Written by Administrator on July 22, 2014
It’s becoming more and more common these days for people to receive notice from Revenue that they have an underpayment and owe Revenue extra tax money. This prompts endless questions…
What does that mean?
How did this happen?
Doesn’t my employer look after this?
How am I going to pay them back?
…none of which are answered by Revenue and so, through fear and frustration, many people start paying back their unpaid taxes.
Stop right there!
Before you pay any additional money to Revenue, you should always
Written by Administrator on July 16, 2014
When you think tax return, you think mountains of paperwork…right? Wrong! Here at Red Oak we are constantly looking for ways to make the whole tax refund process simpler and we think we’ve nailed it with our new 1-page Fast Track Application Form.
Our new Fast Track Application Form captures all the essential information needed to kick start your tax refund. This means no more reading through endless questions that don’t apply to you and no more complicated explanations of what
Written by Administrator on June 13, 2014
You may not be crossing the paths of any black cats today, but if you are attempting your tax return, you could be making some mistakes that will provide more bad luck than walking under a ladder!
So, to celebrate Black Friday, I thought I’d put together a list of the 13 unlucky mistakes that you could make by attempting to do your own tax return.
1. Assuming the Information that Revenue has for you is correct
This is the most common mistake!
Written by Administrator on June 4, 2014
Revenue have announced that they will be writing to 40,000 PAYE taxpayers requesting them to complete a Form 12 to declare any additional income outside of their regular PAYE income. Whilst this is nothing new, it may be the first time many of you have even heard of a Form 12, let alone filled one out!
So, I thought I’d answer some of the commonly asked questions about Form 12’s to help guide you through the process.
Firstly, let’s start with the
Written by Administrator on May 26, 2014
Most people assume that their employer will sort out all their Income Tax, PRSI and Universal Social Charge (USC) for them as part of their payroll. But, errors can occur – and it’s these errors that we have noticed recently particularly affecting teachers.
Over the past couple of weeks, we’ve had a couple of cases involving teachers who now owe Revenue money as their USC was charged at the incorrect rate – here’s what happened.
Changes to Medical Card exemption for USC
Written by Administrator on May 16, 2014
Whoever said PRSI was just another stealth tax can eat their words! Er, well maybe not – but there is a hidden entitlement that most of us are unaware of and so, are missing out on a freebie from the government. And who doesn’t love a freebie?!
Image via thejournal.ie
Before you get all excited though, it’s probably the thing that we all dread most – a trip to the dentist! And, by paying PRSI you are actually entitled to a
Written by Administrator on May 13, 2014
I was reading an excellent article by Lorraine Courtney in the Irish Independent yesterday which talked about being penalised financially for being single. As a single person, this got me thinking about how we singles are being treated for tax purposes and what is actually available to us to minimise the blow from Revenue.
So, I had a little chat to our Tax team to see exactly what is out there for me and my fellow singletons!
It’s not just a Job
Written by Administrator on May 8, 2014
With the introduction of the new Home Renovation Incentive (HRI) Online System last month, some of the burden on the homeowner has been lifted. Last month, we reviewed the Home Renovation Incentive (HRI) and took a rather harsh view of the responsibilities imposed on the homeowner in order to claim the tax credit. Since then, the new HRI Online System has been launched and is meant to make the process a whole lot simpler. But, there’s still a few areas
Written by Administrator on April 28, 2014
Last month, we published an article on the Home Renovation Incentive Scheme which commented on some of the challenges the new scheme posed for tax payers. Since then, Revenue has released new positive developments in the scheme which aim to make the process simpler for homeowners. They got in touch with us last week to explain the key changes, as outlined in their response to our article below.
From our perspective, the main change is that the onus is no longer on the
Written by John O' Connor on March 21, 2014
The Home Renovation Incentive Scheme 2014
Many people who are upgrading their insulation will get extra benefit from the Home Renovation Incentive Scheme – but not as much as they may expect
Tax Credits just got more complicated.
Imagine if in order to claim a tax refund for Medical Expenses you had to prove your Doctor, Dentist and Pharmacist were tax compliant; check that they were registering your treatments within a time frame you could not control or else lose out on