Entries by admin

Is there VAT on the plastic bag levy?

No. When calculating a VAT liability, retailers who account for VAT under a retailer’s scheme should simply exclude the levy from the sales / turnover figure. Retailers who do not use a retailer’s scheme should ensure that the levy is not included in the taxable amount for VAT.

Where do I get a VAT certificate?

Sometimes when dealing with suppliers in the EU you will be asked to provide a VAT certificate. This is simply a certificate of taxable status which can be ordered from the revenue on the following link   http://www.revenue.ie/en/tax/vat/forms/vat66a.pdf   In the short term the vendor can verify your VAT registration details on the following link […]

Corporation tax exemption for start up companies

Section 34 of the Finance Act 2011 provides for the extension of the 3-year tax relief for start-up companies to those companies which commence a trade in 2011. It also modifies the existing relief so that the value of the relief will be linked to the amount of employers’ PRSI paid by a company in […]

Empty homes – Ireland V London

I read an article this morning in the economist that London a city of 8 million people has just 24,000 long term empty homes. The article is available here  This reminded me of a similar article I had read relating to Ireland on Bloomberg. The article stated that  Ireland a country of 4.6m inhabitants has an […]

Benefit in kind on preferential loans – Budget 2013

There will be an increase from 12.5% to 13.5% in the specified interest rate to be used in calculating the taxable benefit arising on preferential loans. Where the preferential loan is a home loan, the specified rate will be decreased from 5% to 4%. Its important to note in this time of low interest rates that […]

Tax deduction on large pensions

Changes will be put in place in 2014 to the maximum allowable pension fund at retirement. Tax relief on pension contributions will only serve to subsidise pension schemes that deliver income of up to €60,000 a year. This will take effect from 1 January 2014. Tax relief on pension contributions will continue at the marginal […]

How much preliminary Tax to pay

Preliminary Tax Preliminary Tax is the estimate of Income Tax and USC / PRSI payable by you for a tax year and must be paid by 31 October in the year in question.(This may be extended if paying and filing on Revenue online ROS) In calculating your Preliminary Tax payment you should ensure that it […]

Store mobile numbers in Excel

When storing mobile numbers in excel you will often find that unless you put a ‘ in front of the mobile number (Storing it as text) Then the 0 at the start of the number will disappear. Heres my solution