Taxation Services-Compliance and Planning
The impact of taxation on any businesses cash flow cannot be underestimated. Keeping the tax expense to a minimum and ensuring that the business is compliant are essential to the success of all businesses. Our services cover compliance and also tax planning to ensure that all transactions are carried out in the most tax efficient manner. We can advise on personal tax, corporate tax and capital taxes. For complex tax problems we have access to the best consultants available.
We provide a complete range of Taxation Services, including: preparation and filing of returns; ensuring that you are compliant and meeting your obligations; tax advice and planning to ensure that any tax payable is kept to a minimum.
Our Tax Services include:
- Personal Tax including: self-employed income, rental income, investment income, share options, foreign income etc.
- Corporate Tax
- Advice on property acquisition and disposals
- Capital Gains Tax
- Capital Acquisitions Tax – estate planning, succession and inheritance
- Revenue negotiations and audits.
We prepare personal tax returns for individuals liable to income tax e.g. Self-employed income, rental income, investment income, share options and foreign income etc. There are many reliefs and exemptions from income tax and we make sure clients avail of all the exemptions and claim all the tax credits entitled to them. We also ensure that returns and payments are made on time to avoid any unnecessary surcharges etc.
Almost all trading profits are liable to corporation tax at 12 ½%. Investment income and rental income is liable to corporation tax at 25%. There are also many reliefs available to mitigate corporation tax liability and we can advise on these.
Compliance with VAT regulations is an important part of any business and we can assist with compliance work and advise on the VAT implications of particular transactions e.g. acquisitions, disposal of property, purchase and sale of businesses and importing and exporting of goods.
Capital Gains Tax
The rate of capital gains tax is currently 33%. This arises on capital gains made on disposal of certain assets. Reliefs available include retirement relief and some new property reliefs introduced by the Government as a result of the housing crash. We can prepare capital gains tax computations on your behalf and ensure all relevant reliefs and exemptions are availed of.
Capital Acquisitions Tax
In general capital acquisitions tax arises if you receive a gift or inheritance subject to certain limits and exemptions. The rate of capital acquisitions tax is currently 33%. By implementing the proper structures and proper planning many capital acquisition tax reliefs can be availed of. This can be incorporated into plans for handing over businesses to the next generation. We have been involved in several plans in this regard where we have successfully saved considerable amount of taxation on either inheritance or on transfer of assets.
Revenue Negotiations & Audits
If you are selected for Revenue audit it is important that all steps are taken to mitigate any interest and penalties that may arise. We have wide experience in dealing with Revenue audit and in arriving in settlements that mitigated clients exposure to interest and penalties.