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  1. J

    Accountant Fees

    High accounting fees If foreign accountants were so impressed with fee rates in Ireland one would surely expect some to set up here. Super profits never last. this is an economic truism. There are almost no barriers to entry to accountancy. Any non-qualified person can call themselves an...
  2. J

    Inheriting Land- Buy House & Marriage before or after

    You are right to seek professional advice on a transaction like this. If you look up the Irish Taxation Institute website they will have a list of advisers in Limerick. A few relevant points are Your partner may be seeking to claim agricultural Property Relief for CAT. Agricultural assets must...
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    PAYE exclusion order : Conflicting advice

    An old case tippinf v Jeancard found that a directorship of an Irish registered company is an office under Irish law and as such taxable under Scghedule E i.e. PAYE There are exceptions where the director is a partner in a professional firm and the money is paid to the firm. The relevant treaty...
  4. J

    non resident, how long to qualify

    you are still resident if you are here for 183 days in the tax year or 280 days in tax year and the preceding tax year A year with less than 30 days is ignored Any part of a day here is included If you are leaving for an employment you can claim split year relief which will remove the...
  5. J

    Calculating tax on investment fund gains

    Gains on such funds are calculated as for CGT except for indexation of costs, which is now gone anyway and the bizarre situation of losses not being allowable. The gain calculated as in the Rabo statement would be market value of full holding at 8 year period less cost of acquisition years 1...
  6. J

    What's the difference between Resident and Ordinarily Resident for tax purposes?

    The main difference is resident, ordinarilly resident and domiciled you are taxed on worldwide income and gains If you are non-resident butordinarily resident the starting point is still worldwide income and gains. However, it excludes trades, professions and vocations wholly exercised outside...
  7. J

    CGT or Gift Tax

    You use the term inherit. Inheritance implies passing on a death. On a death there is no CGT liability just CAT. The land is deemed to pass at market value at date of death. John Conlon
  8. J

    Class S PRSI.

    3% PRSI 2% health levy plus income levy
  9. J

    Help with form 11

    ur musician activity means you must file a return. To get the artists exemption you must apply for it demonstrating that you meet the requirements. the exemption does not cover performance income. Yohttp://www.conlonosullivan.ie/tax-advice/
  10. J

    Tax advise on Redundancy/Share payment?

    Your payoff from the job would be non-taxable provided it was not part of your contracted entitlements e.g. pay in lieu of notice. On the shares the relevant tax would be CGT unless they involved exercising options If they were selling shares you alraedy had the gain would be calculated...
  11. J

    tax credit for maintaince payments??

    Only maintenance for a spouse is allowable [broken link removed]
  12. J

    W8-BEN Selling US share options

    RTSO1 applies to options. there is aseparate slot on Form 11 relating to awards. the main issue here is that you would still have to complete Form11 but not RTSO1. [broken link removed]
  13. J

    Proprietary directorship

    Setanta12 is absolutely correct. The restriction only applies to the same company to avoid manipulation. [broken link removed]
  14. J

    PAYE to Self Empoyed

    HMRC object to this. refer to their guidance IR35. It s a question of fact whether you are employed or self-employed. It is not actually a taxpayer choice. John Conlon [broken link removed]
  15. J

    0% Corporation Tax for start-up companies

    DB74 is correct. An existing trade does not qualify Also, a few other things to consider. You pay 0% Corporation Tax. But if you extract cash you still pay Income Tax up to your highest personal rate. Most valuable if you are generating more cash than you take out. [broken link removed]
  16. J

    employing NI residents

    I would have agreed with that if the work was being done here.
  17. J

    Can I off-set losses on in investment poperty in New Zealand ?

    Is the loss a capital loss on selling the property/ Or is it a loss on rental of the property? Losses on renting the property Losses on foreign rental would be under Case III forign possessions. Such losses are only useable against foregn income. generally Revenue would only offset against...
  18. J

    Paying PAYE here, but living abroad

    For 2008 qnd 2009 will be resident here. I assume ordinarily resident here i.e. resident also in 2007. For 2010 to 2012 inclusive will be ordinarily resident. Therefore for 2009 liable to Irish tax on worldwide income and capital gains For 2010 to 2012 liable to Irish tax on worldwide income...
  19. J

    switching PPR to NPPR

    Last 12 months of ownership count as PPR for CGT [broken link removed]
  20. J

    Capital Gains Tax Applicable ?

    Last 12 months counts as principal private residence. Therefore all exempt [broken link removed]
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