Tuesday, January 31, 2012
As far as a ‘system of taxation’ goes, we think that less income tax is a great idea, that instead site valuations and local costs or spending should be borne by the locality and paid to the local authority. That means that the Household Charge – while regressive – is the right type of tax being levied in the wrong way.
Also filed in Accountancy, Advisors.ie In the Press, Property, property tax, Property tax, Taxation, Wealth
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Tagged . rte frontline, household charge, nppr, pat kenny, property tax, site value tax, water charges
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Tuesday, November 15, 2011
The normal cut off date for tax returns is the 31st of October unless you do the return electronically via Revenue Online Service (ROS) in which case it is today. However (and we never found out why) Revenue have recently determined that the 16th of November will instead be the final date. This means that anybody who has non-PAYE income to declare for 2010 still has a little time left to make the return on time.
If you don’t you’ll face a 5% surcharge on the tax bill up to December after which the surcharge rises to 10%. If you get the surcharge it means your rate of tax effectively rises by 10% (not absolute, but relative ie: 20% goes to 22%, 41% goes to 45%)
Also filed in ACCA, Accountancy, Accountant, Taxation
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Tagged accountant dublin, do a tax return, financial audit, pay less tax, paying taxes, revenue online service, ros, tax audit, tax deadline, tax return 2010, tax return 2011, tax return deadline, taxation
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The headline this week is from the famous quote that ‘the only sure things in life are death and taxes’. We have looked at death in the past from the perspective of Life Assurance, this week it’s about taxes – and more importantly, what to do if you can’t pay them or if you are not sure about your taxes. The good news is that the Revenue Commissioners in Ireland are a fairly effective bunch and the people there are well briefed and effective (this is no surprise as their duty is to make sure everybody pays up!). Revenue are well aware of the state of the economy, and that business
Also filed in Accountancy, Advisors.ie In the Press, Deposit Interest Retention Tax, Financial Advice, News of the World, Taxation
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Tagged 2003 taxes consolidation act, deposit interest retention tax, DIRT, paye tax returns, revenue commissioners, tax deadline, tax questions, tax returns, taxation, taxation issues
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Monday, February 21, 2011
We were pleased to get a mention in the Sunday Times article by Kathy Foley called ‘buy to fret’. You can find her on Twitter too! We don’t often find such a candid quote as the last part of the mention we got! “The banks are all saying investors have to be first to give up the ghost,” said Karl Deeter, of Irish Mortgage Brokers. “They will lean heavily on them and get a judgment because they didn’t do what the bigger people do and isolate the loan, buying the property through a limited company. “Nobody feels any sympathy for them.
Also filed in Accountancy, Advisors.ie In the Press, Banking, Financial Advice, Investment, property tax, Property tax, Section 23, Taxation
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Tagged accountancy dublin, advisors.ie accountants, buy to let problems, can't pay mortgage, city centre accountants, mortgage problems, sunday times buy to fret
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Wednesday, January 26, 2011
Today we heard that there were a number of concessions made in the passing of the Finance Act to committee stage, and one of them was to be the year end being kept the same – 31st of October rather than bringing it forward to the end of September.
This week we covered the changes to income tax that were brought about by the upcoming Finance Act 2011, primarily the people affected are in the lower end of the earnings spectrum – we have a table to show the changes that it makes. The good news is that we also gave News of the World readers a way to strike back: Tax returns! 70% of workers are actually due tax back at the end of the year and yet only 5% of them make a tax return to claim back that money. Information and instructions are in the article.
