Tax and accountancy issues of today
Information for schedule e workers who may have other income or who have not claimed all their tax credits
Finance Act 2015 introduced a tapered PRSI Credit for those whose gross weekly earnings are between €352.01 and €424. The maximum weekly PRSI credit available is €12 and is reduced by one-sixth of earnings in excess of €352.01 up to €424. There are three separate calculations involved: 1.Calculate the PRSI Credit: Maximum PRSI Credit … Read more A NEW PRSI CREDIT IS AVAILABLE SINCE 1ST JANUARY 2016
From 1st July 2015 the Irish Civil Service distance and rates requirements have been updated. The distance requirements provide that: an overnight allowance which covers a period of up to 24 hours from the time of departure as well as any further period not exceeding five hours will only be payable free of tax in … Read more REIMBURSEMENT OF SUBSISTENCE EXPENSES TO EMPLOYEES (INCLUDING DIRECTORS)
Various bodies are calling on the Government to end the discrimination suffered by the self employed under the taxation system. Small businesses with under ten employees are the life blood of the country. The owners of these businesses take risks starting up and work hard to keep them running. Yet there is a disparity to … Read more CALLS FOR END OF THE DISCRIMINATION AGAINST THE SELF EMPLOYED
Tax relief can be claimed on certain medical expenses and nursing home fees. Medical expenses Tax relief can be claimed on certain medical expenses paid less any reimbursements (medical insurance, compensation). The relief is given at the standard rate of tax of 20%. Routine dental and ophthalmic care is excluded. Nursing home fees Nursing home … Read more MEDICAL EXPENSES AND NURSING HOME FEES
Not many employees realise that they can claim flat rate expenses as a tax relief. Flat rate expenses relate to expenses incurred in the performance of the duties of employment. The Revenue has agreed a set amount for each eligible employment. The Revenue have issued a list of eligible employments and the flat rate that … Read more EMPLOYEE FLAT RATE EXPENSES