Introduction:
Capital Gains Tax (CGT) is a tax charged on the capital gain made on the disposal or the gifting of any asset. Assets could be property, shares, etc. CGT is paid by the person making the disposal. The gain (the difference between the price you paid for the asset and the price you sold it for) is the taxable gain, which is subject to CGT at a rate of 33%.
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One of the most common mistakes business owners make is not keeping their business and personal finances separate. Even if you’re just starting out, it’s essential to split up these two parts of your money life. Treat your business, big or small, like a viable entity.
Would you like to know how directors and employees can be paid up to €500 tax-free?
Under Irish Revenue’s Small Benefits Exemption Scheme, employers can reward employees with a non-cash bonus of up to €500 in value completely tax free each year (the limit was increased from €250 in the Budget passed in Oct 2015).
You may claim tax relief in respect of certain qualifying medical/dental expenses paid by you in respect of any individual. Please visit www.revenue.ie to find a list of qualifying medical expenses.Please note that expenses incurred outside the state may qualify.