A new non-resident landlord withholding tax system or NLWT as Revenue call it. I know this is not the most thrilling news you’ll hear today, but it’s important if you are in this space. We have non-resident clients who we do this work for. The purpose of the blog is to give you an idea
Revenue Risk Reviews. Oh no, I must be in trouble! A Revenue risk review letter hits the ROS inbox on a Friday morning. OMG, that’s the last thing I need, as I am heading off to the match in Galway for the weekend, thinks Mary Boone. But in the back of her mind, she knew
Be careful with redundancy payments. Why? Read on and you’ll find out. Let’s look at some of the issues involved that include Background Taxes at play Tax-free redundancy payments Case for the taxpayer Revenue Query Appeal Commissioner Summary Background To provide some background I’ll introduce you to the main characters. There’s dapper Dan O’Neil and
Having enough income in retirement is a question that we all think about as we get older. But how much is enough? It depends on your standard of living, but most people want to be comfortable. Comfortable, for me, means a decent car, going for a few meals out, and a foreign holiday. Being able
The Universal Social Charge [USC] came in after the financial crisis. It was to be a temporary tax and used to bolster the government finances. This was at a time of frequent visits by members of the IMF. But what was temporary has now become permanent. The USC is a tax, plain and simple. There
This week I’ll look at some tax tips for Inheritance Tax. Over the last two weeks, we introduced you to the Toners, Timmy the dad, and his wife Fidelma. They have two sons, Gary and Shane who are in college. To recap, Fidelma works part-time as she loves the gym and gets a great buzz
We’ll look at some examples of how tax efficiency saves money. Plus, introduce you to the main stars of this blog, the Toners. By claiming everything they can and making a few changes the Toners will save thousands in a tax year. It could be the difference between a holiday in Portugal or a day
What is a Deed of Covenant? A client asked us that question during the week. It’s a question we have on our Income Tax checklist. We send a checklist to clients to fill in before we complete their Income Tax returns. It got me thinking about covenants and the tax benefits for the payer and
To give this blog its full title I should call it Tax Refunds and the Millions Left Out There. Hundreds of millions. And it’s your money. Plus, Revenue don’t make it easy for you to get it back. It’s locked away in their secure vault! I’ve had a few different meetings in the last few
What can I claim VAT back on is a common question posed to us. The bookkeeping team here is well-versed in claiming VAT back for clients. They do this every two months for most clients and VAT can be quite a complex area with all the different rules. There will always be queries when it
