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What is NAMA? The National Asset Management Agency is a key part of the solution to the current banking difficulties in Ireland. The Government examined all of the potential approaches available to it to deal with the riskiest loan portfolios on the balance sheets of Irish banks. These loans were preventing banks from lending into…
The scrappage scheme provides for VRT relief when a new passenger car with CO2 emissions of not more than 140g/km (i.e. CO2 band A or B) is purchased and registered and another passenger car, over ten years old is scrapped. The scheme will run from 1 January 2010 to 31 December 2010. The VRT relief…
Introduction Generally speaking, all payments made by employers to employees and directors are regarded as “Pay” for tax purposes. Employers must operate PAYE on such payments unless they are exempt from tax or the Revenue Commissioners gives other instructions. Lump sum payments on a redundancy or a retirement, however, qualify for special tax treatment –…
When faced with difficulties servicing personal debts, legislation in Ireland leaves few options other than budgeting, prioritising and preparing for the long slog. ‘‘The laws in the Republic are quite frankly draconian,” said Karen Stewart, manager of National Debt Relief Ireland. ‘‘It costs as little as £485 in Britain to declare yourself bankrupt, whereas in…
As newspapers worldwide grapple with the challenge of making their content work on mobile phones, the Guardian newspaper is celebrating the successful launch of a paid-for iPhone app. Introduced in mid-December, the stg£2.39 app has been downloaded more than 100,000 times. Unlike the Irish Independent’s €2.39 app, which offers only limited content, the Guardian’s app…
Self-Assessment gives you greater control and responsibility over your tax affairs. It applies for Income Tax purposes to: Self-employed people (i.e. people carrying on their own business including farming, professions or vocations) People receiving income from sources where some or all of the tax cannot be collected under the PAYE system, for example: profits from…
If you are self employed and have your own company, here are the rates you should be using to claim for things like travel, meals, and overnights. It is far better from a tax point of view to use these rates, than actual receipts a sole trader would o use in his calculation of business…
http://www.revenue.ie/en/tax/vrt/scrappage-scheme.html
Those who are affected by the non-principal private residence tax should not rely on an extension for payment this year. The liability deadline for the recently introduced non-principal private residence (NPPR) tax falls in ten days’ time – much earlier than it did last year. The NPPR, or second homes tax, was introduced in late…
If you are self employed (or PAYE), and you are thinking of taking out an income protection policy, there are a few things you will need to know before you go signing any contracts with a financial advisor. Income Protection (I.P.) is like an insurance policy which means if you are unable to work due…
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