BOUTIQUE
Tax Practice
Specialising in tax and accounting marketing for accountancy practises, preparation of income tax returns for rental property owners, sole traders and proprietory directors and preparation of VAT, stamp duty, CGT and CAT returns.
Sole trades
Ensure you are are claiming as much business related expenses as allowed with a free introduction consultation with Tax Action.
Earned income tax credit
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If you run your own business as a sole trader, you do not qualify for the PAYE tax credit of €1,650. Instead you may qualify for the earned income tax credit. Currently this credit is €950 (2017) and €1,150 (2018).
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Incorporation
Transferring your sole trade to a company can be a daunting task. Tax Action Ireland will help you every step along the way. Contact us for a free introduction consultation
Losses
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Where your business makes a loss in a year of trading, that loss may be used to reduce the tax of other income earned by your or your spouse or it may be carried forward to cover a profit in a future year.
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Requirements
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As a sole trader you must:
- register your trade name with the
CRO (if not trading under your
actual name);
- Register for income tax; and
- File an annual income tax return
with Revenue and pay any taxes owing.
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Capital allowances
Expenditure on certain items may qaulify for capital allowances if they are considered "plant". Capital allowances are used to reduce your tax bill as a soletrader.
Sole traders
Rental property owners
Requirements
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As a rental property owner, you are required to do the following, regardless of whether you are making a profit or not.
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- Register with the PRTB;
- Register for income tax;
- File an annual income tax return with Revenue; and
- Pay any taxes owing.
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Losses
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Rental losses may be carried forward to reduce future year rental profits.
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Mortgage interest relief
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Perhaps the most important relief for rental property owners is mortgage interest relief. This relief can only be clasimed if you are registered with the PRTB. The relief is restricted as follows:
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2017 - 80%
2018 - 85%
2019 - 90%
2020 - 95%
OUR VISION
Our vision is to provide a reliable and knowledgeable tax service to individuals who run their own business and who have rental properties.
We intend to become a trusted financial adviser to clients who know that they can rely on our advice.
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Our aim is to provide our clients with 7 star service akin to that of the Big 4 tax departments but at an affordable price.
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We will be efficient, honest and compliant at all times.
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Practice accountants
Importance
In a time when facebook, twitter, google and other socail platforms have become part and parcel with how people live their lives, it has never been more important to get your practice in the public eye.
Website optimisation
Recent statistics show that optimising the content on your website ensures that you remain at the top of the searches on google and other search platforms. Optimising your website can be as simple as adding blog posts, updating the about your page, giving the website a fresh new look and even linking it to your other social media platforms.
Why Tax Action Ireland?
First class honours in marketing modules, coupled with an ACA qualification will mean that your practice will benefit from an up-to-date, relevent and informative service.
CONTACT
Tax Action - Ireland
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OUR ADDRESS
Address: Tax Action Ireland, Ladytown, Newbridge, Kildare, W12 Y792
Email: aideen@taxactionireland.ie
Tel: 085 - 1394843
For any general inquiries, please fill in the following contact form:
