by Eimear Larrissey, Tax Team Contracting PLUS What are Tax Credits In simple terms, Tax Credits reduce the amount of tax you pay. Everyone is entitled to Personal Tax Credits – the annual credit for a standard individual is currently €1,650. If you’re self-employed (in receipt of trading and professional income) or a proprietary director,…
Here is a reminder on Capital Gains Tax (CGT) payment and filing dates By Eva Byrne, Tax Manager, Contracting PLUS Ok, so here is my confession about shares. I am old enough to remember getting caught up in the Eircom shares hype back in 1999. It was heavily promoted by the Government of the day…
This guide walks you through the steps you need to take if you would like to to set up your own limited company in Ireland. There is an easier way, skip to the last paragraph to see how to make it simple. What you’ll need To set up a Limited Company in Ireland you’ll need…
Contracting is becoming a serious career choice for many. It offers flexibility, work/life balance, an opportunity for the over-55’s to extend their career and generally it’s well paid. But while the range of people considering contracting has expanded recently, in reality it’s been growing in popularity for around 15 years. So what exactly is it,…
As a contractor, there are many relocation expenses you can offset against your income to assist and support you in making the move. Uprooting yourself from your existing life and starting a brand new one in a new country is a really big deal. Even for those relocating as a contractor within Ireland, a grand…
Income Protection Cover for Contractors When PAYE workers become contractors they typically worry most about what would happen to their income in the event of their absence from work due to illness or injury. While Contractors typically earn a reasonably good income, most, if not all of your monthly earnings are required to cover everything…
The Irish Accountancy Awards measure the best elements of Accountancy Practices the length and breadth of the country. Contracting PLUS, a specialist Accountancy and Tax firm for Professional Contractors and solo-self employed business consultants, were shortlisted in four categories for the 2020 Awards; WINNER – Best Use of Technology (which looked at the cloud based…
By Richard Marshall – Associate Director Tax at Contracting PLUS Gift and Inheritances Irish gift or inheritance tax is known as Capital Acquisitions Tax [CAT] and is primarily payable by the person receiving the gift/inheritance. When do I need to pay CAT? CAT is payable if a gift/inheritance is valued over a certain limit and…
by Jennifer Doyle, Solutions Team Manager at Contracting PLUS The year 2020 has brought with it a lot of changes. For many, a significant change is that working from home full time has become the new norm, and it looks like it will remain that way for some time yet. Given this, it’s no real…
This isn’t an instant fix and will take a little bit of legwork on your part but it’s well worth doing as it could mean anywhere from €15,000 to more than €125,000 in free money in your retirement years. The Old Age Pension The State Pension (Contributory) more commonly referred to as the ‘Old Age…
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