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I haven't checked the detail of the employers PRSI. I think if t/o is below a certain level the 10.75% may not apply (in full, at any rate). But, and I'm subject to correction on this, I don't think the fact that it's director owned makes any difference. I'd double check the PRSI thing if I...

You can go through the tedious job of doing a month by month conversion. What I do - for small amounts- is simply average the 12 monthly rates used by revenue and use that. For CGT it is important however to convert the purchase price at the rate then prevailing, and the disposal price a rates...

They are making it almost impossible to find paper forms now. Part of the move online.

Your options are to operate as a self employed or set up a company. If you are a self employed sole trader you make an annual return on form 11 and pay tax each year at end October. If you set up a company and the company employs you, the company must operate a paye regime for you (and pay...

You got €62k. Of this (600 X 2 X 12) + 600 = 15k would have been statutory and tax free. Thus the balance is 62 - 15 = 47k. This is taxed (from memory so may be faulty) at average of last 3 years pay X 12/15. I estimate you earned about €34,000 a year so your tax free amount would be c €27k...

I tried to get an answer to a basic query some time back. Still waiting.......................... I now have another query which I have submitted. I wont hold my breath. However, the underwriter is AIG so I shall ring them with my query instead. I take the point about the Ryanair model, but if...

No. Your parents are entitled to the PPR relief for the period they were in occupation - I.e up to 1980. I think ( but you would need to check) that CGT began in 1974. So it's the value in 1974 that any CGT will be based on. If they occupied the house for, say 20 years, and have rented it out...

If you have any income not captured under your paye system you must declare that income for tax purposes.

Re vat. If she bills the work through the existing company she will have to charge vat. The company can reclaim any vat paid out on relevant supplies. Apart from that she simply takes a salary which is taxed in normal way. Alternatively she can set up her own company and broadly operate as...

The €6k (approx) differential between young and old is made up of (round numbers) Tax - -€500 PRSI. - €4000 (no PRSI payable by over 66s) USC - €1500. ( no USC payable on 25k of income as it is state oap). I can (sort of) understand the difference in PRSI. But if it's earned income I'd...

I presume you're referring to the 21k? I think it's right. Tax €19010 Prsi. 0 USC. €2,000 (est).

At the risk of broadening this debate, I have a particular bugbear about the differing treatment of younger v older people in the tax system. If you take couple, both 66 years, and each has a state pension (€12.5k), each has an occupational pension of 20k and each has a parttime job of 17.5k...

Gain of 215 - loss of 4.5 - loss of 5 = net gain. Yes if you crystallise more losses you can use them to reduce the net gain.

If you have an income of, say, 60,000 you will be taxed on 60,000. If you have a 10,000 nursing home bill this will be deducted from the 60,000 to leave you with a taxable income of 50,000. Thus you save the tax on 10,000 I.e 40% @ 10.000 = 4,000. You will still pay USC on 60.

1. Using ROS the deadline is extended (until 16th, I think). 2. Yes, you should declare and claim the 1270 ( pr whatever the level is) 3. If your non- paye income is less than €5000 use form 12. (Capital gains not counted in 5000). 4. If form 12 only pay 2016 tax.

Yes I know that. But if the property were sold in two lots (a) the house and one acre and (b) the other two acres, then the only CGT payable would be on the two acres in lot b.

The surcharge was brought in during one of the earlier crisis budgets. It was a last minute measure, and replaced some other planned measure which was deemed to be politically awkward (can't remember what). Anyway the civil servants were tasked with plugging gap - quickly - and this was the...

But would one of the 3 acres not be part of the ppr and therefore exempt from CGT, leading to a lower tax?

Surely no vat liability for the purchaser?

No. Use it or lose it in the same year.