Last chance to get tax back

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It is an important date as it represents the last opportunity for PAYE workers to claim back a proportion of income tax and PRSI paid in 2011. If this opportunity is not taken, it is missed forever. Furthermore, there are mutterings in the Finance Departments that pension relief may be reduced from a current maximum of 49% to 33% next year.

How it works;

1) A PAYE worker pays an extra contribution to his pension (or starts a pension)

2) He receives a ...

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Knowing your tax credits – Save €900 in tax today

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Wheter your PAYE of self employed the tax system in Ireland only issues tax credits as directed by you.

We all recieve the standard credits (single / married persons) plus the PAYE credit but thats about it.

Depending on your circumstances, and how they change can effect your credits and therefore the amount of tax you pay !

 

For starters if you are married, and have children, and one spouse has either no income or earns less than €7,000 per annum, you can ...

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If you need a tax clearance certificate in a hurry, write to me at

info@mytaxreturn.ie

for an express application.

 

 

 

A Tax Clearance Certificate is a written confirmation from Revenue that a person’s tax affairs are in order at the date of issue of the Certificate. In some instances a Certificate may be issued to a customer who has tax arrears provided such arrears are covered by an instalment arrangement that has been agreed with Revenue.

The requirement to produce a Tax Clearance Certificate usually ...

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How your ‘family’ can save you tax!

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Complementing this is for you yourself to invest a bit of time into learning the tax system and becoming aware of the various schemes out there to help you learn the tax system.

This article looks initially at the most obvious people who will help reduce your tax liability.

It’s not your employer, it’s not your bank manager and it’s not your local politician! It’s much closer to home than that. It’s your family!

Here are ten tips to help you maximise tax ...

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Sick Pay is tax free…

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We welcome any tax related questions to this web blog. A friend asked me an interesting question in relation to sick pay for PAYE and the possibility of a tax refund. Here is that point –

Q. I was off sick for 3 weeks in 2010, and my employers paid me full pay.

Cheques I got from the social welfare for sick pay I handed back to my employers.

A colleague mentioned I could be ...

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Nursing Homes tax relief at 41%

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Nursing home fees still allow tax relief at 41%. This means if you are paying

€20,000 per year to a nursing home you can

claim back up to €8,200 in tax if you are paying

tax at the higher rate.

older-people-the-web1

If your son/relative or other family are paying this for you they can claim this relief.

Always remember, to use up all tax credits that are available to you…..OR your family !

Review who is paying tax, and ...

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Farmers – Get the full tax benefit of Farm Waste Management

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There is a special Capital Allowances Scheme for work on farm buildings and structures associated with pollution control where the work is carried out before 31st December 2010. There is an accelerated allowance in Year 1 of the lesser of €50,000 or 50% of the qualifying expenditure. This Year 1 allowance is regarded as a “floating allowance” which may be taken in whole or in part at any time over the writing down period. The balance of the expenditure is ...

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Know your tax Credits – Having kids can pay off!

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Wheter your PAYE of self employed the tax system in Ireland only issues tax credits as directed by you.

We all recieve the standard credits (single / married persons) plus the PAYE credit but thats about it.

Depending on your circumstances, and how they change can effect your credits and therefore the amount of tax you pay !

 

For starters if you are married, and have children, and one spouse has either no income or ...

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Partnerships can save tax.

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If you are in business as a sole trader, and you are paying tax at the higher rate (41%) you could possible reduce this liability by forming a partnership to increase your tax cut off points.

This could apply to brothers, sisters, spouses, etc.

Partners can combine their tax cut off points (€32,800 + €32,800) = €65,600 at the standard rate instead being assessed seperatly and paying tax at the higher rate.

Contact us ...

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PAYE Tax Refund – last chance approaching

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Note – if you are a PAYE tax payer and have not claimed all your tax credits for 2008, the deadline to apply for this cash back is fast approaching. You can claim for things like :

 

 

  • Service charges
  • Medical Expenses
  • Rent Relief
  • Pensions contributions
  • Marriage tax credit
  • Tuition fees (3rd level colleges)
  • And more..

 

If you would like further information on what refund you could be entitled to call us today at our new number

071 91 47580 or ...

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