{"id":10314,"date":"2025-10-15T12:56:33","date_gmt":"2025-10-15T10:56:33","guid":{"rendered":"https:\/\/seoblog.taxback.com\/?p=10314"},"modified":"2025-10-29T10:41:13","modified_gmt":"2025-10-29T08:41:13","slug":"your-bullsh1t-free-guide-to-self-assessment-taxes-in-ireland","status":"publish","type":"post","link":"https:\/\/www.taxback.com\/blog\/your-bullsh1t-free-guide-to-self-assessment-taxes-in-ireland\/","title":{"rendered":"Your Bullsh*t-Free Guide to Self-Assessment Taxes in Ireland"},"content":{"rendered":"<p>Unlike  PAYE  employees,  if  you  are  self-employed  or  if  you  earn  income  outside  the  PAYE  system,  you  must  file  your  own  end-of-year  tax  return.  Find  out\u00a0<a  href=\"https:\/\/www.taxback.com\/blog\/claim-irish-tax-back-for-first-time\">how  to  claim  tax  back<\/a>\u00a0in  Ireland  if  it&#8217;s  your  first  time  trying  to  get  a  tax  refund.<\/p>\n<p>Many  people  who  earn  income  outside  the  PAYE  system  feel  unsure  of  their  tax  obligations  and  entitlements.<\/p>\n<p>If  you  don&#8217;t  earn  any  income  from  self-employment,  you  may  find  our  PAYE  tax  guide  useful.<\/p>\n<p>But  if  you  do  earn  money  outside  the  PAYE  system  \u2013  such  as  from  rental  income,  trading  or  investments  etc  \u2013  you&#8217;ll  no-doubt  find  this  Bullsh*t-free  guide  to  Self-Assessment  taxes  in  Ireland  to  be  a  very  useful  resource.<\/p>\n<p>Throughout  the  following  chapters  we&#8217;ll  cover  everything  you  need  to  know  from  what  your  obligations  are,  to  the  reliefs  &amp;  credits  you  are  entitled  to,  and  how  you  can  go  about  getting  them.<\/p>\n<p>Plus  we&#8217;ve  broken  all  of  the  tax  jargon  down  into  plain  English!<\/p>\n<p>So,  let&#8217;s  get  started  then!  Here&#8217;s  the  basics  of  Self-Assessment  tax  in  Ireland.<\/p>\n<p style=\"text-align: center;\"><strong>Watch our FREE Self-Assessed Tax Webinar<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/en\/self-assessed-tax-return-webinar\"; target =\"_blank\" rel=\"noopener\";>WATCH NOW<\/a><\/p>\n<p>\u00a0<\/p>\n\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10338  size-large  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-1024x576.png\" alt=\"irish  self  assessed  tax  guide\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-self-assessed-tax-guide.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\n<\/p>\n<h2 id=\"becoming-self-employed\">Becoming  self-employed<\/h2>\n<p>\nIn  Ireland,\u00a0<strong>14.75%  of  the  workforce  is  self-employed<\/strong>.  But  what  does  this  mean?<\/p>\n<p>Well,  when  you  become  self-employed,  you  conduct  your  own  business  rather  than  work  for  an  employer.<\/p>\n<p>In  truth,  there  are  a  number  of  advantages  and  disadvantages  to  working  for  yourself.  For  example,  when  you  are  self-employed  you  are  in  complete  control  of  what  you  do,  as  well  as  where  and  when  you  want  to  do  it.  In  other  words,  you  organise  your  own  business  type,  working  hours  and  location.<\/p>\n<p>On  the  other  hand,  many  self-employed  people  work  very  long  hours  and  do  not  have  a  regular  source  of  income.<\/p>\n<p>You  will  also  have  to  handle  your  own  tax  affairs  &#8211;  through  the\u00a0<strong>self-assessment  tax  system<\/strong>.  Through  the  following  chapters,  this  no-nonsense  guide  will  outline  everything  you  need  to  know  about  tax  for  the  self-employed.<\/p>\n<p>\u00a0<\/p>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_4ca536dffac461fbb6f1b203f9bb1b45\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-4ca536dffac461fbb6f1b203f9bb1b45\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-4ca536dffac461fbb6f1b203f9bb1b45\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/MFw1ICndhKU?si=Dv3wqW0qA0IGJfa_\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_4ca536dffac461fbb6f1b203f9bb1b45 = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/MFw1ICndhKU?si=Dv3wqW0qA0IGJfa_&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<\/p>\n<h2 id=\"self-employment-and-tax\">Self-employment  and  tax<\/h2>\n<p>\nYou  will  be  considered  &#8216;<strong>a  chargeable  person<\/strong>&#8216;  for  self-assessment  purposes  if  you  are  due  to  pay  tax  on  behalf  of  yourself  (or  another  person)  for  a  particular  tax  period.<\/p>\n<p>For  instance,  if  you:\n<\/p>\n<ul>\n<li>have  other  sources  of  income  in  addition  to  your  PAYE  salary,  Or<\/li>\n<li>are  self-employed,  Or<\/li>\n<li>are  a  director  of  an  Irish  company,<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">then  you  will  be  considered  a  &#8216;chargeable  person&#8217;  (with  some  exceptions  to  this  general  rule).<\/p>\n<p  style=\"font-weight:  400;\">You  will\u00a0<strong>not  be  considered<\/strong>\u00a0a  chargeable  person  if:<\/p>\n<ul>\n<li>Your  total  income  consists  of  PAYE  salary<\/li>\n<li>You  are  in  receipt  of  both  PAYE  and  non-PAYE  income  \u2013  where  the  total  non-PAYE  income  assessable  to  tax<br \/>\n&#8211;  Does  not  exceed  \u20ac5,000  and<br \/>\n&#8211;  Is  coded  into  your  certificate  of  tax  credits  (exception  does  not  apply  to  company  directors)  or  is  taxed  at  source<\/li>\n<li>You  have  been  notified  by  Revenue  that  you  don&#8217;t  need  to  file  a  tax  return<\/li>\n<\/ul>\n<p>\nOnce  an  individual  becomes  a  chargeable  person,  they  must  register  as  such  with  Revenue  by  completing  a\u00a0<strong>Form  TR1  or  Form  TR1  (FT)<\/strong>.<\/p>\n<p>A\u00a0<strong>TR1  Form<\/strong>\u00a0can  be  used  by\u00a0<strong>resident  individuals<\/strong>,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.<\/p>\n<p>Meanwhile,  a\u00a0<strong>TR1  (FT)  Form<\/strong>\u00a0can  be  used  by\u00a0<strong>non-resident  individuals<\/strong>,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.<\/p>\n<p>These  forms  can  also  be  used  to  register  for  VAT,  Relevant  Contracts  Tax  and\/or  Employer&#8217;s  PAYE\/PRSI.