Archive for the ‘Tax’ Category

Professional services withholding tax

Oct 12

What is Professional Services Withholding Tax? Professional Services Withholding Tax(PSWT) Is a deduction from payments made by certain public bodies for professional services provided to them. These bodies are known as accountable persons for the purposes of the PSWT scheme. Is Professional Services Withholding Tax Another form of Taxation? (PSWT) is not an additional tax. […]

Keep Reading

Pay and file deadline

Sep 17

Pay & File 2010 The final filing date for submission of the paper version of the 2009 Income Tax return (Form 11/11E) is the 31st October 2010. As this date falls on a Sunday, Revenue has put the following arrangements in place: Over the course of the weekend, returns and payments may be dropped in […]

Keep Reading

Pay and file deadline – Get a quote

Sep 9

As if you need any reminding, income tax returns for 2009 are due for filing by 31 October 2010. An extended deadline of 16 November applies to taxpayers who use the Revenue On-line Service to make payments and file their returns. These deadlines also apply to the payment of any balance of income tax due […]

Keep Reading

Tax Relief for Pension Contributions: Application of Earnings Limit in the case of Doctors with General Medical Services (GMS)[1] and private practice income

Sep 7

Tax Briefing 74 (September 2009) set out the operation of the aggregate earnings limit in situations where an individual has both earnings from employment and income from self-employment and makes contributions to both an occupational pension scheme/statutory scheme and a personal pension plan/PRSA. In light of requests for clarification, this article illustrates the operation of […]

Keep Reading

Self Employed Accounts

Sep 6

With more and more entrepreneurs starting up businesses self employed accounts is something I get asked about quite often. Self employed individuals (sole traders and partnerships) will need the following information to prepare their accounts for tax purposes: Business takings, (Revenue, Turnover) All items of expenditure incurred, such as purchases, rent, lighting, heating, telephone, insurance, […]

Keep Reading

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: […]

Keep Reading

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. […]

Keep Reading

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 […]

Keep Reading

Tax Return Help Form 11 – Rental income

May 25

Are you confused about your Tax Return? Do you have unused capital allowances from a prior year? Rental income Unused loss from a prior year Accelerated capital allowances Maintenance payments Foreign Rental income Exempt income Retirement Annuity Contracts Capital Gains We can help. We offer fixed prices for each tax return (form 11) which are […]

Keep Reading

PAYE Tax Refund

May 13

After a lot of hard work and testing I am proud to launch our Tax Refund website. If you are an employee you may be entitled to a refund if any of the following apply to you. * Tax Refund claims for Medical Expenses * Tax Refund Claims for Medical Insurance * Home Carers Tax […]

Keep Reading