Archive for June, 2010

What is preliminary tax – Accountants Galway

Jun 22

Preliminary Tax is an estimate of your total tax bill for the year which you pay on the 31st of October every tax year. Its important to remember that preliminary tax also includes PRSI, Health Levy and Income Levy The amount of Preliminary Tax paid for any year is not less than the lower of: […]

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Rent a room relief – Tax Saving Tip

Jun 4

Rent a Room Relief – where a room (or rooms) in a person’s principal private residence is let as residential accommodation, gross annual rental income of up to €10,000 (€7,620 in 2007) is exempt from tax. This does not affect an individual’s entitlement to mortgage interest relief or CGT exemption for a principal private residence. […]

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RCT – Relevant Contracts Tax

Jun 3

If you are a principal contractor, You must deduct Relevant Contracts Tax at 35% from payments made by you to an unauthoriesed subcontracted you have engaged to carry out relevant contract for example: meat processing, construction operations or meat processing on your behalf. You do not need to deduct RCT payments from a subcontractor who […]

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