Tax and accountancy issues of today
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
How to distribute your assets after death is a very personal decision. However it is important to keep tax issues in mind before making a final decision. The beneficiary will pay Capital Acquisitions Tax (CAT) at 33%(2015 rate) on any inheritance over the tax free threshold The tax free thresholds for CAT are: Group A: … Read more FINANCIAL CONSIDERATIONS WHEN MAKING YOUR WILL
The Finance Act 2014 introduced changes to the system of issuing tax clearance certificates to take effect from 1st January 2016. All Tax Clearance Certificates issued between 1st April 2015 and 30th June 2015 will have an expiry date of 31st December 2015. March 31st 2016 will be the expiry date for all certificates issuing … Read more TAX CLEARANCE CERTIFICATE CHANGES
A first time buyer of a house or apartment who purchases or self builds a property between 14 October 2014 and 31 December 2017 may be entitled to claim a refund of Deposit Interest Retention Tax (DIRT) paid on interest received. The relief is confined to the DIRT deducted from the interest received on savings … Read more DIRT FIRST TIME BUYERS RELIEF