Archive for 'Business Tips'

Starting your own Business – A Revenue Guide

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How to make your tax return less of a bitter pill

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With thanks to the O2 Ideas Room for blog posts…

As everyone knows a visit to the doctor followed by a trip to the pharmacy is a very costly couple of hours! But did you know that there is a health expenses tax credit?

You can claim tax relief in respect of the cost of certain medical expenses paid by you. The tax relief up to 2008 was given at the marginal rate of tax of 41pc. However, from 2009 onwards, relief ...

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Revenue chase extra Tax on Pensioners

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Revenue Commissioners are now targeting pensioners for failing to declare untaxed income.

Revenue Target pensioners TaxRevenue are having to find ways of boosting their tax take. By the sounds of it they are beginning to communicate more effectively with the Department of Social Protection and cross checks are proving revealing.

In this case, some pensioners are receiving both the state ...

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Using Excel for Bookkeeping

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Excel is part of Microsoft Office’s productivity suite, a line of software that also includes programs such as Word, PowBook keepingerPoint and Outlook. Microsoft released its most recent version of Office — and Excel — in 2010. The Excel program gives you access to spreadsheets and all the tools you need to make computations therein. Excel’s spreadsheets are a ...

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Budget 2012

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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 ...

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7 Top Tips For Keeping And Growing Your Customer Base

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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 ...

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Reduced frequency of tax returns and payments

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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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Payment of Tax by Credit Card

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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 pay ...

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Amount for 2011 Preliminary Tax

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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 ...

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Getting the most when speaking about your Business

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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 ...

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