<\/p>\n<p>Once  completed,  you  will  receive  a  &#8216;<strong>Notice  of  Registration<\/strong>&#8216;  confirming  that  your  registration  has  been  completed.\n<\/p>\n<h3 id=\"but-when-is-tax-actually-due-to-be-paid\">But  when  is  tax  actually  due  to  be  paid?<\/h3>\n<p>\nMany  PAYE  employees  have  their  tax  automatically  deducted  from  their  weekly  or  monthly  salary  payment.<\/p>\n<p>However,  the  self-assessment  system  is  very  different  to  the  PAYE  system.  In  the  self-assessment  system,  tax  is  due  to  be  paid  on  or  before  31  October  each  year  following  the  year  of  assessment.<\/p>\n<p>The  tax  that  you  pay  is  based  on  the  income  you  earned  during  the  previous  tax  year.  So,  for  example,\u00a0<strong>tax  on  income  earned  in  2025  is  due  on  31  October  2026<\/strong>.<\/p>\n<p>Many  PAYE  employees  have  never  filed  a  tax  return.  However,  every  self-employed  person  must  file  a  tax  return  every  year.  The  type  of  tax  return  you  have  to  file  depends  on  how  much  income  you  earn.<\/p>\n<p>If  your  taxable  non-PAYE  income  in  a  year\u00a0<strong>does  not  exceed  \u20ac5,000<\/strong>\u00a0and  your  gross  non-PAYE  income  does  not  exceed  \u20ac30,000,  you  will  need  to  submit\u00a0<strong>a  tax  return  Form  12<\/strong>.  If  your  taxable  non-PAYE  income\u00a0<strong>exceeds  \u20ac5,000<\/strong>,  or  your  gross  non-PAYE  income  exceeds  \u20ac30,000,  you  must  register  for  self-assessment  and  file\u00a0<strong>a  tax  return  Form  11<\/strong>.\n<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0An  individual  whose  non-PAYE  income  is  zero  due,  for  example,  to  an  allowance  which  reduces  their  taxable  profits  to  zero,  is  considered  a  chargeable  person.  This  is  because  zero  profits  can&#8217;t  be  taxed  through  the  PAYE  system.  In  other  words,  a  tax  return  Form  11  must  be  filed.<\/p>\n<p  style=\"font-weight:  400;\">The  deadline  for  filing  a  tax  return  (Form  11  or  Form  12)  for  a  tax  year  is  the  31  October  of  the  following  year.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10427  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tr1-form.jpg\" alt=\"\" width=\"526\" height=\"744\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tr1-form.jpg 526w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tr1-form-127x180.jpg 127w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tr1-form-212x300.jpg 212w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tr1-form-380x537.jpg 380w\" sizes=\"auto, (max-width: 526px) 100vw, 526px\" \/><\/p>\n<h4 id=\"tr1-form\">TR1  Form<\/h4>\n<h2 id=\"preliminary-tax\">Preliminary  Tax<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10344  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland.png\" alt=\"calculating  your  preliminary  tax  ireland\" width=\"824\" height=\"834\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland.png 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-178x180.png 178w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-296x300.png 296w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-768x777.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-80x80.png 80w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-380x385.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/calculating-your-preliminary-tax-ireland-800x810.png 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p>For  Income  Tax  (IT)  purposes,  preliminary  tax  is  your\u00a0<strong>estimate  of  the  IT,  Pay  Related  Social  Insurance  (PRSI)  and  Universal  Social  Charge  (USC)<\/strong>\u00a0that  you  expect  to  pay  for  a  tax  year.  You  must  pay  this  by\u00a0<strong>31  October<\/strong>\u00a0of  the  tax  year  in  question.<\/p>\n<p>If  you  wish  to  pay  preliminary  tax,  you  must  use  a  VISA  or  MasterCard  credit  or  debit  card<\/p>\n<p>Preliminary  tax  is  calculated  by  paying  either:\n<\/p>\n<ul>\n<li>90%  of  the  tax  due  for  that  year<\/li>\n<li>100%  of  the  tax  due  for  the  preceding  year<\/li>\n<li>105%  of  the  tax  due  for  the  pre-preceding  year  (this  option  only  applies  where  you  pay  by  direct  debit  &#8211;  it  does  not  apply  if  you  had  no  tax  due  for  the  pre-preceding  year)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">For  example  \u2013  Margaret  has  a  tax  bill  of:<\/p>\n<ul>\n<li>\u20ac2,000  in  year  one<\/li>\n<li>\u20ac3,000  in  year  two<\/li>\n<li>\u20ac4,000  in  year  three<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">When  filing  her  tax  return  for  year  two  (i.e.  by  31  October  of  year  three),  she  must  choose  the  amount  of  preliminary  tax  she  is  going  to  pay  in  respect  of  year  three.<\/p>\n<p  style=\"font-weight:  400;\">She  can  choose  either:<\/p>\n<ul>\n<li>\u20ac3,600  (90%  of  the  tax  due  for  that  year,  i.e.  year  three)<\/li>\n<li>\u20ac3,000  (100%  of  the  tax  due  for  the  previous  year,  i.e.  year  two)<\/li>\n<li>\u20ac2,100  (105%  of  the  tax  due  for  the  pre-preceding  year,  i.e.  year  one)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">When  Margaret  is  filing  her  tax  return  for  year  three  (i.e.  by  31  October  of  year  four)  she  will  calculate  her  tax  bill  for  the  year.  If  the  preliminary  tax  she  paid  in  year  three  is  less  than  the  amount  of  her  tax  bill,\u00a0<strong>she  will  have  to  pay  the  balance<\/strong>.  However,  if  it  is  more  than  this  figure,  she  will  be  entitled  to  a\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/ireland\/\">tax  rebate<\/a>.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<h2 id=\"universal-social-charge\">Universal  Social  Charge<\/h2>\n<p  style=\"font-weight:  400;\">USC  is  a  tax  you  pay  on  your\u00a0<strong>gross  income<\/strong>.  Everyone  earning  over  \u20ac13,000  gross  income  is  liable  to  pay  USC.  