Budget 2013 Updates

Excise Duty

NOT increasing duty on petrol or diesel.

Hikes on alcohol: Beer/ cider – 10c; spirits – 10c extra per litre

AND ON WINE, €1 increase on 75cl bottle

10 cents on 20 cigarettes

50 cents on 25 grams packs of loose tobacco

TAX SAVING TIPS

Most commonly overlooked Tax Credit claims are:

– medical expenses at 20% tax relief

– rent relief 20% subject to limits

– home carers credit

– flat rate expenses for certain employments

– Tuition Fees (subject to restrictions)

– Medical insurance premiums, if paid by employer.

N.B. There is a four year time limit in which to make your claim.

TAX FILING DIARY MARCH 2012

TAX FILING DIARY MARCH 2012

14th  (23rd by ROS)

P30 – Feb 12     (Employers)

F30 – Feb 12  (Professional Services Withholding Tax)

DWT – Feb 12 (Dividend Withholding Tax – Companies)

 

19th  (23rd by ROS)

VAT 3 – Jan-Feb 12

Annual VAT3 & RTD Year Ended 29/2/12

 

21st (23rd by ROS)

Annual CT1 & Payment –Year Ended 30/6/11 – Corporation Tax

Form 46G –  Year Ended 30/6/11 – Corporation Tax

Preliminary Tax – Yr Ends 30/6/12 – Corporation Tax

Preliminary Tax First Instalment (large Companies) –Yr Ends 30/9/12Corporation Tax

 

Eric Power FCCA, Eric Power Accountants.  Email ericpower.fcca@gmail.com

Disclaimer: This is a calender of the main tax compliance deadlines but is not intended to be an exhaustive list.  While every effort is made to insure the accuracy of the information, we do not accept any responsibility for loss or damage suffered by any person acting, or refraining from acting as a result of this material.

PAYE TAX REFUNDS

Do you pay tax in Ireland through your work, (the PAYE system), in Ireland?

If so you maybe paying too much tax?

About 40% of all workers are without even knowing it!!

You need to act now – We can review up to 4 years for you (Time barred for older returns).                                  

Contact us for a fully confidential consultation on 051 347 363.  

Our Fee is charged at 10% of refund plus handling fee.

If any of the below applies to you then you maybe entitled to a refund:-

1.  Change in circumstances (e.g.  One spouse goes on short-time or loses Job)?

2.  Had Medical or Non-Routine Dental expenses?

3.  Medical Insurance paid by your employer as a Benefit?

4.  Entitled to child related credits (e.g. Home carers or single parent credit)?

5.  Paying Rent for you family home?

6.  Had expenses in your employment NOT refunded by your employer?

7.  Paid Bin Charges?

8.  Paid Trade Union subscription?

9.  Employing a home carer for an Incapaciated Person?

What Documents are required?

You will need your P60s and Income Levy certificates, all medical expense receipts, Bin charges receipts etc.

We are a registered Tax Agent with the Irish Revenue Commissioners 

TAX FILING DIARY FEBRUARY 2012

TAX FILING DIARY FEBRUARY 2012

14th Feb (23rd Feb by ROS)

P30 – Jan 12     (Employers)

F30 – Jan 12  (Professional Services Withholding Tax)

DWT – Jan 12 (Dividend Withholding Tax – Companies)

15th Feb (23rd Feb by ROS)

Annual P35 – 2011  (Employers)

Annual F35 – 2011  (Professional Services Withholding Tax)

Annual RCT35 2011 (Relevant Contractors Tax – Principal Contractors)

19th Feb (23rd Feb by ROS)

Annual VAT3 & RTD Year Ended 31/1/12

21st Feb (23rd Feb by ROS)

Annual CT1 & Payment –Year Ended 31/5/11 – Corporation Tax

Form 46G –  Year Ended 31/5/11 – Corporation Tax

Preliminary Tax – Yr Ends 31/3/12 – Corporation Tax

Preliminary Tax First Instalment (large Companies) –Yr Ends 31/8/12Corporation Tax

Eric Power FCCA, Eric Power Accountants.  Email ericpower.fcca@gmail.com

Disclaimer: This is a calender of the main tax compliance deadlines but is not intended to be an exhaustive list.  While every effort is made to insure the accuracy of the information, we do not accept any responsibility for loss or damage suffered by any person acting, or refraining from acting as a result of this material.

P35 Return Filing – Importance of Recording the Correct PPS Number for Employees

                

When filing the P35 Return for 2011, employers and agents are reminded of the importance of recording the correct PPS number for each employee on the return. This will ensure that an employee’s details are updated correctly to the Revenue and Department of Social Protection (DSP) computer systems with the minimum of delay. The PPS number should match the PPS number on the most recent Tax Credit Certificate issued by Revenue to the employer. 

If, as an employer, you have an employee in respect of whom you have a PPS number but have not received a Tax Credits Certificate from Revenue, this indicates that the person concerned has not been registered with Revenue for this particular employment. Before this person’s pay, tax and PRSI details are filed with Revenue on the P35, you should immediately advise the appropriate Revenue District of the person’s name, address and PPS Number so that we can register the employee as employed with you and issue a Tax Credits Certificate.

When you have a Tax Credits Certificate for that employee, you can then include that person’s pay, tax and PRSI details on the P35 return. If you have filed the P35 return already (without that person’s details), then you need to file a supplementary P35 for that employee.

If you have enquiries on any aspect of the P35 Return filing, please contact the P35 Helpline on 1890 25456