18
Oct
Oct
Please find our Budget 2020 summary attached below. TAB Budget 2020 Summary
13
Sep
Sep
Individuals who both pay and file their tax returns through the Revenue On-line Service (ROS) have until Tuesday 14th November 2017 to pay a pension contribution and elect to backdate the income tax relief against the 2016 tax year. Those who do not qualify for the ROS extension must do this by 31st October 2017. […]
24
Jul
Jul
The use of life assurance protection policies to fund Inheritance Tax with the benefit of Section 72 relief is well known. However, the potential to use a life assurance savings plan to fund Gift Tax with the benefit of Section 73 relief is less well known or used. It can be a useful option, particularly […]
There are two different State Pensions systems, namely the Social Insurance system and the Social Assistance system. The Social Insurance system provides pension benefits based on an individual’s PRSI record over their lifetime whereas the Social Assistance system provides means tested pension benefits. Herein we are going to look at the State Pension (Contributory) which […]
27
Apr
Apr
The Offshore disclosure deadline has been extended until next Thursday 4th May at 5:30 p.m. The Revenue Commissioners issued a press release today to announce the extension to the deadline and are encouraging anyone affected to avail of this extension to a full disclosure of their offshore interests. If you have any queries with regards to […]
26
Apr
Apr
Professional sportspeople may a have relatively short working life (as sportspeople) but with high earnings. The pensions system recognizes the special characteristics of such individuals. Taxable earnings Professional sports people resident in the State will likely be taxable on their sport’s earnings either under Schedule D (as a profession) or Schedule E (as an employee), […]
29
Mar
Mar
Revenue letter to taxpayers on offshore assets Revenue has recently written to thousands of self – assessed tax payers who filed income tax returns for 2015 to invite them to review their tax affairs and consider whether they need to make a disclosure to Revenue and pay over any underpaid tax, interest and penalties. They […]
Non Principal Private Residence (NPPR) charge In light of the recent High Court decision which held that the Non Principal Private Residence charge (NPPR), which was payable from 2009 to 2013, was a deductible rental expense, the Revenue have launched an appeal to the Court of Appeal. Until that appeal is decided Revenue is not […]
22
Mar
Mar
Finance Bill 2016: Changes to Personal Retirement Savings Accounts (PRSAs) and Retirement Annuity Contracts (RACs) held past the age of 75 The Finance Bill 2016 introduced changes in the way PRSAs and RACs (i.e. Personal Pension Plans) will be treated where a person passes, or has already passed their 75th birthday. Unvested PRSAs and RACs […]
Capital Acquisitions Tax changes in Finance Act 2016 – what do they mean for you? The 2016 Finance Act was passed into law on Christmas Day. The three tax-free thresholds that apply to gifts and inheritances were increased in the last Budget and are enacted in Section 53 of the Act. The increased thresholds apply […]