Payment  of  USC  is  due  to  Revenue  when  you  are  filing  your  tax  return.<\/p>\n<p><strong>Standard  Rates  of  USC  2024<\/strong><\/p>\n\n<table id=\"tablepress-26\" class=\"tablepress tablepress-id-26\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">2025<\/th><th class=\"column-2\">Standard rate of USC<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">First \u20ac12,012<\/td><td class=\"column-2\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Next \u20ac15,370<\/td><td class=\"column-2\">2%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Next \u20ac42,662<\/td><td class=\"column-2\">3%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Balance (above those amounts)<\/td><td class=\"column-2\">8%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Self-employed income over \u20ac100,000<\/td><td class=\"column-2\">11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-26 from cache -->\n<p>There  is  a  USC  surcharge  of  3%  if  your  non-PAYE  income  is  more  than  \u20ac100,000  a  year.<\/p>\n<p><strong>Reduced  rates  of  USC  apply  to  some  people  who:<\/strong><\/p>\n<p>Are  aged  70  or  over\u00a0<em>or<\/em>\u00a0hold  a  full  Medical  Card  (not  a  GP  Visit  Card).<\/p>\n<p><strong>The  reduced  rates  apply  for  the  whole  year  when  you:<\/strong><\/p>\n<p>You  are  aged  70  or  over  and  your  total  income  is  \u20ac60,000  or  less.<\/p>\n<p>If  you  hold  a  medical  card,  you  should  tell  Revenue  to  ensure  you  are  on  the  reduced  rate.<\/p>\n<p>If  your  income  is  more  than  \u20ac60,000,  the  standard  rates  of  USC  apply  to  your  full  income.<\/p>\n<p>If  you  are  self-employed,  you  pay  your  USC  liability  alongside  your  preliminary  tax  payment.<\/p>\n<p>You  do  not  have  to  pay  USC  on  your  social  welfare  payments  or  on  any  income  you  pay  Deposit  Interest  Retention  Tax  (DIRT)  on.<\/p>\n<p>And  depending  on  your  age  and  situation  you  may  be  exempt  from,  or  entitled  to,  reduced  rates  of  USC.\n<\/p>\n<h2 id=\"prsi\">PRSI<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10355  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund.png\" alt=\"prsi  ireland  tax  refund\" width=\"824\" height=\"824\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund.png 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-180x180.png 180w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-150x150.png 150w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-300x300.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-768x768.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-80x80.png 80w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-380x380.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/prsi-ireland-tax-refund-800x800.png 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p>Usually,  if  you  are  self-employed  you  will  pay\u00a0<strong>Class  S  PRSI<\/strong>.  Class  S  PRSI  contributions  are  paid  at:\n<\/p>\n<ul>\n<li>a  rate  of  4%  on  all  income,  or<\/li>\n<li>\u20ac500  &#8211;  whichever  is  the  greater<\/li>\n<\/ul>\n<p><strong>Note:<\/strong><\/p>\n<p>\u00a0if  you  earn  less  than  \u20ac5,000  from  self-employment  in  a  year  you  are  exempt  from  paying  Class  S  PRSI  but  you  may  pay  \u20ac500  as  a  voluntary  contributor.<\/p>\n<p>If  you  are  an  employee  of  a  limited  company  that  is  owned  by  your  spouse  or  a  family  member,  you  are  insurable  at\u00a0<strong>PRSI  Class  A  (or  Class  J)<\/strong>.  If  you  are  not  an  employee  but  participate  in  the  running  of  the  company  or  if  you  hold  a  directorship  or  shareholding  position  and  have  control  over  its  operations,  you  may  be  treated  as  a  self-employed  contributor  and  liable  to  pay  Class  S  PRSI  (provided  you  earn  more  than  \u20ac5,000).<\/p>\n<p>Two  or  more  family  members  who  operate  a  business  as  a  partnership  and  share  the  profits  are  insurable  as  self-employed  contributors  at  Class  S  (if  they  earn  over  \u20ac5,000).  Family  members  employed  by  a  partnership  pay  Class  A  (or  Class  J).\n<\/p>\n<h2 id=\"tax-credits\">Tax  credits<\/h2>\n<p>\nTax  credits  can  be  used  to  reduce  your  overall  tax  bill.  So  it  is  definitely  worth  investigating  which  tax  credits  you  are  entitled  to.<\/p>\n<p>For  starters,  the<strong>\u00a0Earned  Income  Tax  Credit<\/strong>  applies  to  most  self-employed  people.  This  tax  credit  is  worth  \u20ac1,950  for  2025  and  you  can  subtract  this  figure  from  your  tax  liability.<\/p>\n<p>The  earned  income  credit  cannot  be  transferred  to  your  spouse  or  civil  partner.<\/p>\n<p>You  may  have  income  that  qualifies  for  the  Employee  Tax  Credit  and  the  Earned  Income  Tax  Credit.  If  so,  the  combined  credits  cannot  exceed  the  maximum  value  of  the  Employee  Tax  Credit  (\u20ac1,950).<\/p>\n<p><strong>The  credit  available  is  the  lower  of:<\/strong><\/p>\n<p>\u20ac1,950<\/p>\n<p>or<\/p>\n<p>20%  of  your  qualifying  earned  income<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<h2 id=\"filing-a-return\">Filing  a  return<\/h2>\n<p>\nIt&#8217;s  possible  to  file  a  tax  return  (for  example  \u2013  Form  11  or  Form  12)  yourself  through  Revenue  Online  Service  (ROS).  Alternatively,  if  you  would  prefer  not  to  complete  your  income  tax  return  yourself,  you  can  enlist  the  services  of  an  expert  tax  agent  such  as\u00a0<strong><a  href=\"https:\/\/www.taxback.com\/en\/ireland\/self-assessed-tax-return\/\">Taxback<\/a><\/strong>\u00a0and  they  can  file  your  return  for  you.\n<\/p>\n<h2 id=\"overpaying-tax\">Overpaying  tax<\/h2>\n<p>\nEvery  year  many  people  pay  either  too  much  or  too  little  tax.  An  overpayment  of  tax  could  arise  as  a  result  of  not  claiming  all  of  the  credits  and  reliefs  you  are  entitled  to.