35 Wolfe Tone St Sligo info@mcdowellaccountants.ie 071 91 69647
Pricing for sole traders Self-Employment brings many rewards, but twice as many challenges I have found over the years. One of them is Pricing – trying to find the balance between being competitive and making a profit! The price you charge a potential long-term customer cannot change radically from year to year, so you need…
COVID-19 Information and advice for taxpayers and agents Overview Temporary COVID-19 Wage Subsidy Scheme Revenue services Compliance with certain reporting and filing obligations and the satisfaction of certain other tax related conditions Corporation Tax and presence in the State or outside the State resulting from COVID-related travel restrictions Relief from Excise Duty (Alcohol Products Tax)…
Revenue announce measures to assist SMEs experiencing cashflow difficulties arising from COVID-19 Today (13/03/2020), having regard to the measures announced yesterday by An Taoiseach to interrupt the transmission of COVID-19, Revenue outlined some key advice and actions taken to assist small and medium enterprise (SME)* businesses experiencing cashflow and trading difficulties arising from the impacts…
Regional 1890 Business Taxes Phone Numbers In recent months, Revenue introduced Regional 1890 numbers to provide a single point of contact in each Region for agents and customers to direct their Business Taxes queries. The Business Taxes 1890 service is available from 9:30 am to 4:00 pm, Monday to Friday, and the numbers are as…
Revenue have published a guide outlining the tax reliefs, deductions and exemptions that contribute towards the creation of jobs. There are a number of schemes available: The Start Your Own Business scheme provides for relief from Income Tax for long term unemployed individuals who start a new business. The scheme will provide an exemption…
Taxation of Paternity Benefit Statutory paternity leave of 2 weeks together with a new Paternity Benefit has been introduced in respect of births and adoptions on or after 1 September 2016. Paternity Benefit (including any increases for adults and child dependents), payable by the Department of Social Protection (DSP) is liable to tax. USC and…
If you have other income which is not being taxed (farming grants, rental income, bank interest, dividends etc.) this article may be of interest to you. In summary income earned above €3,174 must be filed through the self-assessment system. Below this and it must be filed through the Form 12 process. A chargeable person must…
Qualifying Lessor For periods up to 31 December 2014 an individual aged 40 years or over, or an individual who is permanently incapacitated by mental or physical infirmity from carrying on a trade of farming, may be entitled to an exemption from income tax of certain income arising from leasing of farm land. With effect…
Guide as published by the Revenue Commissioners http://www.revenue.ie/en/practitioner/ebrief/2016/no-272016.html
Most people only dream of setting up their own business and for many it never does become a reality. Don’t be deterred. With the right information and advice, it can be done. However, one decision that must be made at a very early stage is the legal framework within which you will want to…
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