Archive for August, 2012

General Information

Introduction

You may claim tax relief in respect of the cost of certain medical expenses paid by you. You cannot claim tax relief for any expenditure which:

• has been, or will be, reimbursed by another body such as the VHI, Quinn Healthcare, Hibernian Aviva Health, the Health Service Executive or other body or person
• has been, or will be, the subject of a compensation payment
• relates to routine dental and ophthalmic care.

Further details on the main medical expenses that qualify for relief are ...

I have had a few queries recently on whether self employed people can get ‘cycle to work’ tax relief on the purchase of a bicycle.

The relief that exists at the moment is aimed at getting PAYE workers to purchase bikes and they can save up to half the cost of a new bike if they are on the higher tax rate, if you include PRSI. (more info at http://www.bikescheme.ie/)

Anyway, the joys of being self employed continue as yes, you ...

The carers tax credit is available to married couples paying tax and can be worth up to €900 pa.

To get it you have to be jointly assessed, the income of one spouse must be €5k pa (to get the €900) and up to €7k where the credit goes on a sliding scale.

Contact us today for more information and don’t forget if you have not claimed it this year you can go back ...

It is an important date as it represents the last opportunity for PAYE workers to claim back a proportion of income tax and PRSI paid in 2011. If this opportunity is not taken, it is missed forever. Furthermore, there are mutterings in the Finance Departments that pension relief may be reduced from a current maximum of 49% to 33% next year.

How it works;

1) A PAYE worker pays an extra contribution to his pension (or starts a pension)

2) He receives a ...

Wheter your PAYE of self employed the tax system in Ireland only issues tax credits as directed by you.

We all recieve the standard credits (single / married persons) plus the PAYE credit but thats about it.

Depending on your circumstances, and how they change can effect your credits and therefore the amount of tax you pay !

For starters if you are married, and have children, and one spouse has either no income or earns less than €7,000 per annum, you can ...

Complementing this is for you yourself to invest a bit of time into learning the tax system and becoming aware of the various schemes out there to help you learn the tax system.

This article looks initially at the most obvious people who will help reduce your tax liability.

It’s not your employer, it’s not your bank manager and it’s not your local politician! It’s much closer to home than that. It’s your family!

Here are ten tips to help you maximise tax ...