<\/p>\n<p>The  good  news  is  that  you  can  go  back  4  years  to  claim  a  refund  and  the  deadline  to  file  your  tax  return  is  31  October  each  year.  In  other  words,  if  you  want  to\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/ireland\/paye-tax-refunds\/\">claim  a  tax  refund<\/a>  from  2021,  then  2025  is  the  last  year  that  you  can  claim.<\/p>\n<p>To  get  your\u00a0<a  href=\"https:\/\/www.taxback.com\/blog\/tax-rebate-ireland\/\">tax  rebate<\/a>,  you  can  contact  Revenue  directly.  Alternatively,  a  tax  agent  such  as\u00a0<strong>Taxback<\/strong>\u00a0can  file  your  paperwork  and  get  your\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/\">tax  refund<\/a>\u00a0for  you.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10350  size-large  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-1024x683.jpg\" alt=\"tax  return  ireland  self  assessed  guide\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-1024x683.jpg 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-1536x1024.jpg 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-2048x1365.jpg 2048w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-800x533.jpg 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide-1160x773.jpg 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/tax-return-ireland-self-assessed-guide.jpg 2121w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\n<\/p>\n<h3 id=\"pay-and-file-system-how-does-it-work\">Pay  and  file  system  &#8211;  how  does  it  work?<\/h3>\n<p>\nBy  31  October  in  a  tax  year,\u00a0<strong>you  must<\/strong>:\n<\/p>\n<ul>\n<li>pay  your  preliminary  tax  for  that  year<\/li>\n<li>file  your  tax  return  and  self-assessment  for  the  previous  tax  year<\/li>\n<li>pay  any  balance  of  tax  due  for  the  previous  year<\/li>\n<\/ul>\n<p>\nFiling  before  the  deadline  is  very  important.  If  you  miss  these  deadlines  you  will  have  to  pay  interest  and  fines  on  top  of  your  tax  bill.<\/p>\n<p>You  will  have  to  pay  a  surcharge  if  you  send  your  tax  return  after  the  deadline,  as  follows:\n<\/p>\n<ul>\n<li>within  two  months  of  the  filing  date:  5%  of  the  tax  due,  up  to  \u20ac12,695<\/li>\n<li>over  two  months:  10%  of  your  tax  liability,  up  to  \u20ac63,485<\/li>\n<\/ul>\n<p>\nHowever,  when  you  pay  and  file  through  the  Revenue  Online  Service  (ROS),  the  31  October  deadline.<\/p>\n<p><strong>Note:<\/strong>\u00a0even  if  you  pay  and  file  on  time  for  Income  Tax,  a  5%  surcharge  may  apply  if  your  Local  Property  Tax  (LPT)  obligations  are  not  met.<\/p>\n<p>A  chargeable  person  is  liable  to  interest  if:\n<\/p>\n<ul>\n<li>the  preliminary  tax  paid  is  insufficient  or  is  not  paid  on  time<\/li>\n<li>the  balance  of  tax  due  is  not  paid  on  time<\/li>\n<\/ul>\n<p>\nInterest  runs  from  the  due  date  for  payment  and  the  interest  charge  is  0.0219%  per  day  or  part  of  the  day.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10351  size-large  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-1024x576.png\" alt=\"what  do  i  pay  on  irish  tax  on\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/what-do-i-pay-on-irish-tax-on.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\n<\/p>\n<h3 id=\"should-i-register-for-self-assessed-tax\">Should  I  register  for  self-assessed  tax?<\/h3>\n<p>\nThere  are  many  reasons  why  you  may  need  to\u00a0<strong>register  for  self-assessment  tax<\/strong>\u00a0(by  completing  a\u00a0<strong>TR1  form<\/strong>\u00a0or\u00a0<strong>TR1  (FT)<\/strong>\u00a0form).<\/p>\n<p>These  include  if  you:\n<\/p>\n<ul>\n<li>are  self-employed<\/li>\n<li>receive  income  from  non-Pay  As  You  Earn  (PAYE)  sources,  for  example:<\/li>\n<\/ul>\n<ol>\n<li>rental  income<\/li>\n<li>investment  income<\/li>\n<li>foreign  income  including  foreign  pensions<\/li>\n<li>maintenance  payments<\/li>\n<li>fees  that  are  exempt  from  PAYE<\/li>\n<\/ol>\n<ul>\n<li>have  profited  from  share  options  or  share  incentives\u00a0(this  is  only  applicable  for  the  years  before  2024,  however,  employers  must  still  report  the  profit  via  payroll)<\/li>\n<li>are  a  director  of  an  Irish  company<\/li>\n<\/ul>\n<p>\nAlthough\u00a0<strong>company  directors  are  always  chargeable  persons<\/strong>,  it  is  Revenue  practice  to  exclude  the  following:\n<\/p>\n<ul>\n<li>Directors  of  dormant  companies<\/li>\n<li>Directors  of  companies  in  which  they  own  15%  or  less  of  the  share  capital<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0<\/p>\n<p>In  other  words,  even  if  you  are  an\u00a0<strong>employee  in  the  PAYE  system<\/strong>\u00a0you  may  need  to  pay  tax  through  the  self-assessment  if  you  earn  non-PAYE  income.<\/p>\n<p>You  do  not  need  to  register  for  self-assessment  if:\n<\/p>\n<ul>\n<li>you  only  have  PAYE  income<\/li>\n<li>your  taxable  non-PAYE  income  does  not  exceed  \u20ac5,000  and  is  taken  into  account  in  calculating  your  tax  credits  and  standard  rate  cut-off  point  for  PAYE  purposes.  It  may  also  be  taxed  at  source,  providing  the  gross  non-PAYE  income  does  not  exceed  \u20ac30,000  (in  these  cases  you  must  submit  a  Form  12).<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10353  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund.jpg\" alt=\"irish  paye  tax  refund\" width=\"939\" height=\"643\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund.jpg 939w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund-263x180.jpg 263w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund-300x205.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund-768x526.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund-380x260.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/irish-paye-tax-refund-800x548.jpg 800w\" sizes=\"auto, (max-width: 939px) 100vw, 939px\" \/><\/p>\n<h2 id=\"what-do-i-pay-tax-on\">What  do  I  pay  tax  on?