Submitting a Local Property Tax Return – Avoiding a Surcharge

If an individual has to submit a Local Property Tax (LPT) return and has not done so by their income tax return filing date i.e. 31 October 2013, he / she will liable to a surcharge on his / her income tax liability. This is in accordance with S38 of the Finance (Local Property Tax) Act 2012 which links the submission of a LPT return with an income tax return. The implication of this section is where a LPT return is due and the return and payment are outstanding, the individual’s income tax return is also […]

€200 Annual Charge on Non Principal Private Residences

  The Local Government Act 2009 introduced a  €200 annual charge on non principal private residences, payable by owners to the local authority in which the property in question is situated.   Collection of the charge for 2013 commenced on 31 March 2013. The 2013 charge is based upon the ownership of the property on 31 March 2013.   The 2013 charge must be paid on or before 30 June 2013 to avoid late payment fees.   Late payment fees are significant and any accumulated late payment fees will form a charge on the property concerned. It […]

Local Property Tax – Employers Responsibility

The Local Property Tax (LPT) deadline for filing paper returns has now passed and individuals liable to the LPT have until 28 May 2013 to file the LPT return electronically. When filing the return the Revenue gives property owners the option to pay their LPT for 2013 in one single payment or to phase their payments over the period from July to December 2013. One of the phased payment options being made available is the deduction at source from salary or occupational pension. Therefore employers will be required to make this facility available to their employees from […]

Local Property Tax

A new guide to help calculate local property tax! An online interactive guide is now available on www.revenue.ie to assist property owners in the valuation of their property and calculation of their LPT liability. This provides a guide to average market values of properties in a given locality and offers an indicative valuation band for properties depending on type, age and location. It does not provide market values for individual properties. The guidance is primarily based on the market value of properties sold since the year 2010 in the area, adjusted for average price movements in the […]

Taxation of Maternity Benefit

From July 2013 maternity benefit is to be harmonised with other benefits. From 1 July 2013 income tax will apply to maternity benefit payments. No USC or PRSI is applicable to maternity benefit payments. Note that this applies to employee’s on 1st July 2013 even if they have been receiving maternity benefit prior to this date. PDF

Property Tax Letters

On Monday 11 March 2013 Revenue  begun sending letters  to about 1.6m households regarding the Property Tax. The first payments will be demanded in May. An online property valuation guide is now available on the Revenue website to allow property valuations to be checked. The Revenue Commissioners anticipate a 97% compliance rate PDF

Employer Job Incentive Scheme

If you are an employer you can save money while giving to the community by creating a job. In fact, we had one lucky client who will save €3,225 over the next 18 months. Read on….. The Employer Job (PRSI) Incentive Scheme exempts employers from liability to pay their share of PRSI for certain employees. The scheme is open to employers who create new and additional jobs.To qualify for the Scheme both the job you create and the person you employ must meet certain criteria. If you qualify for the scheme you will be exempt from […]

PAYE Reporting in the UK

Any employers who are running payrolls in the UK need to note that from 6 April 2013 employers will have to start reporting PAYE information to HMRC in real time. This means that employers (or their accountant) will have to:   Send details to HMRC every time they pay an employee, at the same time they pay them. Use payroll software to send this information electronically as part of their routine payroll process.   PDF

Tax Relief for Dependent Relatives

Capital Gains Tax   An individual’s principal private residence, together with land occupied as its gardens or grounds up to a maximum of one acre, is exempt from CGT if the individual has used it as his / her principal private residence throughout his / her period of ownership.   In addition to the above relief, further relief may be available in respect of a gain arising to him / her on the disposal of a house which was used by a dependent relative as that relative’s sole residence. The house must have been provided to […]

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