Inheritance and Gift Tax (CAT) for Farmers – An Increasing Liability?
Farmers should be mindful that Capital Acquisitions Tax (CAT) thresholds have been reduced significantly over recent years and that the tax rates have been increased. A growing number of people are going to find themselves liable to tax charged on gifts and inheritances. Over the last three years, tax free thresholds for gifts and inheritances have […]
Removing Directors from Office
Did you watch Mad Men the other night? Poor Lane, one of the Partners in the fictional advertising firm Sterling Cooper Draper Pryce got into a spot of financial difficulty with the Inland Revenue. To surmount this he awarded himself an “eleven day loan”. Unfortunately, to avail of his own short term financing model he […]
Payment Protection Insurance Scandal
Ok, so we know the banks have missold Payment Protection Insurance to countless people who were more or less told in some cases that they wouldn’t get the loan unless they signed up to this product. In other cases, we know that there was no way ever that the bank was going to pay out […]
Household Charge as discussed with Victor Barry on RedFM on the 5/11/2012
The reality here is that the Household Charge will catch up with you one way or the other if there hasnt been a Revolution in the meantime that is! When you go to sell your House your solicitor will have to provide a receipt that it has been paid. The Local Councils have the power […]
Employment Law Handbooks
An Employment Law Handbook sets out the policies and procedures for a company in the event of a dispute between an Employer and an Employee. They are a useful tool for a company when defending a claim against them. Conversely an Employee should make themselves aware of the company’s Employment policies and not just blithely […]
Tax Reclaim on Expenses and Losses
Please note that the time limit for reclaiming tax is four years if you pay Income tax or are self employed. For example a medical expense claim for repayment of tax for the year 2008 must be lodged with the Revenue Commissioners by the end of this year to avail of the relief. However the […]
The New Property Tax
So as expected the household charge is to be replaced by the New Property Tax in 2013. Anyone who hasn’t paid the household charge will now find themselves being subject to Revenue powers. The household charge was the forerunner of the Property Tax and was used to get people’s property details together. The basis of […]
Debt Forgiveness and the Insolvency Bill
It is reported in todays Irish times that AIB has said that it will step up its pace of mortgage write-offs in 2013 by offering customers who are working with the bank the chance to have some of the debt forgiven. We advise all our clients to keep lines of communication open with both their […]
Film Tax Relief
The Film Tax relief under Section 481 will be extended to 2020 but from 2016 it will change to a tax credit model it was announced in the recent budget. It would seem that the cost of the film tax relief is costing the government more than if they gave the money directly to the […]
New Property Tax
Bad news for anyone who thought they might be able to dodge the new property tax is outlined in Section 118 of the new legislation which gives the Taxman power to deduct the property tax from any State payments the property owner might receive. So if you are in receipt of rental income from anyone […]
