Tax Credits

[Little Sparrow]

What tax credits am I allowed for:

Self employed
Single Dad of 3 ( they live in my house )

Thanks

 

[jpd]

More information is needed before a definitive answer

Are you married?
Are you widowed?
Are you the sole carer of the children?
What age are you?

As a self-employed person, you are entitled to the Earned Income Credit = the lower of € 1,700 and 20% of your qualifying earned income

More info here https://www.revenue.ie/en/personal-...edits-reliefs-and-exemptions/tax-credits.aspx

 

[Little Sparrow]

More information is needed before a definitive answer

Are you married?
Are you widowed?
Are you the sole carer of the children?
What age are you?

As a self-employed person, you are entitled to the Earned Income Credit = the lower of € 1,700 and 20% of your qualifying earned income

More info here https://www.revenue.ie/en/personal-...edits-reliefs-and-exemptions/tax-credits.aspx

Hi JPD,

I am separated
Sole carer of the kids
47 years of age.

 

[jpd]

Separated - legally? if so, then you will get the single person's tax credit € 1,700
Sole carer of kids - € 1,650 plus increase in 20% rate band

these are in addition to the Earned Income credit

I think that's about it

 

[Little Sparrow]

Separated - legally? if so, then you will get the single person's tax credit € 1,700
Sole carer of kids - € 1,650 plus increase in 20% rate band

these are in addition to the Earned Income credit

I think that's about it

Hi JPD,

Thanks so much for the information. You are a great help.
Can you explain the increase in 20% rate band please?

 

[jpd]

From https://www.revenue.ie/en/personal-...n/single-person-child-carer-credit/index.aspx

You may also be entitled to an increased rate band of €4,000. This is an additional €4,000 at the 20% tax rate. If you are due the SPCCC, then you are automatically due the increased rate band.

Sometimes you have to do some work yourself - Give a man a fish and teach a man to fish comes to mind

 

[Little Sparrow]

From https://www.revenue.ie/en/personal-...n/single-person-child-carer-credit/index.aspx


Sometimes you have to do some work yourself - Give a man a fish and teach a man to fish comes to mind

From https://www.revenue.ie/en/personal-...n/single-person-child-carer-credit/index.aspx


Sometimes you have to do some work yourself - Give a man a fish and teach a man to fish comes to mind

Thanks a million JPD. I would never have made it as a merchant in venice with my lack of accounting abilities but maybe as a fisherman