the 12 month accounting period ending 31 December 2022 must be paid. Anita and Claire have asked you to provide taxation advice in relation to all of the above. REQUIREMENT: Prepare a report for Anita and Claire detailing your advice in relation to Capital Gains Tax & Corporation Tax. Your report should include advice as follows: 1. Any Capital gains tax reliefs/exemptions that Anita might be entitled to on the sale of the two houses in 2021. (15 marks) 2. Calculate any Capital Gains Tax that might be due in respect of either/both of the sales in 2021. State the due date for payment of any tax if any is due. (15 marks) 3. Explain the capital gains tax relief which is granted when a non-corporate person transfers a business to a company and state the conditions which must be fulfilled before the relief can apply. (15 marks) 4. Explain the term 'Indexation Relief. Explain when indexation relief is available, explain any limitations which apply in relation to indexation relief and determine whether it will be available to Anita in 1, 2 & 3 above. (15 marks) 5. Explain the Irish Corporation Tax implications of operating abroad through a subsidiary company versus a branch of the Irish company. (15 marks) 6. Explain what is meant by a 'small' and 'large' company for Irish Corporation Tax purposes. Determine whether Games Ltd is a 'small' or a 'large' company for the 12 month accounting period ending 31 December 2022. State when Games Ltd must pay its corporation tax in respect of the 12 month accounting period ending 31 December 2022. State also, the amounts due on each payment date. You are s tax senior working in a large tax practice in Dublin. A client of yours, Anita Byrne, has provided you with the following information: 1) During 2021. Anita sold two houses in Dublin. She purchased the first house on the 1 of April, 1979, for 15,000. Legal fees on acquisition were 600. Anita had lived in the house for most of her period of ownership. However, she didn't live in the house during the following periods: a. On the 1" of June 1995 she moved to the UK, as a condition of her employment, and remained there until the 31 of May 2001. She returned to live in the house from 1 June 2001. b. On the 1 of December 2015, she decided to let this house to students. She herself moved in with her fiance at this point. She sold this house on the 1" of March, 2021, for 575,000. Legal fees associated with the disposal were 2,300. 2) On the 10th of August, 2021, Anita sold a second house in Dublin for 650,000 which she had let to students throughout her period of ownership. The associated legal costs of disposal were 2,700. She had originally bought the house on the 15th of September 1980 at a cost of 15,000. Legal fees associated with the acquisition were 900. 3) Anita has carried on a retail business, as a sole trader, for 20 years. She is now considering incorporating the business. She has heard of Incorporation Relief and is wondering if she will be in a position to avail of this relief. 4) Anita has also heard of "Indexation Relief. She is wondering if she will be able to avail of Indexation Relief in respect of 1, 2 & 3 above. 5) Anita's sister, Claire, is Irish tax resident and runs an Irish tax resident gaming company here in Ireland. She is considering expanding her operations and is interested in starting a trade in France. She would like to know what the Irish Corporation Tax implications are of operating a business abroad and whether it would be better to establish an overseas subsidiary or to operate through a branch of the Irish company. 6) Claire's Irish company, Games Ltd, had a final Irish corporation tax liability in the amount of 350,000 for the 12 month accounting period ended 31 December 2021. Games Ltd is expecting the final corporation tax liability for the 12 month accounting period ending 31 December 2022 to be approximately 400,000. Claire is wondering when the corporation tax for the 12 month accounting period ending 31 December 2022 must be paid. Anita and Claire have asked you to provide taxation advice in relation to all of the above. REQUIREMENT: Prepare a report for Anita and Claire detailing your advice in relation to Capital Gains Tax & Corporation Tax. Your report should include advice as follows: 1. Any Capital gains tax reliefs/exemptions that Anita might be entitled to on the sale of the two houses in 2021. (15 marks) 2. Calculate any Capital Gains Tax that might be due in respect of either/both of the sales in 2021. State the due date for payment of any tax if any is due. (15 marks) 3. Explain the capital gains tax relief which is granted when a non-corporate person transfers a business to a company and state the conditions which must be fulfilled before the relief can apply. (15 marks) 4. Explain the term 'Indexation Relief. Explain when indexation relief is available, explain any limitations which apply in relation to indexation relief and determine whether it will be available to Anita in 1, 2 & 3 above. (15 marks) 5. Explain the Irish Corporation Tax implications of operating abroad through a subsidiary company versus a branch of the Irish company. (15 marks) 6. Explain what is meant by a 'small' and 'large' company for Irish Corporation Tax purposes. Determine whether Games Ltd is a 'small' or a 'large' company for the 12 month accounting period ending 31 December 2022. State when Games Ltd must pay its corporation tax in respect of the 12 month accounting period ending 31 December 2022. State also, the amounts due on each payment date