TAX

5th December 2011   Brendan Howlin the Minister for Public Expenditure and reform has announced the spending measures the Government plan to cover for 2012   Here are some of the measures: Child Benefit: Phase out the higher rates for third and subsequent child over two years. Discontinue one off grants in respect of multiple births Back to school … Read more BUDGET 2012

2011 is nearly finished. Before the year is out,  the following deadlines should be considered to ascertain whether they are applicable to your particular circumstances.  INCOME TAX Claiming refunds is time barred after four years. Any tax refunds due for year ended 31st December 2007 must be claimed by 31st December 2011. These  could include: -Medical Expenses -Bin … Read more TAX DEADLINES TO BE AWARE OF BEFORE 31ST DECEMBER 2011

The Revenue has been cracking down over the last few years on the criteria for being self employed. This has led to workers who had been self employed all along suddenly finding they must go on the payroll as the Revenue has determined they do not fit the criteria for being considered self employed. This … Read more EMPLOYED OR SELF-EMPLOYED

1) At present transfer of assets by gift or inheritance are liable to: CAT – Gift/Inheritance tax 25% CGT – Capital Gains Tax 25% 2) Reliefs available at present: agricultural and business assets qualify for a 90% reduction Capital Gains Tax exemption applies to:               a) Gifts if the transferor is over 55 years and … Read more SUCCESSION PLANNING

The biggest stumbling block when setting up a new business is finance.  Banks are trying to repair their own balance sheets, and therefore are not helping new businesses  like they used to. So you should check if grants or tax reliefs are available.  If you have a business start up idea, you may qualify for funding … Read more BUSINESS GRANTS & TAX BREAKS