Written by Administrator on March 5, 2015
One question I hear a lot is ‘Why did my friend get a larger refund than me?’. Well….how long is a piece of string? Really, the answer to that question is far from straightforward, as differences in refunds can be due to any amount of reasons.
What we find is people of a similar age and circumstances are often confused as to why their friends got a better refund and really one of the major reasons can be the type of job they’re
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Written by Administrator on February 24, 2015
Last week, Sarah took a look at the ways Social Welfare can affect your tax bill – which in many cases could mean you owe Revenue additional taxes. However, I recently had a client where quite the opposite happened and resulted in a refund of over €7,000! So, I thought it was worth sharing.
The client had been receiving the One Parent Family Payment until 2009 when her daughter turned 18 years old. Given this is a taxable source of social
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Written by Administrator on February 19, 2015
Many of our clients have received some sort of social welfare income over the years and it always seems to be a key area of confusion when it comes to how it affects their taxes. Some have gone ahead and requested a P21 to see if they are due a refund, only to receive notification that they owe Revenue additional taxes.
Here, I take a look at four key ways social welfare income can affect your tax bill.
1. Most Social Welfare
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Written by Administrator on February 5, 2015
We all have medical expenses of some nature – maybe the odd trip to the doctor or a prescription to treat a niggling flu – but I’m amazed by the amount of people who don’t bother to check if they can claim tax relief on them. I don’t know about you, but if there’s any possibility of claiming some of my taxes back, I’m up for it!
In short, you may claim tax relief of 20% on the cost of certain
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Written by Administrator on January 27, 2015
It was good while it lasted – but gone are the days when both parents could claim the One Parent Family Tax Credit (OPFTC) if they weren’t co-habiting and the child stayed with you at least one night during the year.
From the 1st January 2014, the OPFTC was replaced with the Single Person Child Carer Credit (SPCCC). The key difference between them is that only one parent can claim the credit and that is generally the person with whom the child lives
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Written by Administrator on January 20, 2015
So you’ve got your P60? What do you normally do with it – Bin it? File it? Leave it in the glove box of your car?
Your P60 is actually your golden ticket to a tax refund, so don’t just file it! Use your golden ticket to unlock your potential tax refunds going back as far as 2011.
Generally, you’ll receive your P60 sometime in January, but employers have until 15th February to provide you with your P60. So don’t panic if
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Written by Administrator on January 7, 2015
So, 2015 is finally upon us and it seems like a lifetime ago that Budget 2015 was announced. But, it’s from now on that you’ll notice many of the changes that were introduced – what were they again?
Never fear! Here we’ll go through all the changes that you should notice on your first payslip for the new year.
Reduction in Income Tax
There were some welcome changes to the Income Tax rates with an increase in the threshold for the marginal rate
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Written by Administrator on November 26, 2014
There’s a lot of benefits to holding a full Medical Card – free GP care, prescriptions and other health services – but there’s also a less well-known advantage which can come in the form of a tax refund.
When it comes to Medical Cards, there’s two key tax refunds we look for and those are – Income Levy and Universal Social Charge.
Income Levy Refunds
In the 2009 Budget, the Income Levy was introduced with rates of 1%, 2% and 3%. And, it
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Written by Administrator on November 18, 2014
I hear so many people saying they are following gluten-free diets these days – all claiming they need to for a variety of different reasons.
In reality, many of these same people don’t ‘need’ to adopt a gluten-free diet, it’s a matter of choice – however, there are people who are medically-diagnosed as coeliacs and therefore, must adopt a gluten-free diet.
It’s for this group of people that I thought I’d highlight a tax relief that isn’t so well known and means
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Written by Administrator on November 11, 2014
We’ve all heard those ads….you know the ones. The ones that shout their limited sale offer and finish with ‘but when they’re gone, they’re gone!’. Funnily enough, most of these offers are never actually ‘gone’ – but sadly, the same does not apply to unclaimed tax credits which expire after 4 years.
The recent budget gave a little extra back to PAYE workers for the coming tax year, but that doesn’t mean that you should forget about the austerity years when
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