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

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Small gift exemption

Small gift exemption

Small gift exemption There is an exemption for gifts (but not inheritances) of up to €3,000 taken by a person from any person in a calendar year. Any gifts within this limit are not taken into account in computing tax and are not included in any future aggregation. Where a gift exceeds this limit only…

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Tax relief for changes at work

Tax relief for changes at work

Lump sum payments paid as compensation for change in working practices You may be entitled to a lump sum payment as compensation for changing duties. These payments are included as pay and are taxed normally. There are many reasons why compensation payments are made. Examples of these are: where working practices change such as the…

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Exemption from Income tax

Exemption from Income tax

Exemption Limits If you are not married or in a civil partnership, you are exempt from income tax where: your total income is less than the exemption limit you are 65 or older. If you are married or in a civil partnership and jointly assessed, you are exempt from income tax where: your total income…

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