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

Small gift exemption

Small gift exemption

Small gift exemption / Use of Bare Trusts Small gifts of up to €3,000 per year can be gifted to family members each per year without gift tax being paid and without affecting the lifetime exemption thresholds of the beneficiary. Bare trusts are very often used by grandparents (or godparents, uncles, aunts etc) who want…

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What is separate assessment ?

What is separate assessment ?

What is separate assessment ? If you are separately assessed, you and your spouse or civil partner are taxed as single people during the year. The following tax credits, if you are claiming them, are divided equally between you: Married or Civil Partner’s Tax Credit Age Tax Credit Blind Tax Credit Incapacitated Child Tax Credit.…

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E-working calculation

E-working calculation

Sample E-working calculation from Revenue The example below outlines the approach for employees claiming relief for allowable e-working expenses, i.e. expenses that are incurred wholly, exclusively and necessarily in the performance of the duties of their employment. Eve works 180 days in total during the year, and 90 of these days are from home. The…

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