Contributions to an exempt approved scheme are allowable as an expense in assessing an employee’s liability to tax under Schedule E. This is only an income tax relief and does not apply to the Universal Social Charge (USC) and Pay Related Social Insurance (PRSI). The following are the applicable pension plans:
In today’s fast-paced business world, here are some tips to help you to be more effective at multi tasking.
Over the past 10 years or so businesses have become leaner by reducing employee numbers, focusing on efficiency and increasing the demands on their staff. An increased workload forces us to multitask, which may be effective for a short period of time, but over the long term, can cause stress.
Multitasking is not about “piling on the work” to the point of exhaustion. It’s about training the brain to channel energy in an efficient and effective manner so you can accomplish more in less time. One of the keys to learning how to multitask effectively is actually to slow down, in order to accomplish more.
Continue reading “Effective multi-tasking”You may claim income tax relief on nursing home expenses paid by you. You can claim this relief at your highest rate of tax if the nursing home provides 24-hour on-site nursing care.
The Health Service Executive (HSE) can provide you with assistance for the cost of your nursing home care. The HSE will review your income and assets to calculate the amount you should pay towards the cost of your care. You can claim health expenses relief on the amount you pay yourself.
The HSE pay the balance of the costs of the nursing home. You cannot claim health expenses relief on this amount.
Continue reading “Tax Relief on Nursing Home Expenses”Understanding what your customers really value can help you to market your products and services more effectively.
Customer value is the perception of what a product or service is worth to the customer. Customers don’t buy features – they buy benefits. Your customers will buy your product or service because of the benefits that they get. If you take the time to understand what your customers value and what they are willing to pay for, you will be able to market your business more effectively. You may also be able to win new customers from your competitors.
Most businesses make the mistake of thinking about value purely in terms of money. They create special offers to promote their products and services, but all they are doing is cutting their profit margin in a race to the bottom. Sure, there is a place in most markets for a lowest priced competitor but this doesn’t work for everyone. Take the airline industry – there isn’t room for more than a handful of low cost airlines and that is why many of them are in financial difficulty – their costs have gone up, but there is downward pressure on pricing.
Continue reading “Delivering Customer Value”You should register for self-assessment if you are self-employed, receive income from non-PAYE sources such as rental income, investment income, maintenance payments etc. or you profited from share options or share incentives. You are not required to register for self-assessment if:
If you are required to file a personal income tax return, now is the time to prepare all the information to submit your 2018 Tax Return. Your 2018 Personal Income Tax Return must be submitted to the Inspector of Taxes by 31st October 2019. This return is a statement of all your income and capital gains for the year ended 31st December 2018.
Continue reading “2018 Personal Income Tax Return”
