Archive for August, 2012

Revenue eBrief 20/11 announced the availability of a facility to obtain a pre-populated ROS Form 11. A ROS release over the weekend of the 12/13 May has made a couple of enhancements to this facility.

Payments received from the Department of Social Protection.

Information on payments received from the Department of Social Protection (DSP) in the year 2011 will be made available where this information has been received from the Department. The nature of the payment and the amount received (either ...

Brief explanation of some terms you would prefer not know !

Seizure of Assets by Sheriff  (IE County Registrar).

Execution Order is served on the Sheriff directing him to seize goods to the value of the debt.

Rarely successful – thorny question of who actually owns the goods ie wife, parents etc.

Also the goods might be borrowed.

Attachment Order

Debtor obtains an attachment order of Garnishee Order directing that money (ie rent, salary. Pension etc.) to which the debtor is entitled be redirected to the ...

Farming has been one of the oldest trades to survive in Ireland, and with minimal profits to be made from this industry today; most farmers are in it for pleasure more than gain. However, there is potential to reduce gains made on your farm income by following these steps.

1. Employing family members.

You can employ a son or daughter to work part time on your farm. They can earn €9,150 in 2008 without paying tax. This saves you, the farmer €3,751 ...

Make the most of all tax breaks out there especially ones which are easy to apply!

E working is where the Revenue Commissioners allow you to pay someone €3.20 a day for working at home for your business.

This could be your son or daughter doing valuable research for your business on the net in the comfort of their own room!

That adds up to €1,168 per annum and that €478 of a tax saving if you are in the higher bracket.

Make sure ...

If your spouse is a director of your company do not give him/her more than 15% shareholding if they are being paid a salary otherwise they will loose the PAYE tax credit worth €1,830.00

For more information contact us…

info@mytaxreturn.ie

f like me you have taken out a top up on your mortgage and may have 2 mortgage accounts  watchout for your lender not giving you mortgage relief on the top up repayments.

What appears to be happening is your relief is being based on when the mortgage originally started -you have 7 years of interest to claim.

If you take a top up mortgage say 3 years after you first took out a mortgage then you should also get 7 years ...

If you are self employed and have your own company, here are the rates you should be using to claim for things like travel, meals, and overnights.

It is far better from a tax point of view to use these rates, than actual receipts  a sole trader would o use in his calculation of business expenses.

It is one of the reasons you can justify going the limited company route than using the sole ...