Word to the wise, T, don’t do your own tax return! Paulie “Walnuts” often used the “word to the wise” phrase when advising his mafia boss, Tony Soprano. It was to protect him so he wouldn’t end up “sleeping with the fishes.” The key message in this blog is that it can be dangerous to
In this Tax roundup, I will talk about a few things I have seen over the last few weeks. A few tips that can save you money or even stop you panicking in a tight situation. There’ll even be a paragraph where I go all “Victor Meldrew” about Revenue. I’m trying to stay calm, as
Tax is one of the main advantages for a non-resident purchasing a buy-to-let over a resident. Taxes are lower for a non-resident, in most cases. A non-resident will pay tax at 20% on the first €44,000 of rental profit. Whereas a resident will pay tax of up to 52%, assuming their lower rate band is
Residential Premises Rental Income Relief [RPRIR] is a new tax relief for landlords. It is only available to individual landlords and isn’t available to companies, trusts, or partnerships. RPRIR is a relatively new relief, and it applies for the four tax years 2024 to 2027. 2025 is the first year to claim the relief for
The theme of this blog is Revenue interventions and the sectors where they get extra cash. Extra cash means the tax owed, plus the interest & penalties. Revenue love interventions in the construction industry. One could say it’s an obsession of theirs. Yet, it’s rental and the professions that they get most of their money
I will look at the tax promises of the three largest parties, Fine Gael, Fianna Fail, and Sinn Fein, from Election 2024. Shifting through election manifestos the night before the election wasn’t in the plan for last night. But then when I got into it, I found some of the promises were very interesting. And
We provide a collection agent service to our non-resident landlord clients. We’ll talk about what the service is, why you need it, and what we do and don’t do. Plus, we’ll give you an example of how it all works. The main focus points will be Non-resident landlord What we do What we don’t do
We’ll look at some tax tips when buying rental property. Last week I introduced you to Timmy and Fidelma Toner. They had a lot of outgoings but got a very nice tax refund for 2023. Enough to fund a good summer holiday on the Algarve and leave their boys at home. They had a combined
I want to give you some Tax Tips when coming to Ireland. What I mean by coming here is staying here for a prolonged period. As such, you’ll become resident here. The idea for this came from a recent meeting I had with a Swiss couple. The lady, who we’ll call Mary, is from the
We’ll have a look at some of the Revenue Focus Areas for 2024. Some of the usuals continue to appear and it doesn’t take a genius to know why. There are a few new target areas too. You may know some of these. Revenue have so much information on us that they could do a
