It’s the time of year when I see a lot of company and personal taxes interlink. This interaction can have both positive and negative results for the client. Sorting out a company tax issue can lead to a tax liability for the owner. It’s not all negative, though, as you’ll see how a bonus in
Some changes came in at the start of this year for Entrepreneur Relief. The changes to Retirement relief came in at the start of 2025. These reliefs are separate Capital Gains Tax reliefs that can save you lots of tax if you qualify. I’ll look at the basics of both and outline the recent changes.
A tax refund for a non-resident is one of the first cases before the Tax Appeals Commission this year. It’s a short case at 10 pages. When the page numbers are low, it’s usually not a good outcome for the taxpayer. Then you read the first page, and you know there’s only one result here.
We’ll look at moving assets from your company to another company. We’ll also examine why you’d want to do that. And how a holding company structure is a good option for you. Let’s look at Background Why move assets? Holding company Group Structure Summary Background Tom Hillfigure owns 100% of Wetgear Ltd, a farm clothing
This is a short blog about the power of revocation and the taxes involved. In simple terms, think of gifting someone an asset but having the power to cancel or withdraw that gift. The idea came from some training I did with Omnipro during the week. It was interesting because it highlighted the cost of
I’ll bring you through a few pre-year-end tax planning tips. I was going to call this blog “A few bob for Christmas”, but I put that into Google, and various “bob” hairdos came up. However, the idea behind this is to either pay yourselves a few bob or save a few bob. Let’s look at
Should I defer my state pension? In some cases, absolutely not, but in other cases, it makes sense. A client asked me this question recently, and my answer was certain. No way, you need to get your state pension at 66. Another client wanted to delay receiving his. That was more for personal reasons, which
I will look at negligible value losses for CGT. I’ll review a recent case that went to appeal and the meaning of words that can work for or against a taxpayer. Let’s look at Background Case for Pat Case for Revenue Commissioner’s Findings Lessons we learn Background Mary Noonan sold land in 2023. She made
You are leaving employment and setting up a company – wow, your own company. That’s something to be very excited about. You are becoming self-employed. That’s a little scary as it’s a step into the unknown, but it has lots of opportunities too. It’s scary because you now must generate the income to pay yourself.
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