<\/h2>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_98dd3f1714327cd3ffa6c0a741271322\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-98dd3f1714327cd3ffa6c0a741271322\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-98dd3f1714327cd3ffa6c0a741271322\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/6MG-h0iocyw?si=-mZ7FABFW2q4G2jQ\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_98dd3f1714327cd3ffa6c0a741271322 = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/6MG-h0iocyw?si=-mZ7FABFW2q4G2jQ&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;span  data-mce-type=&quot;bookmark&quot; style=&quot;display:  inline-block;  width:  0px;  overflow:  hidden;  line-height:  0;&quot; class=&quot;mce_SELRES_start&quot;&gt;\\\\ufeff&lt;\\\\\/span&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<p>You  must  declare\u00a0<strong>all  non-PAYE  income  to  Revenue  for  tax  purposes<\/strong>.  Even  if  there  is  no  record  of  a  particular  transaction,  it  is  still  important  that  you  declare  the  cash  you  received  for  your  services.<\/p>\n<p>So,  for  example,  if  you  teach  guitar  in  your  spare  time,  you  will  need  to  declare  any  income  you  receive  to  Revenue.<\/p>\n<p>Your  tax  obligations  will  differ  depending  on  whether  you  have  earned  more  or  less\u00a0<strong>than  \u20ac5,000  in  a  year<\/strong>.<\/p>\n<p>For  example,  Philip  teaches  guitar  in  his  spare  time.  This  earns  him  \u20ac250  every  month  (\u20ac3,000  per  year).  Meanwhile,  Carl  delivers  food  with  Deliveroo  at  the  weekend  and  earns  \u20ac170  per  week  (\u20ac8,840  per  year).<\/p>\n<p>Carl  has  earned  more  than  \u20ac5,000  a  year  and  will  need  to  register  as  a  self-assessed  individual  with  Revenue  by  completing  a  TR1  form  (he  only  needs  to  do  this  once).  Carl  must  then  file  a  Form  11  tax  return  and  make  a  tax  payment  by  31  October  each  year  for  the  previous  year&#8217;s  earnings.<\/p>\n<p>Because  Philip  earns  less  than  \u20ac5,000  a  year,  Form  12  is  the  correct  option  for  him  to  file.  Similarly  to  Form  11,  Philip&#8217;s  earnings  from  the  previous  year  will  be  relevant  when  completing  a  Form  12.<\/p>\n<p>You  don&#8217;t  have  to  pay  tax  on:\n<\/p>\n<ul>\n<li>Scholarship  income<\/li>\n<li>Interest  from  Savings  Certificates,  Savings  Bonds,  and  National  Installment  Savings  Schemes  with  An  Post<\/li>\n<li>Payments  to  approved  pension  schemes<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Certain  types  of\u00a0<strong>income  are  exempt  from  income  tax<\/strong>.  However,  you  may  still  need  to  pay  USC  and  PRSI  on  this  income.  Examples  of  these  exempt  incomes  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Artists&#8217;  Exemption<\/li>\n<li>Rent-a-Room  Relief<\/li>\n<li>Woodlands<\/li>\n<\/ul>\n<h3 id=\"trading-and-professional-income\">Trading  and  professional  income<\/h3>\n<p>\nA  self-employed  person  is  someone  who  runs  their  own  business  &#8211;  known  as  a  trade  or  profession.<\/p>\n<p>The  full  amount  of  profits  or  gains  associated  with  the  business  is  taxed  in  the  year  of  assessment.  &#8216;The  full  amount  of  profits  or  gains&#8217;  is  taken  to  be  the  difference  between  the  income  from  the  trade  and  the  expenditure  incurred  and  allowed  under  tax  law  in  earning  that  income.<\/p>\n<p>When  a  trader  makes  a  loss,  it  can  be  used  in  two  ways:\n<\/p>\n<ul>\n<li>Use  it  to  reduce  the  non-trading  income  for  the  year  of  loss,or<\/li>\n<li>Carry  it  forward  to  future  years  and  set  it  against  future  profits  of  the  same  trade<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"universal-social-charge-usc\">Universal  Social  Charge  (USC)<\/h2>\n<p>\nOn  1  January  2011,  the  Universal  Social  Charge  (USC)  replaced  both  the  income  levy  and  the  health  levy  (also  known  as  the  health  contribution).<\/p>\n<p>If  you  earn  more  than\u00a0<strong>\u20ac13,000  (gross)  per  year  you  will  have  to  pay  USC<\/strong>.  The  payment  will  be  due  when  you  complete  your  annual  Form  11  tax  return.\n<\/p>\n<h3 id=\"standard-rates-and-thresholds-of-usc-effective-from-1-january-2025\">Standard  rates  and  thresholds  of  USC  effective  from  1  January  2025<\/h3>\n\n<table id=\"tablepress-26-no-2\" class=\"tablepress tablepress-id-26\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">2025<\/th><th class=\"column-2\">Standard rate of USC<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">First \u20ac12,012<\/td><td class=\"column-2\">0.5%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Next \u20ac15,370<\/td><td class=\"column-2\">2%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Next \u20ac42,662<\/td><td class=\"column-2\">3%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Balance (above those amounts)<\/td><td class=\"column-2\">8%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Self-employed income over \u20ac100,000<\/td><td class=\"column-2\">11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-26-no-2 from cache -->\n<h3 id=\"bank-bonuses\">Bank  Bonuses<\/h3>\n<p>\nA  45%  rate  applies  to  bonuses  paid  to  employees  of  financial  institutions  that  received  financial  support  from  the  government  including:\n<\/p>\n<ul>\n<li>Allied  Irish  Bank<\/li>\n<li>Anglo  Irish  Bank<\/li>\n<li>Bank  of  Ireland<\/li>\n<li>Educational  Building  Society<\/li>\n<li>Irish  Nationwide  Building  Society<\/li>\n<\/ul>\n<p>\nIf  the  payments  are  \u20ac20,000  or  less  in  a  year,  the  standard  rates  of  USC  apply.<\/p>\n<p>If  the  payments  are  more  than  \u20ac20,000  in  a  year,  the  full  amount  is  at  45%  USC.\n<\/p>\n<h3 id=\"property-relief-surcharge\">Property  relief  surcharge<\/h3>\n<p>\nAn  additional  5%  rate  of  USC  applies  to  taxable  income  that  is  &#8216;sheltered&#8217;  by  certain  property  or  area-based  incentive  reliefs.  