News

Taxation

Income tax

There are no changes in the existing rates or income tax bands. There are also no changes to existing tax credits.

However, Illness Benefit will now be taxed from the first day of payment; previously the first 6 weeks (36 days) were exempt from tax.

Domicile levy

The citizenship condition for payment of the levy is being removed. This will mean that liable non-residents will not be able to avoid the levy by changing their citizenship status.

Universal Social Charge (USC)

People with ...

With thanks to the O2 Ideas Room for blog posts…

1. Hire the best. Have and hire only employees who continually impress you with their initiative and competence. Let everyone else go. Increasing profits comes from great employees, not average ones.

2. Establish your R&D Department. Turn your customer service department into the R&D Department of your company. Develop a culture in your business which will encourage lateral thinking.

3. Review Customer issues. Is there a lack of effective communication channels with your customers or is ...

ROS Pay & File Deadline 2011

Revenue wishes to confirm that the extended filing and payment date for the 2010 Form 11 and any associated payment and the preliminary tax payment for 2011 for those using ROS will be midnight on 16 November 2011 rather than midnight on 15 November 2011.

The ROS Technical Helpdesk will be open until midnight on 16 November 2011.

Reduced frequency of tax returns and payments

Extension to newly eligible VAT, PAYE/PRSI, & RCT customers

Reductions in the frequency of VAT, PAYE/PRSI, & RCT tax returns and payments for smaller businesses are being extended to eligible businesses from 1 January 2012.

• Businesses making total annual VAT payments of less than €3,000 are eligible to file VAT returns and make their payments on a 6 monthly basis;
• Businesses making total annual VAT payments of between €3,000 and €14,400 are eligible to file VAT returns ...
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A facility to pay tax (excluding Domicile Levy) to Revenue by credit card is now available [limited to VISA and Mastercard].

Arrangements to pay by credit card can only be made, for the moment, by telephone. Revenue’s dedicated payment by credit card telephone service is available Monday to Friday 9:00-17:00 hours on 1890 27 37 47 (international customers +353 1 828 8045)

A person wishing to pay by credit card must ...

A number of queries have arisen with regard to the calculation of the Amount for 2011 Preliminary Tax(PT) that appears on the 2010 Notice of Assessment.

The adjustment for the Amount for 2011 Preliminary Tax is to replace the amount of income levy and the health contribution due on the 2010 income with the amount of Universal Social Charge (USC) that would have been due on that income had the USC been in place for that year. No other adjustment is ...

With thanks to the O2 Ideas Room for blog posts…

Doing public speaking can be daunting for many people. However it is a great way to promote your business. It affords you the opportunity to present yourself, your business and your expertise to a captive audience. Here are some things to take away:
1. Be authentic. If you’re going to give a presentation representing your business, be yourself. You will have enough to worry about ahead of the talk besides having to ...

With thanks to the O2 Ideas Room for blog posts…

A QR Code (short for Quick Response) is a specific matrix barcode, storing information in both the vertical and horizontal directions, readable by dedicated QR barcode readers and smart phones / camera phones.

QR Codes were originally developed in 1994 and used in the vehicle manufacturing industry for tracking parts etc, but are now being used very successfully in integrated marketing campaigns across the globe. The technology has seen a huge uptake ...

TAX INFORMATION CHECKLIST

It’s that time of year again. We have prepared a checklist as a guide to what would normally be required to complete the Annual Tax Return (Form 11).

If you need a push, you might want to read our recent article on avoiding a tax audit here.

BUSINESS

1. Books & Records for your accounting year-end. You may have these on computer, if so please contact us to ensure we can open the files. Continue Reading →
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Most people hear the adverts on the radio come October each year informing you that the Income Tax filing deadline is looming, and you have until 31 October to file your Income Tax return. A lot of individuals probably aren’t fully aware of their obligations to file a return, and what are the potential ramifications of they fail to do so.

A large percentage of the working population in Ireland would be regarded as ‘normal PAYE’ workers. That is, they are ...