Having tax clearance all the time is very desirable. You only know this when you don’t have it. It could be that you don’t have it now, but don’t realise it. It’s not desirable or attractive in the James Bond sense, but more in the “this puts money in my pocket sense”. Not only that,
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
This week, I’ll look at a Revenue review of your Taxes. What prompted this is a Revenue letter that a former client got to review his taxes for four years, from 2021 to 2024. We did his tax returns for 2021 and 2022. He needed help to get set up right after a divorce in
Our last blog was about Revenue focus areas for 2024 that will continue into 2025. But our Revenue friends have made things very clear for us with a specific list of focus areas for 2025 too. They will increase the pressure on non-responders to queries and intervention letters. Their view is this sort of behaviour
Mary O’Leary had a Revenue Profile Interview earlier this month. Mary is an auctioneer. It was mid-July and Mary was sitting in her office after her morning coffee on the seafront. Pat, the friendly postman, drops the day’s mail on the desk, and off he saunters again. Mary has half switched off as her holiday
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
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
Revenue audits, tax collection and tax compliance are all things that can be a little scary to business owners. All these things could have you thinking: is Revenue watching me? I was on a tax course with Omnipro last week and Brendan from MK Brazil was the speaker. He was excellent as usual. One of
Every Friday evening I get a news update from the Institute of Tax. At times it has very little that is relevant to our clients and other times it has lots of great information. Last Friday was one of those times where it had plenty to offer. Here’s what we’ll be covering in this Mid-Year
It’s great to see a stretch in the evenings and brighter days following the near monsoon earlier in the week. A lot of very stressed-out parents are ecstatic that their little pride and joys and going back to school. Food bills will fall and relaxing tea breaks will rise. The hair is gone beyond ridiculous.
