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 mobile ...

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Self employed – reduce your tax bill here ..

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The October 31st tax deadine for the self employed is fast approaching.

You may have your annual return completed at this stage and found your tax bill a little to high !

With increases due to the universal social charge and reduced tax credits your tax bill will get higher !

However, there are ways which your accountant can employ to reduce this bill.

Listed below is a sample of what can be done….

If you ...

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Revenue Job Assist – increased tax credits !

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Revenue Job Assist

Information

Revenue Job Assist is an additional tax allowance for people who have been unemployed for 12 months or more and who are now returning to employment. An extra tax allowance can be claimed for each qualifying child (see below). The tax allowance can be claimed for 3 tax years and may begin with either the tax year in which the employment commences or the following tax year. The ...

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Business Reporting Ireland Ltd/Revenue Present the XBRL Roadshow

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Information and Booking Details

Business Reporting Ireland Ltd. is a company formed to promote the development and adoption of XBRL (eXtensible Business Reporting Language) in Ireland. The members of XBRL Ireland are Central Statistics Office, Chartered Accountants Ireland, Companies Registration Office, Deloitte, Ernst & Young, Irish Tax Institute, KPMG, PwC and Revenue.

Purpose of Roadshow

The purpose is to advise tax filers, be they practitioners or corporates, of what is involved in filing in XBRL with Revenue, where optional go-live date for all ...

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Revenue accepting payment by Credit Card…

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Credit Card Payments Using the Revenue On-Line Service

A facility to pay tax by credfit card [limited to VISA and MasterCard] to Revenue using the Revenue On-Line Service [ROS] is now available. A person wishing to pay by credit card via ROS must pay a transaction charge, of 1.49% of the value of the payment. This charge is purely related ...

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No to extending mortgage interest relief – Noonan

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The government does not plan to extend mortgage interest relief introduced in last year’s budget for new home buyers this year.The government provided 25 per cent mortgage interest relief for first-time buyers and 15 per cent relief for non-first time buyers for purchases in 2012.

“I want to emphasise that this mortgage interest relief measure will come to an end at the end of this ...

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Revenue Publish Defaulters List

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Today’s edition of Iris Oifigiúil contains details of published settlements completed by Revenue. It also contains details of penalty determinations made by the courts in respect of taxpayers who have deliberately or carelessly made incorrect returns in the period 1 January 2012 to 31 March 2012.

The list is published in two parts:

Part 1 lists every person upon whom a fine or other penalty was imposed by a court. This includes the following categories:

  • Failure to file a return
  • Filing an incorrect return
  • Illegal ...
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Funding for Start Ups.

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Finding investors for your startup can be tough. Luckily, there are well-established routes for Irish startup firms to apply to organisations such as Enterprise Ireland or local Enterprise Boards.

Here’s a brief overview of nine popular avenues for state-supported startup funding in Ireland.

…..

1. Enterprise Ireland: High Potential Startup (HPSU) fund

Every year, Enterprise Ireland picks out companies that it thinks could be ‘the next big thing’ to come out of the country. The agency puts its money where its mouth is by ...

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Record Keeping

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We outline the package that suits your business, to ensure you keep
all necessary records and file the required returns.

Record Keeping
• Manual Accounts
• Computerised accounts
(recommendations)
• What’s allowable!
• What expenses are tax
deductible
Dealing with your Accountant
• What you must provide
• What service you can expect
• A guide to fees

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Tax Returns

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Upon filling in the TR1 form to register as a sole trader, who will have the choice to register for a number of taxes.www.revenue.ie/en/tax/vat/forms/formtr1.pdf
Income Tax – this is the tax payable on the profit generated from your business.
The rates of tax are silimiar to that applicable to a PAYE individual ie same tax bands apply.
However, with the tax credits you loose the ability to claim the PAYE tax credit as you are now self employed. Offsetting this ...

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