Tax returns UGH!

Nobody likes making a tax return, but we all most do it. And your average Irish Citizen is no different except that they hate it even more than the rest of the world! Fear not we are here to help....call us no or send us your information now so that we will have it ready ahead of the deadline and filed in time.

Also we might save you some tax...Irish tax that is.

The deadline is 31st October 2006 for 2005 income and capital gains tax returns.
Company deadlines are set 8 months and 21 days after the company's year end.

Mr Cowen is tighten the belt; apart from the usual changes, tax on stallion and greyhound stud fees, high earners can only use reliefs to a maximum 50% of their income in order to shelter it from tax.... New 100% releif for donations to the new Heritage Trust, new childminding relief.....oh yes the remittance basis for calcilating tax is gone for 2006. Also limitations on the amoutn high earners can use to fund their pensions ....check out www.fixmytax.com for more. For details of the Budget 2006 and calculations click http://www.fixmytax.com/141.html

Fund your pension before 17th November

Hurry, you still have time to save Irish income tax for 2004 if you pay a lump sum, subject to statutory limits, into your pension account before the 17th November provided that you are filing your Income Tax 2004 return on line using the ROS-Revenue On Line System.

ROS - File On Line before 17th November 2005

The Irish Tax Return filing deadline for filing on line is looming 17th November 2005. This is the last day for filing:
- Income Tax Return 2004
- Capital Gains Tax Return 2004
- Paying the balance of your Income Tax 2004
- Paying the your Preliminary Income Tax 2005
- Paying your Preliminary Capital Gains Tax 2005 (initial period ending 30th September 2005).

Individualisation has not gone away!

Did you know that, despite all the hubbub, the individualisation plan commenced by Charlie McCreevy the former Irish Minister for Finance and now European Commissioner is still with us even though it never developed beyond the original first stage.
Individualisation treats single income families less favourably than two income families. Indeed to remove the effect of individualisation the second spouse must earn over €20,000 in order to use up the full €58,800 standard rate cut off (20% band) for tax purposes.
Where it is possible the earning spouse should arrange for the non earning spouse to go on a payroll at a salary over €20,000.
If this is not an option then one should claim the home carer's allowance which was designed to give some redress the stay at home spouse.