New rates – Mileage & Travel Expenses

Posted Posted in Contractors, Personal Tax & Finance, Tax Tips & Explainers

Changes to Mileage & Subsistence (Domestic & Foreign) Rates – Effective 1 April 2017 The Department of Public Expenditure & Reform has recently announced changes to Civil Service mileage and subsistence rates. This has an effect beyond the Civil Service however as these rates can be used by non-public sector employers and are commonly used…Read More

How does Budget 2017 impact Individuals?

Posted Posted in Contractors, Freelancers, Landlords, Personal Tax & Finance, Tax Tips & Explainers

“High marginal tax rates act as a brake on employment. They discourage people from taking jobs and discourage emigrants from returning home. As you all know, I have limited resources to change the situation in this Budget but it is important to continue the process I started in Budget 2015”. Michael Noonan, Minister for Finance,…Read More

Want to know how Company Directors and Employees can earn €500 Tax Free?

Posted Posted in Contractors, Personal Tax & Finance, Tax Tips & Explainers

Would you like a €500 tax free payment from your limited company? No, it’s not a trick question. The good news is that you are entitled to take one each and every year. So how exactly? Under the Small Benefits Exemption Scheme, company directors and employees can receive a non-cash bonus of up to €500…Read More

Want to know how to earn €12,000 Tax Free by renting a room in your home?

Want to know how to earn €12,000 Tax Free by renting a room in your home?

Posted Posted in Landlords, Personal Tax & Finance, Tax Tips & Explainers

Tax free income is not too common. But if you’re renting a room or rooms in your home, you may be entitled to “Rent A Room Relief” and earn up to €12,000 tax free. Here’s 11 Things You Need To Know! The €12,000 limit includes any amounts you receive for utilities, food, laundry and other…Read More

Claiming Flat Rate Expenses – Extra Tax Relief based on your Occupation!

Posted Posted in Contractors, Freelancers, Personal Tax & Finance, Tax Tips & Explainers

Tax relief on business expenses are not just for the self-employed. If you are a PAYE employee you may be entitled to tax relief based on your occupation by claiming Flat Rate Expenses. Flat rate allowances are a type of tax relief available for expenses incurred in the performance of your duties of employment. Many…Read More

Increase in tax free bonuses under the small benefit exemption scheme

Posted Leave a commentPosted in Contractors, Personal Tax & Finance, Tax Tips & Explainers

The publication of the Finance Bill last week brought a few new measures which had not been announced in the Budget speech. One of those particularly welcomed by contractors and small business owners is the increase of the Small Benefits Exemption, from an annual amount of €250 to €500 with effect from 1 January 2016….Read More