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What will the VRT changes mean? Everybody is talking about the changes in VehicleRegistration Tax (VRT) that are coming in July, but there seems to be significant confusion about whether car prices will rise or fall. We take a look at the changes. The changes in the VRT rates for new cars and cars imported…
Details of the new rules for Principal Contractors and Sub-contractors were contained in Revenue eBrief No.26/08.A letter and a summary leaflet outlining the new VAT rules are due to issue shortly to all principal contractors and subcontractors. The content of the letter will depend on the category of the contractor. Visit the Revenue…
If you’ve been reading the newspapers lately you will have seen that the Revenue Commissioners are now focusing attention on undeclared deposit accounts. The Revenue have made it compulsary for banks, building societies, credit unions etc to make automatic returns to them on deposits they hold for customers. What the Revenue is really going after is monies held in…
Employing a good accountant is the first and most obvious move to make when trying to keep your tax bill down. Complementing this is for you yourself to invest a bit of time into learning the tax system and becoming aware of the various schemes out there to help you learn the tax system. This…
Tax relief for personal pension contributions is limited to 15-40% (depending on age) of relevant income up to €262,382 (for the 2007 tax year) as adjusted for inflation annually. You may qualify for tax relief in respect of donations made to charities and other approved bodies such ad educational institutions. Tax relief is granted to…
Renting out a property can have some tax issues which you need to be aware of. If its a property you bought and are getting mortgage interest relief on, you will loose this relief. However the interest you are paying is a taxable expense, and can be offset against any rental income you get on…
Welcome to McDowell & Co. Our blog is here to help you to reduce your tax bill and save you money. You may be a PAYE worker, a sole trader, a farmer, a small company etc. You may have issues relating to the amount of tax you pay, to the accounting system you use, you…
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