This  includes  all  of  the  property-based  capital  allowances  and  the  relief  for  residential  lessors  known  as  &#8216;section  23-type&#8217;  relief.<\/p>\n<p><strong>The  surcharge  applies  to:<\/strong><\/p>\n<p>Capital  allowances  made  in  or  carried  forward  to  the  tax  year  2012  and  any  later  tax  year<\/p>\n<p>Any  losses  carried  forward  to  2012  or  a  later  year  that  are  due  to  section  23-type  relief.<\/p>\n<p>There  is  also  a  USC  surcharge  of\u00a0<strong>3%<\/strong>\u00a0if  your  non-PAYE  income  is  more  than\u00a0<strong>\u20ac100,000<\/strong>\u00a0a  year.  In  other  words,  USC  is  charged  at\u00a0<strong>11%<\/strong>\u00a0on  non-PAYE  income  that  exceeds\u00a0<strong>\u20ac100,000<\/strong>.<\/p>\n<p>The  property  relief  surcharge  does  not  apply  if  your  gross  income  is  less  than  \u20ac100,000<\/p>\n<p>In  the  case  of  an  individual  whose  total  income  in  the  year  does  not  exceed  \u20ac60,000  and  is  either:\n<\/p>\n<ul>\n<li>Aged  70  or  over,<br \/>\n<em>or<\/em><\/li>\n<li>holds  a  full  medical  card<\/li>\n<\/ul>\n<p>\nIn  this  case  a  2.5%  rate  applies  to  all  income  over  \u20ac12,012.<\/p>\n<p>Many  types  of  income  are\u00a0<strong>exempt  from  USC<\/strong>\u00a0including:\n<\/p>\n<ul>\n<li>Where  an  individual&#8217;s  total  income  does  not  exceed  \u20ac13,000<\/li>\n<li>All  Department  of  Social  Protection  payments<\/li>\n<li>Income  subjected  to  DIRT,  Credit  Union  dividends<\/li>\n<li>Tax  exempt  portion  of  termination  payments<\/li>\n<li>Certain  withdraws  of  Additional  Voluntary  Contributions  (AVC)  before  retirement<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"prsi-2\">PRSI<\/h2>\n<p>\nPay  Related  Social  Insurance  (PRSI)  contributions  are  deducted  from  your  income  and  used  to  fund  certain  social  insurance  payments,  such  as  state  pensions.  There  are  different  rates  of  PRSI  for  different  categories  \u2013  for  example  most  PAYE  employees  pay  Class  A  PRSI.<\/p>\n<p>Self-employed  people  (aged  between  16  and  66)\u00a0<strong>usually  pay  Class  S  PRSI  at  4%<\/strong>\u00a0on  all  gross  income  (less  allowable  expenses)  for  tax  purposes.  You  must  pay  4%  of  all  your  income,  or  \u20ac500,  whichever  is  greater.<\/p>\n<p><strong>Note:<\/strong>\u00a0If  you  earn  less  than  \u20ac5,000  from  self-employment  in  a  year  you  are  exempt  from  PRSI,  but  you  may  pay  \u20ac500  as  a  voluntary  contributor  (if  you  meet  certain  conditions).<\/p>\n<p>The  vast  majority  of  self-employed  people  pay  their  tax  to  Revenue  through  the  self-assessment  system.  However,  certain  categories  of  self-employment  will  pay  their  PRSI  through  the  PAYE  system  or  directly  to  the  Department  of  Social  Protection.\n<\/p>\n<h3 id=\"who-is-self-employed\">Who  is  self-employed?<\/h3>\n<p>\nUnder\u00a0<strong>PRSI  Class  S<\/strong>\u00a0self-employed  people  are  defined  as:\n<\/p>\n<ul>\n<li>professional  people  (for  example  doctors,  dentists,  solicitors  etc.)<\/li>\n<li>sole  traders,  people  in  business  on  their  own  or  in  partnership,  farmers,  religious,  contractors,  sub-contractors<\/li>\n<li>people  with  income  from  investments,  rents  or  maintenance  payments<\/li>\n<li>employees  who  are  also  self-employed  in  a  trade  or  profession<\/li>\n<li>company  directors,  and  others,  who  pay  their  tax  through  the  PAYE  system  but  who  are  not  regarded  as  employees  for  social  insurance  purposes<\/li>\n<li>certain  artists  and  childminders  who  have  been  made  exempt  from  income  tax  by  Revenue<\/li>\n<li>spouses  or  civil  partners  of  self-employed  contributors  who  participates  in  the  business<\/li>\n<\/ul>\n<h3 id=\"income-excluded-from-prsi\">Income  excluded  from  PRSI<\/h3>\n<p  style=\"font-weight:  400;\">There  are  some  types  of  income  that  do  not  have  to  be  taken  into  account  when  you  are  working  out  what  your  PRSI  contribution  should  be:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>capital  allowances<\/li>\n<li>benefit  income  such  as  pensions,  allowance  or  supplement  from  the  Department  of  Social  Protection<\/li>\n<li>occupational  pensions<\/li>\n<li>allowances  paid  by  the  Health  Service  Executive<\/li>\n<li>income  continuance  payments  that  have  been  approved  by  Revenue  and  are  received  by  a  person  forced  to  leave  employment  due  to  illness<\/li>\n<li>redundancy  payments  and  early  retirement  bonus<\/li>\n<li>retirement  lump  sums  in  excess  of  \u20ac200,000  which  are  subject  to  income  tax<\/li>\n<li>the  early  encashment  of  certain  amounts  of  private  pensions  which  are  subject  to  income  tax  by  individuals  in  the  public  sector  who  had  previously  been  self-employed<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"persons-excluded-from-prsi\">Persons  excluded  from  PRSI<\/h3>\n<p>\nCertain  people  can  also  be\u00a0<strong>excluded  from  paying  Class  S  PRSI<\/strong>\u00a0including:\n<\/p>\n<ul>\n<li>Relatives  of  the  self-employed  (other  than  spouses  or  civil  partners)  who  help  out  in  the  running  of  the  business,  but  who  are  not  business  partners<\/li>\n<li>Those  in  receipt  of  Pre-Retirement  Allowance  on  an  ongoing  basis<\/li>\n<li>People  with  annual  income  of  less  than  \u20ac5,000<\/li>\n<li>People  who  are  not  ordinarily  resident  in  the  State  with  solely  unearned  income<\/li>\n<li>People  who  pay  contributions  at  Class  A  and  whose  only  self-employment  income  is  unearned  income<\/li>\n<li>People  in  receipt  of  Occupational  pension  whose  only  self-employment  income  is  unearned  income<\/li>\n<\/ul>\n<h2 id=\"social-welfare\">Social  Welfare<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10356  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland.jpg\" alt=\"social  welfare  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/social-welfare-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p>When  you  make  a  PRSI  contribution  (in  any  Class),  it  is  recorded  to  determine  your  future  entitlements  to  social  welfare  benefits.