Tax & Financial Planning

Get Your Tax Back

If you’ve overpaid tax, we can get it back. If you are unsure, we can work it out. If you need assurance, we are here to provide it.  

Independent Advice

We have the expertise to make sure you only pay what you have to. It is not always obvious how much it should be, or when to pay. You can rely on us to work it out. It's changing all the time.  You take care of the business.  We'll keep you compliant without the stress.

Time limits apply to when returns are filed and tax is paid. It will cost you, if you don't comply.  You might incur interest & penalties. Worse still, you could loose out entirely.  When you don't claim on time, reliefs & benefits can be lost.  

Managing Tax Obligations for Non-Resident Landlords

With effect from 2022, Non-Resident Landlords should choose to allow tenants withhold tax from gross rent, or appoint a Collection Agent to file the appropriate income tax returns and take responsibility to calculate and pay any income tax due.  This is different from a tax agent, in the general sense.  The Collection Agent will be registered for tax, and not the non-resident landlord.  There are usually rental expenses to deduct when calculating taxable rent.  The Revenue Commissioners will pursue the resident Collection Agent for tax, rather than trying to chase  a landlord who is not resident here.

Managing Your Tax Affairs

We prepare income tax returns under self assessment for those whose tax obligations extend beyond PAYE.
Best tax structures for couples.
Independent tax advice for those negotiating marriage break-ups, separation and divorce.
Estate planning and finalizing tax affairs with the Revenue Commissioners for deceased individuals.
Independent tax reviews and obtaining refunds when required.
Identifying tax reliefs and opportunities.
Tax Relief For Pension Contributions.

Starting your own business 

Let us help you take the first steps and get it right from the start.  We can handle all aspects of tax registration and compliance.

Business Organisation & Structure

When starting a business you need to choose an operating structure:

  • Sole Trader   (An Individual Owner)

  • Partnership   (Owners working together)

  • Limited Company   (Separate Legal Entity, owned by individuals who share control; managed by Directors)

Tax consequences are wide and varied.  Tax compliance takes time and usually focuses on income.  Capital taxes kick in when assets move or structures change.  Planning is the key to success.

Sole traders and partnerships operate business taxes in their own name.

A company is a separate legal entity which must follow formal procedures laid down in law. Companies file tax returns separate from their owners.  Owner-managers have additional tax obligations to comply with.  Company law creates the rule-book.  The company, with proper management, will become a valuable asset to sell or pass on in time. All you have to do, is follow the rules as laid down.  We're here to help.

Tax Registration
Whether forming a business as an individual or company, it is necessary to register for various taxes:

  • Income Tax/Corporation Tax
  • Tax Clearance
  • Capital Taxes
  • VAT
  • Employers PAYE Obligations
  • Sub-contractors

Employee Tax incentives
Employers may use monetary and other incentives to motivate staff. Knowledge of the tax implications associated with different types of remuneration is needed to take advantage of benefits and avoid the pitfalls. Certain employee benefits are paid free of tax, or at special low rates of tax.  We can help you exploit them to best advantage.

Property Ownership & Tax
Whether dealing with investment or business property, a clear understanding of the chosen ownership structure and associated tax consequences is vital. Taxes on income can be as high as 52%.  Companies pay tax @ 12.5%.  This leaves companies with a lot more after tax has been paid.  But companies can be subject to double taxation when they sell assets.  First, when they pay capital gains tax, and a second time, when shareholders draw down the profits.  We can help you weigh up the pros and cons in deciding what's best for you.
Tax considerations include minimizing the cost of funding, recovery of VAT on procurement and development; knowing the tax incentives and how to tap into them.

Retirement Planning
Advice is available for employees, executives and owner managers on the various tax issues associated with retirement planning, the payment of lump sums and transfer of shares on retirement.

The purpose of a pension is to build up funds while you can, to provide for a time when the capacity to earn is no longer there, or has been curtailed. Most people would like to keep the same standard of living after retirement as they had before. Some want more, and that is possible too. Pensions are one of the most tax efficient ways of saving for the future. They are optional now, soon they will become mandatory, with high associated costs. This reflects the fact that so few people make adequate provision.  The goal is financial independence, in retirement.  The need is real, but too fare away for most people to give it the attention it deserves.

There is flexibility in Retirement Planning that mixes pension funds and personal investments.  Where the latter is not enough, pensions provide a tax efficient was to build up a fund.  Rented investment properties can provide income in retirement. They require management too . Personal savings can be taken without further tax. But some funds may have exit taxes.  Pensions funds allow for some tax-free cash on retirement which is nice. The choices are there.  The key is to make them early.

Construction Industry Taxes
Special tax issues arise in the construction industry; Sub-Contractors are required to withhold tax from payments under contracts. Rules apply to those who operate in the construction industry.  There are simplifying measure to help ease the burden.  We can help to manage this for you.

VAT & Leasing for Investment Property
Property development is a specialist area for VAT purposes. Expert knowledge is necessary to avoid the pitfalls and minimize cost.

VAT, as it applies to property development and investment, presents opportunities and pitfalls. It is vital that you understand the rules in order to operate tax efficiently.  Our experience can help you maximize your return.

Revenue Audit
Advice is given based on many years experience in dealing with the Revenue Commissioners at various levels to include preparation for, assistance during, and negotiating settlements, representation in dispute cases, seek payment rescheduling, bring tax affairs up to date.

School & University Fees Planning

For those who are concerned about the costs of private education and university expenses, it is essential to plan early for future costs.  Let us show you the way.

We can advise you on tax efficient strategies which alleviate the onerous financial burden before the cost of private education arises. It is possible to accumulate future fees in a tax efficient manner and make provision for contingencies too.  

Inheritance Tax Planning

Inheritance tax can place a great burden on the recipient and lead to the sale of assets and break up of the estate to pay tax. Revenue approved insurance policies can help ease the burden and cut taxes.  It is not always necessary, but is worth considering!  Lifetime transfers (gifts) give rise to capital gains tax and stamp duty.  Capital taxes (CGT & Stamp Duty) do not apply to inheritances.  There are ways to mitigate capital taxes but it requires advance planning.  Don't leave it until it is too late.  If you have assets, take steps to protect them.
If you are extracting Probate, we can help you with the tax returns, bringing personals tax affairs up to date and filing tax returns where necessary.

Tax Briefings

Tax seminars for business organizations and professional bodies covering tax incentives and financial planning. Understand your rights and entitlements! Get the most from tax incentives! We provide tax training too!