Amberleigh
Registered User
- Messages
- 2
Either by extortion or in a brown paper bag, I'm not fussyWhat is your favourite hack for taking money from a business?
Who 'advised' you to do this??but now as company director I have been advised to take a salary of around 30k, which is enough to live on, but a lot lower than before
Was a sole trader until v recently. Now running ltd company.
Add travel expenses to that.Professional training
Justified equipment
Pension contributions
€1000 per year voucher per employee
Thats debatable, depending on the contract.Add travel expenses to that.
It is definitely debatable but I get the impression the op is looking at all possible options that one might use.Thats debatable, depending on the contract.
For example if in IT contracting, if your "place of work" for the contract is Dublin, travel to and from that location is not an allowable expense.
If I need to go to Cork for an ad-hoc arrangement, that is allowable.
Accountant should advise on this.
What "business" are you implying the OP is engaged in?Sometimes you may need to stay overnight in a hotel in Dublin for a "business" event, in which case you will need to feed yourself also.
Not so simple if you're having to ask I guess?Its pretty simple when it comes down to it:
...
There's literally nothing else?
At current Dublin hotel and restaurant rates, the €167 maximum overnight subsistence rate won't leave much to spare.Sometimes you may need to stay overnight in a hotel in Dublin for a "business" event, in which case you will need to feed yourself also.
okay?Not so simple if you're having to ask I guess?
Does he pay tax on this rental income?Speaking to a contractor in Benelux area recently (who has his own ltd company).
He owns his house, works from home, and is able to rent out a room in his house as "office space" to his company, and decides on a reasonable rent to charge.
And maybe planning permission for change of use?Perhaps, but could have implications for local rates, property tax, CGT for the non-residential portion on any sale, etc.
Yes, it's less than income tax, but seems there are additional complications if someone was to do this in Ireland.Does he pay tax on this rental income?
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