Reduce your Capital Gains Tax Bill – Accountants Galway

If you are lucky enough to have some shares which have increased in value one way of reducing your liability to capital gains tax is to make full use of your annual exemption every year. (and your spouses if married)

Every year each tax payer has an annual exemption of €1270
For example if you bought some shares in January 2009 for €1000
and sell those shares in January 2010 for €3000 the CGT due is calculated as follows

€3000 – €1000 = €2000 Gain.
€2000 less annual exemption of €1270 is a taxable gain of €730 which is taxed at 25% so capital gains tax due is €182.50

Now if you have shares which have gained in value in 2010 but aren’t planning on disposing of them them you will loose the benefit of your €1270 annual exemption so my suggestion is every year sell at least just enough shares to have a gain of €1270 which makes full use of your annual exemption and ultimately reduces your capital gains tax liability.

If you require any further information or advice please contact us on
or phone 091-442 882

should i register for vat

Do I have to register for VAT ? – Galway Accountant

This is a common question I am asked. Do I have to register for VAT? I have created a very simple decision tree/ Flow chart to help you make this decision.
This diagram is not conclusive there may be other variables to consider before you start trading so its important to complete proper research or take professional advice.
If you have any questions or comments please do not hesitate to post them below or contact me on

should i register for vat

should i register for vat

Some points to note
1. The €37,500 threshold applies for persons supplying goods liable at the 13.5% or 21.5% rates which they have manufactured or produced from zero rated materials,
2. The €75,000 Threshold applies to persons supplying both goods and services where 90% or more of the turnover is derived from supplies of goods (other than of the kind referred to at 1. above)