<\/p>\n<p>If  you  are  self-employed  and  you  pay  Class  S  PRSI  contributions,  you  will  be  covered  for  a  limited  number  of  payments.  In  general,  under  Class  S  you  will  not  be  covered  for  any  short-term  payments  including  illness  and  disability  payments.  It  also  does  not  cover  you  for  Jobseeker&#8217;s  Benefit.<\/p>\n<p>However,  Class  S  contributions  can  entitle  you  to:\n<\/p>\n<ul>\n<li>Maternity  and  Paternity  Benefit<\/li>\n<li>Adoptive  Benefit<\/li>\n<li>Widow&#8217;s,  Widower&#8217;s  or  Surviving  Civil  Partner&#8217;s  (Contributory)  Pension<\/li>\n<li>Guardian&#8217;s  payment  (Contributory)<\/li>\n<li>State  Pension  (Contributory)<\/li>\n<li>Treatment  Benefit,  (Dental,  Optical  and  Aural)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0You  can&#8217;t  claim  your  State  Pension  (Contributory)  until  all  necessary  payments  have  been  made.  If  you  are  aged  over  66  and  you  still  owe  Class  S  PRSI  contributions,  your  State  Pension  (Contributory)  will  only  be  paid  from  the  date  that  you  have  paid  all  outstanding  contributions  and  any  outstanding  income  taxes  in  full.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"voluntary-contributions\">Voluntary  contributions<\/h3>\n<p>\nSelf-employed  people  who  are  not  liable  to  pay  PRSI  may  be  eligible  to  become  a  voluntary  contributor,  subject  to  meeting  certain  conditions.<\/p>\n<p>Voluntary  contributions  allow  you  to  remain  insured  once  you  leave  the  compulsory  PRSI  system.  You  may  choose  to  pay  voluntary  contributions,  provided  you  meet  certain  conditions  including  if  you:\n<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>are  no  longer  covered  by  a  PRSI  scheme  on  a  compulsory  basis  in  Ireland<\/li>\n<li>are  no  longer  covered  by  a  PRSI  scheme  on  a  compulsory  or  voluntary  basis  in  any  other  E.U.  country<\/li>\n<li>are  under  age  66<\/li>\n<li>satisfy  the  scheme&#8217;s  qualifying  conditions<\/li>\n<\/ul>\n<h3 id=\"prsi-for-share-fishermen\">PRSI  for  share  fishermen<\/h3>\n<p  style=\"font-weight:  400;\">A  share  fisherman  (or  woman)  (who  is  classed  as  self-employed),  may  choose  to  pay  an  additional  PRSI  contribution  at\u00a0<strong>Class  P<\/strong>.  This  contribution  provides  cover  beyond  normal  Class  S  PRSI  benefits  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Limited  Jobseeker&#8217;s  Benefit  (up  to  13  weeks  in  each  calendar  year)<\/li>\n<li>Limited  Illness  Benefit  (up  to  52  weeks)<\/li>\n<li>Treatment  Benefit,  for  their  dependent  spouse\/civil  partner<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  rate  of  Class  P  contribution  is  4%  of  income,  subject  to  the  income  ceiling  applied  to  self-employed  contributors.  This  contribution  is  additional  to  the  normal  Class  S  payment  made  by  the  contributor.  In  order  to  remain  a  Class  P  contributor  a  person  must  continue  to  be  liable  for  Class  S  PRSI  and  ensure  that  all  payments  due  are  up-to-date.<\/p>\n<h3 id=\"prsi-refunds\">PRSI  Refunds<\/h3>\n<p>\nA  refund  of  PRSI  is  payable  to  a  self-employed  contributor  who  has  reached  the  age  of  56  years  on  or  before  6  April  1988,  paid  PRSI  for  the  first  time  on  or  after  that  date  and  does  not  qualify  for  either  a  State  Pension  (contributory)  or  State  Pension  (non-contributory).  The  refund  payable  is  53%  of  PRSI  paid,  which  is  the  pension  element  of  Class  S  PRSI  contributions.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"capital-gains-tax\">Capital  Gains  Tax<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10357  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland.jpg\" alt=\"capital  gains  tax  ireland\" width=\"824\" height=\"392\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland-300x143.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland-768x365.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland-380x181.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/capital-gains-tax-ireland-800x381.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p>If  you  invest  your  money  in  an  asset  (like  stocks  or  shares)  and  you  subsequently  dispose  of  the  asset  you  may  have  to  pay  Capital  Gains  Tax  (CGT).<\/p>\n<p>CGT  is  a  tax  charged  on  the  capital  gain  (profit)  made  on  the  disposal  of  an  asset  (the  tax  is  payable  by  the  person  making  the  disposal).  The  gain\/profit  (the  difference  between  the  price  you  paid  for  the  asset  and  the  price  you  sold  it  for  with  allowable  deductions  subtracted)  is  considered  taxable  income.\n<\/p>\n<h3 id=\"rates\">Rates<\/h3>\n<p>\nThe  standard  rate  of  CGT  is  33%  for  disposals  made  on  or  after  5  December  2012.<\/p>\n<p>However,  a  rate  of  40%  can  apply  to  the  disposal  of  certain  foreign  life  assurance  policies  and  units  in  offshore  funds.  Gains  from  venture  capital  funds  are  charged  at  12.5%  (individuals  and  partnerships)  or  15%  (companies).  And,  for  certain  windfall  gains  (attributable  to  relevant  planning  decisions  on  disposals  made  between  30  October  2009  and  31  December  2014)  the  rate  of  tax  is  15%.<\/p>\n<p>A  reduced  CGT  rate  of  10%  will  apply  to  the  disposal  in  whole  or  in  part  of  a  business  up  to  an  overall  limit  of  \u20ac1  million  in  qualifying  chargeable  gains.  Payments  under  the  new  raised  bog  restoration  incentive  scheme  to  relevant  owners  and  rights  holders  will  be  exempt  from  CGT.\n<\/p>\n<h3 id=\"what-is-an-asset\">What  is  an  asset?<\/h3>\n<p>\nSome  common  types  of  investment  assets  are  stocks,  shares,  currency  and  property.  