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
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
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
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
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
Written by Administrator on November 5, 2014
It seems everyone in the office here at Red Oak has been giving their teeth some good old TLC recently. In the last month, many of us have gone for routine dental check-ups and 3 of us have started the process of getting braces.
Of course, we are all aware of the tax relief we can claim back for the cost of some of our treatments, but it got me thinking that many of you out there
Written by Administrator on October 29, 2014
From time to time, we get asked why people should choose Red Oak to get their taxes checked. Of course, there’s loads of different options out there – you can try a bit of DIY, engage the services of an accountant or look at the various companies offering services such as ourselves.
For some people, the challenge of navigating the tax system themselves is a thrill – but for others, it’s a complete nightmare. If you fall into the latter group, then
Written by Administrator on October 15, 2014
Many are saying yesterday’s budget heralds the end of austerity in Ireland as, surprisingly, we are once again one of Europe’s fastest growing economies. For the first time since the start of the recession, the Government opened the purse-strings and gave some much-needed relief to struggling taxpayers.
Finance Minister Michael Noonan told us we are now entering a “new phase” where the focus is now ”on reforming the income tax system in a manner that positively contributes
Written by Administrator on October 9, 2014
In our last look at proposed changes to the tax system before the budget next Tuesday, we’ll put the spotlight on the tax bands – ie. the income levels where the Government applies different rates of tax to your salary.
Tax Bands apply to Income Tax, USC and PRSI.
Marginal Income Tax Bands
At the moment, Ireland has one of the lowest entry points at which employees become subject to the higher rate of income
Written by Administrator on October 7, 2014
The rumour mill continues to turn in the lead-up to Budget 2015, and with less than a week to go till the day of truth, we decided to take a look at a tax-break option which has consistently been the dark horse in the Budget race.
Today we’ll examine what would happen if tax credits were increased, and evaluate the savings to you across a range of income levels.
As we have one of the most