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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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
In
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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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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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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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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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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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Written by John O' Connor on March 21, 2014
Fix those Windows! Many PAYE Taxpayers will use the Home Renovation Incentive scheme to help pay for necessary updates to their homes.
Guide to Home Renovation Incentive Scheme 2014
With the beginning of Spring and the weather improving you may be thinking of carrying out some home improvements? If so why not avail of some tax relief under the new Home Renovation Incentive Scheme.
The Home Renovation Incentive (HRI) Scheme was introduced in Budget 2014 and will run from 25th October 2013 to
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Written by John O' Connor on October 18, 2013
Single Parent Tax Credit Laid Bare
Not many tax changes in Budget 2014 – for most of us our payslips in January 2014 will be the same as they were in December 2013.
But a big change has been implemented to the Single Parent Tax Credit. Let’s remind ourselves of the status quo for single parents and how that will change.
Are you Eligible? The Story 2009 – 2013
In Brief: The One Parent (or Single Parent) Tax Credit is available if you are
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Written by John O' Connor on October 8, 2013
Is the Budget early this year?
Yes! The Budget is much earlier this year. Usually we are picking our way through the last of our Christmas shopping when the Budget news is delivered – last year on the 9th December.
And early December is very late to be deciding on your Budget for the year starting just 20 odd days later – as you can imagine it is mayhem in payroll companies and in Revenue trying to get things set up for
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