Search Results for 'Taxation in the United Kingdom'

32 results found.

Are you entitled to a health contribution refund?

The Department of Social Protection is currently receiving a very high level of enquiries in relation to requests for refunds of the health contribution. The Department would therefore like to clarify the position in relation to health contribution refunds.

Budget 2012 - exceptional times, exceptional Budget?

Budget 2012 is unique in that the proposed expenditure cuts were announced a day ahead of the tax changes and also many of its provisions were well flagged ahead of Budget Day. The financial adjustment was set at €3.8bn with €2.2bn coming from expenditure cuts and €1.6bn coming from increased taxation. Despite all the advance leaks and speculation the Minister managed to keep a number of the changes secret until the Budget Speech especially in the area of incentives to business and measures to kick start the property market.

A look at gifts and inheritance tax

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The issue of inheritance and gift tax (CAT) is becoming more important to many people because of the reduction in the amount an individual can receive tax free. When an individual decides to transfer his/her assets to another person, either by gift or on their death, assets over a certain value will attract CAT. The current rate of tax is 25 per cent, there is speculation that it will increase in the upcoming budget. It is important that individuals plan the transfer of assets in a tax efficient manner, as many people may be forced to sell assets they have been gifted or left on an individual's death in an attempt to pay the CAT liability.

Reduce your 2010 Tax bill before November deadline

Self-assessed people (including sole traders, partners, proprietary directors, PAYE employees with rental income etc.) have to make a return of income by the end of october (or mid November if filed online). Worse again they must also pay all outstanding taxes due for 2010 and a corresponding amount for 2011 in many cases to prevent nasty fines. To avoid the severest of haircuts Numbercruncher advises the following no-brainer tips to save you money.

Reduce your 2010 tax bill before November deadline

Self-assessed people (including sole traders, partners, proprietary directors, PAYE employees with rental income etc.) have to make a return of income by the end of this month (or mid November if filed online). Worse again they must also pay all outstanding taxes due for 2010 and a corresponding amount for 2011 in many cases to prevent nasty fines. To avoid the severest of haircuts Numbercruncher advises the following no-brainer tips to save you money.

Time to act on succession plans

Now may be a good time to transfer assets and/or family owned businesses to the next generation and avail of the potential tax benefits arising from reduced property values and current tax reliefs.

Shoulda, woulda, coulda?

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For that increasingly rare breed, the first time buyer, now may be the moment to alert you to one or two issues which could assist your decision making process and more specifically, whether now is the time to take that leap into property ownership (or not).

Budget brings good news to the property market

An important change in stamp duty was announced in last week’s Budget, according to Michelle Burke of Premier Properties.

Should I transfer my business to a company?

In the first of a series of occasional articles on topical tax issues, Tom Donnelly, an independent, professional, tax adviser based in Castlebar, outlines the potential benefits of transferring a business to a company.

Opportunities amid the gloom

It is said “every cloud has a silver lining” and this is true in today’s economy. While the news is full of doom and gloom, we should look on the bright side and consider what opportunities we can grasp.

 

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