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Accounts board - Oliver Niland Chartered Accountant & Tax Specialist Galway Ireland

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Tax Returns - Oliver Niland Chartered Accountant & Tax Specialist - Galway Ireland

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Starting a new business - Start your own business - Oliver Niland Chartered Accountant  & Tax Specialist Galway Ireland

Covenants that qualify for tax relief

Covenants that qualify for tax relief

Covenants that qualify for relief

Covenants to certain individuals qualify for tax relief. You can claim relief on covenants to:

  1. One or more adults aged 65 or over. The relief you receive is restricted to 5% of your total income.
  2. Permanently incapacitated minors. A minor is a person under 18 years of age who is not married or in a civil partnership. You cannot claim tax relief on covenant payments you make to your own incapacitated child.
  3. Permanently incapacitated adults.

A Deed of Covenant must last for more than six years to qualify for tax relief. We recommend that you make a covenant that lasts for a minimum of seven years.

Subject to qualifying conditions

Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie

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