You can go the traditional route and post a cheque Collector-General’s Division ,Sarsfield House, Francis Street, Limerick. I generally wouldn’t recommend this as it doesn’t provide a proof of payment like some of the other methods and the cheque may get lost somewhere along the way. Also cheques generally cost more than other payment methods.

Laser or other debit card , When you hit the payment screen on the revenue there is a drop down for “Debit Card Payment”

Online Banking – A new addition to ROS this year allows Bank of Ireland and AIB customer to pay their tax bill using online banking

ROS users may also set up a ROS debit instruction allowing them to make a payment directly from their bank account to the collector general. This is very simple to set up and can assist with cashflow planning as the user decides when to make the payment.

For example in the tax year 2010 Niamh, a sole trader makes a tax loss in her trade , but pays tax in her part time PAYE position, the sole trader (Case I) loss can be offset against the tax paid in the PAYE position.

If there is no other income to offset the loss against then the loss can be carried forward. But if carried forward the loss can only be used to offset profits in the same trade.

To do this Niamh should enter the loss at line 112 on the return.

If you require any advice on the matters above please do not hesitate to contact Ralph on 01 – 4800531

If you hire sub contractors on a regular basis this is an area you should pay attention to as the penalties and fines could be significant.

He/she is an employee if some or all of the following apply:

Is under the control of another person who directs as to how, when and where the work is to be carried out
Works set hours or a given number of hours per week or month
Does not supply materials for the job
Does not provide equipment other than the small tools of the trade
Is not exposed to personal financial risk in carrying out the work
Receives a fixed hourly/weekly/monthly wage
Is entitled to extra pay or time off for overtime
Is entitled to sick pay
Receives expense payments to cover subsistence and/or travel expenses
Supplies labour only
Cannot subcontact the work
Does not assume any responsibility for investment and management in the business
Does not have the opportunity to profit from sound management in the scheduling of engagements or in the performance of tasks arising from the engagements
Will normally be covered under the employer’s public liability insurance
Works for one person or for one business

He/she is self-employed if some or all of the following apply:

Has control over what is done, how it is done, when and where it is done and whether he or she does it personally
(In the construction sector for health and safety reasons, all individuals are under the direction of the site foreman/overseer. The self-employed individual controls the method to be employed in carrying out the work.)
Controls the hours of work in fulfilling the obligations of the contract
Provides the materials for the job
Provides equipment and machinery necessary for the job, other than the small tools of the trade
Is exposed to financial risk, by having to bear the cost of making good faulty or substandard work carried out under the contract
Costs and agrees a price for the job
Receives an agreed contract payment(s) without entitlement to pay for overtime, holidays, country money, travel and subsistence or other expense payments
Is free to hire other people, on his or her terms, to do the work which has been agreed to be undertaken
Assumes responsibility for investment and management in the enterprise
Has the opportunity to profit from sound management in the scheduling and performance of engagements and tasks
Provides his or her own insurance cover as appropriate e.g. public liability insurance, etc
Owns his or her own business
Can provide the same services to more than one person or business at the same time
It should be noted that:

A worker paid by results (piece worker, commission, by share) is not automatically a self-employed contractor;
The fact that an individual has registered for self-assessment or VAT under the principles of self-assessment does not automatically mean that he or she is self-employed;
A worker who is a self-employed contractor in one job is not necessarily self-employed in the next job. Each job must be looked at separately.

For further details CPD Galway

I went to check out the site to see how it looked and its a very good phishing attempt.

As you can see they have obviously spent time matching AIB’s theme and design right down to showing AIB’s actual phishing alert email address.

Some very obvious signs the page is fraudulent are

Firstly the URL,

AIB links to its online banking service from AIB.IE if AIB.IE is not the URL then its not AIB

Secondly the phishing page is asking you to enter your eight digit registration number on a page which is not secure.

Below I have the genuine and fraudulent address bars. You can see that the fraudulent site does not have the HTTPS, If the ‘S’ is not in the address bar then don’t ever enter your banking or any secure details.

AIB Genuine Log in URL

AIB Fraudulent Log In

About the Author : Ralph Smith is an Incorporated Public Accountant and Member of the Association of Certified Fraud Examiners
 
For training on Fraud Prevention please visit Fraud Prevention Training

1. Check your records, If you miss a sales invoice you could understate your tax and ultimately be fined, if you miss a purchase/ expense invoice  you could pay more tax than you need to (Not good)
2. Try to avoid the shoe box of doom. Sending your accountant a shoebox full of paperwork will increase your bill as they have to spend time sorting through it and entering the data. If your too busy / lazy to send in an excel sheet with your information at least use a tool like Plendi to capture the data.
3. Don’t put crazy expenses in. Unless their protective you cant claim for shoes, so take the receipt out for the Jimmy Choo’s
4.  Read the revenue guide to allowable expenses
5. If you are a company director or employee ensure you claim your correct mileage and subsistence 
6. When you get your accounts back from your accountant take a careful look at them. Are your sales down on a previous year? Are your expenses up? Use the information to improve your business.
7. Don’t forget your medical expenses ,service charges and rent tax credits



8. If you’ve gotten married recently or are in a civil partnership make sure the revenue know. 
9. Certain social welfare payments are taxable. If you received one during the year be sure to check if yours is, Even if its not taxable it may have to be shown on the return.
10. If you can’t afford to pay your tax bill speak to the revenue as soon as possible. If you ignore it they will take action. If you contact them and make payment plans you can work it out.

Heres my solution

How to store phone numbers in excel

Head of Consumer Protection, Sharon Donnery said: ‘Consumers need to be made fully aware of the complexity and very high risks of CFD and financial spread betting before making investment decisions. Losses can be substantial and people should know what they are getting into. The Central Bank is concerned that none of the firms inspected were fully compliant with the regulations in this area. In particular, some of these investment firms are failing to fully inform and provide adequate warnings to consumers of the risks that CFD and financial spread betting carries before they begin trading.’

Compliance issues identified during this inspection are being followed up with the firms concerned and the Central Bank is considering enforcement action in some cases. The Central Bank has informed all CFD and financial spread betting firms of the findings and has requested that they are considered in the context of their businesses.

The main inspection findings are:

Lack of sufficient information gathered by firms: It was found that a significant proportion of application forms used by firms were inadequate and did not obtain sufficient information on clients’ knowledge and experience with financial transactions. It was also noted that many application forms had not been fully completed by clients.

Inadequate assessment of appropriateness: Under the MiFID Regulations firms are required to take into account the information gathered, such as the client’s knowledge and experience, to assess whether the product or service is appropriate for the client. If a firm deems a product or service is not appropriate for a client or potential client, they must warn them of this. It was found in some firms that the assessments of appropriateness were inadequate or were not carried out at all. It was also noted in some firms that, where required, clients or potential clients were not warned that the service was not appropriate for them.

Misleading marketing material: In some cases the marketing material used by firms was misleading and not sufficiently balanced to outline both the benefits and the risks of CFD and financial spread betting as required under MiFID Regulations. Many promotions were found to set out the relative benefits of CFD and financial spread betting in comparison with share trading, without setting out the relative disadvantages.

Inadequate risk disclosures: Risk warnings and disclosures on websites and documentation were not always adequate to convey the risks associated with CFD and spread betting fully to clients and potential clients. For example, risk warnings should state, where applicable, that losses could exceed initial investment and should also refer to the effects of price volatility.

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