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Tag Archive for Frances Brennan

Ireland Tax: Home Renovation Tax Relief Explained

Home Renovation

If you carry out repairs, renovations or improvement works to your own home, tax relief is available by way of an income tax credit at 13.5%.

The work must be on your own home. Holiday homes or rented residential property do not qualify. New builds and complete reconstruction of a previously uninhabitable house do not qualify. Read more

All Irish Tax Residents Working Abroad Must Factor In ‘Withholding Tax’ On Their Winnings

When following the Masters in Augusta it occurred to us that golfers & musicians both share ‘common ground’.

All Irish tax residents working abroad must factor in ‘withholding tax’ on their winnings or live performance in most countries. Withholding tax is deducted at source from any payment to a non-resident individual.

Artistes & Athletes are twinned together in the Double Taxation Treaties and Ireland has these agreements with 74 other countries. The Treaty covers Income Tax, USC, Corporation Tax & Capital Gains Tax. Read more

Ireland Tax: Local Property Tax Information You Need To Know

This annual charge was introduced back in 2013 and it is relevant to you if you own a residential property in the Republic of Ireland, have a long-term lease over 20 years, or a life interest in the property for more than 20 years.

This is a self-assessment taxso you calculate the tax based on your own assessment of the market value of the property. You pay every year based on the valuation on 1 May 2013.

Market value bands determine the amount payable. The rates introduced in 2013 still apply and will continue until 1 November 2019 – but some Local Authorities have made adjustments downwards depending on your location. Read more

Ireland Tax: Should I Form A Company Or Be Self-Employed?

We all know that dealing with your tax affairs is a headache at the best of times. Three recurring questions I continually get asked are:

Do I qualify for the artist’s exemption? Should I form a company or be self-employed? Have I to register for VAT?

Artist’s Exemption

Did you know that your work may qualify for the artist’s exemption up to €50,000 per year?  This gives you as a writer an incentive to be more pro-active in dealing with your tax affairs. Read more

Ireland Tax: Separation, Divorce, And Your Tax Position

During a turbulent time of marital separation, you need a few simple steps to make life easier and update your tax position.

Pick A Date – sounds easy, but sometimes not that clear to know the exact date of separation. You need to have a date so that when you contact Revenue to let them know, you have the date ready. There is no form just for this, so just call your local tax office and tell them over the phone giving your PPS number, or drop them a line if that is easier for you. (You will show the change of marital status on your next tax return) Read more

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