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If posters require further information, I am more than willing to supply it. I failed to appreciate how the process of how I issue invoices and receive payments is relevant to the question at hand: " Is there any precedent for paying tax on trading profit calculated from income received in a...

There is nothing curious, I provide a professional service, a billing company will issue an invoice. The billing company gets paid. They withhold 20% tax and take a fee. They pay me the residual. At the end of the tax year, I pay the outstanding tax balance. I have recently employed an...

This is my first year making a substantial return. As I said, I am a PAYE worker and have a full-time job. You are correct- I do not have a background in accountancy or Tax affairs. Apologies for seeking advice on an open forum designed for people like me to ask these questions and learn as we...

@ Paul o Mahoney, I will keep my response amicable. This is not a wind-up and nowhere did I mention anything about profit. And thank you who have replied to provide advice. Just to re-cap: This is additional income, I am a PAYE worker. Therefore I will be paying tax at 40% on profit from all...

Thank you all for your replies. From my point of view, I can not afford to pay tax on money I have not received. Can I not just pay tax on the money that was paid to me in each year? These are non-cash payments and through a billing company with full traceability. There is no hidden cash/tax...

Apologies all. The figures I used above were to illustrate the example. The figures are well above €5,000 and are cash payments. Example: In 2020 I sent out invoices total €100,000 for work in 2020. I receive payments total €80,000 euro. This is made up of invoice payments from 2019=€30,000 +...

Thanks baby boomer. I do not understand. I declare additional non-paye income on-top paye income. Here is my scenario for tax calculation in 2020 with basic figures as an illustration. In 2020 I sent out invoices total €100 for work in 2020. I receive payments total €80 euro. This is made up...

Hi jpd, I am declaring additional income.

Dear askaboutmoney, I am completing my tax returns for 2020. I have a non-PAYE income stream. Through a billing company, my clients are billed. Each year there can be up to a 20% difference to the amount that is billed to the money that is received for that tax year. Some invoices remain unpaid...

Thank you very much Itchy for your response. On what grounds can we be refused? This is a histologically benign lesion as mentioned above. 1000's of patients have benign skin lesions remove weekly in the country. Are all these potentially "refusable"? BW A

Dear all, We recently have gone sale agreed on our "forever home" and naturally need mortgage protection insurance. My partner had a benign skin lesion removed recently which we naturally put on the form. We have now returned all doctors' reports documenting the benign nature, yet our...

Thanks Skrooge, Apologies, I am referring to the period that the interest rate is fixed for. Just so I am clear, when the AIP states “ approved for €x at y% fixed for 5 years” I can still change that 5 year period for something shorter?

Hi all, Is the term specified in the AIP the final term agreed or can it be changed after this point? Thanks A

I am in a similar situation. My interpretation of this is that this is your annual cash flow- which is negative. For this, you are getting the principal on your mortgage reduced. Depending on property prices, your equity in your home may increase/remain the same/decrease. Therefore, it is a low...

Thank you all for your replies. Brendan: not a listed building, Victorian era red brick family home.

Thank you Wm Kee Are you suggesting bringing both on a site visit at the same time? I was hoping to hear about strategies- ie bring builder first to establish what needs to be done and get baseline costs followed by architect. Or go straight to architect who can estimate both. No point on...

Dear all, we are considering bidding on a period house. The places we have visited need modernisation- plumbing, electrics and upgrading of insulation/heating as a minimum. In each we would like to extend the back at a single storey level to open up the kitchen/dining area ( standard wrap around...

I have just completed switching to BOI @ 3% for 3 yrs. Can I extend this period?

Dear all, I am leaving Ireland to undergo further training. I will finish employment in Ireland at the end of May. I will move to an EU country for 6 months for further training earning minimum wage and then to the UK for a possible 6-12 months earning the an average wage. My family will...

We are currently in the process of switching from KBC to EBS. The motivating factor was KBCs differentiation between new and existing customers and 2% cash back from EBS and lower rate (prior). Our application is being processed at the moment and we are hopeful. We are 18 months into our...