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What Revenue doesn’t want you to know about underpayments

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

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Cut the endless paperwork out of your tax rebate

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

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What to do if you receive a Form 12

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

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Free Dental Check-Up with PRSI

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

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The Price of Single-dom

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

OK,

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5 Things to Know Before Applying for the Home Renovation Incentive

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

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Home Renovation Incentive – Revenue’s Response

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

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Home Renovation Incentive Scheme 2014 Commentary

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

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