But  an  asset  is  not  just  something  you  own  outright.  It  can  also  be  something  you  have  an  interest  in,  for  example,  a  leasehold  interest  in  land.\n<\/p>\n<h3 id=\"what-is-a-disposal\">What  is  a  disposal?<\/h3>\n<p>\nDisposal  refers  to  the\u00a0<strong>transfer  of  ownership<\/strong>\u00a0of  an  asset  by  way  of:\n<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Sale<\/li>\n<li>Exchange<\/li>\n<li>Gifting<\/li>\n<li>Settlement  on  trustees<\/li>\n<\/ul>\n<h3 id=\"what-do-you-pay-cgt-on\"  style=\"font-weight:  400;\">What  do  you  pay  CGT  on?<\/h3>\n<p  style=\"font-weight:  400;\">You  have  to  pay  CGT  on  gains  made  from  the  sale,  gift  or  exchange  of  an  asset  such  as:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>land<\/li>\n<li>buildings  (houses,  apartments,  or  commercial  property)<\/li>\n<li>shares  in  companies  (Irish-resident  or  non-resident)<\/li>\n<li>assets  that  have  no  physical  form  such  as  goodwill,  patents  and  copyright<\/li>\n<li>currency  (other  than  Irish  currency  \u2013  including  cryptocurrency)<\/li>\n<li>assets  of  a  trade<\/li>\n<li>foreign  life  insurance  policies  and  offshore  funds<\/li>\n<li>capital  payments  (in  certain  situations).<\/li>\n<\/ul>\n<p>\nYou  may  also  have  to  pay  CGT  on  gains  for  other  types  of  assets.  Examples  of  these  assets  include  antiques,  paintings  and  jewellery.<\/p>\n<p>In  some  situations,  reliefs  and  exemptions  may  apply.<\/p>\n<p>You  may  have  made  a  loss  when  disposing  of  an  asset.  You  can  use  this  loss  against  a  capital  gain  made  by  you  in  the  year  that  you  made  the  loss.  You  can  also  carry  it  forward  until  you  can  offset  it  against  a  capital  gain.  However,  you  can&#8217;t  backdate  the  loss  in  order  to  offset  it  against  chargeable  gains  which  were  made  in  earlier  years  of  assessment.  Capital  losses  are  also  not  available  for  offset  against  income  taxable  under  corporation  tax  or  income  tax.<\/p>\n<p>In  relation  to  married  couples  and  civil  partners,  surplus  losses  of  one  spouse  or  civil  partner  in  a  year  of  assessment  can  be  transferred  to  the  other  spouse  or  civil  partner  for  offset  against  chargeable  gains  arising  in  the  same  year  of  assessment.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"disposal-of-a-business-or-farm\">Disposal  of  a  Business  or  Farm<\/h3>\n<p>\nIf  you  are  disposing  of  a  business  or  a  farm  to  someone  other  than  your  child  and  you  are  55  or  older,  you  may  be  eligible  to  claim  CGT  relief  when  you  dispose  of  any  part  of  your  business  or  farming  assets.  This  is  referred  to  as  retirement  relief  but  you  do  not  have  to  retire  in  order  to  qualify.<\/p>\n<p>There  are  certain  circumstances  in  which  you  may  qualify  for  this  relief  before  you  are  55.  They  are  as  follows:\n<\/p>\n<ul>\n<li>You  are  unable  to  continue  farming  due  to  ill  health.<\/li>\n<li>You  reach  the  age  of  55  within  12  months  of  the  disposal.<\/li>\n<li>For  disposals  made  up  to  and  including  31  December  2013,  you&#8217;re  eligible  to  claim  full  relief  when  the  market  value  at  the  time  of  disposal  does  not  exceed  \u20ac750,000.<\/li>\n<li>This  threshold  may  be  reduced  to  \u20ac500,000  if  both  of  the  following  are  applicable;<\/li>\n<li>The  disposal  takes  place  on  or  after  1  January  2014<\/li>\n<\/ul>\n<p><strong>AND<\/strong><\/p>\n<p>You  are  66  or  older.<\/p>\n<p>If  the  market  value  is  more  than  the  above  defined  threshold,  marginal  relief  may  apply.  This  will  limit  the  CGT  to  half  the  difference  between  the  market  value  and  the  threshold.<\/p>\n<p>The  \u20ac750,000  (\u20ac500,000  after  1  January  2014  for  those  aged  66  or  older)  is  a  lifetime  limit.  If  you  exceed  this  threshold,  relief  given  on  earlier  disposals  will  be  withdrawn.\n<\/p>\n<h3 id=\"disposing-of-a-farm-to-your-child\">Disposing  of  a  farm  to  your  child<\/h3>\n<p>\nYou  can  dispose  of  all  or  part  of  your  business  or  farming  assets  to  your  child.  If  you  do,  you  may  be  entitled  to  relief  from  CGT.\n<\/p>\n<ul>\n<li>The  definition  of  your  child  for  the  purpose  of  this  relief  is  as  follows:<\/li>\n<li>A  child  of  your  deceased  child.<\/li>\n<li>Your  niece  or  nephew  who  has  worked  full  time  in  the  business  or  farm  for  a  minimum  of  5  years.<\/li>\n<li>Your  foster  child  who  you  have  maintained  for  a  minimum  of  5  years.<\/li>\n<\/ul>\n<p>\nThe  amount  of  relief  you&#8217;re  entitled  to  depends  on  your  age  at  the  time  of  the  disposal:\n<\/p>\n<ul>\n<li>Up  to  31  December  2013,  you  can  claim  full  relief  if  you&#8217;re  55  or  older<\/li>\n<li>From  1  January  2014,  you  can  claim  full  relief  if  you  are  between  55  and  65.  If  you&#8217;re  older  the  relief  is  restricted  to  \u20ac3  million<\/li>\n<\/ul>\n<p>\nIf  your  child  disposes  of  the  asset  within  6  years,  the  relief  will  be  withdrawn.  Your  child  must  pay  CGT  on  the  original  disposal  by  you,  in  addition  to  CGT  on  their  own  disposal.\n<\/p>\n<h3 id=\"cgt-reliefs\">CGT  Reliefs<\/h3>\n<h4 id=\"indexation-relief\">Indexation  Relief<\/h4>\n<p>\nIndexation  Relief  (also  known  as  &#8216;inflation  relief)  may  be  claimed  if  you  owned  the  asset  you&#8217;re  selling  before  2003.<\/p>\n<p>When  it  comes  to  Indexation  Relief,  the  market  value  of  the  asset  at  the  time  you  became  the  owner  is  increased.  This  increase  is  based  on  inflation,  calculated  by  the  Central  Statistics  Office.<\/p>\n<p><strong>Example<\/strong><\/p>\n<p>Sean  bought  his  investment  property  in  June  1990  for  \u20ac50,000.  He  incurred  costs  of  \u20ac2,000  on  the  purchase  of  the  property.  In  2017,  he  sold  the  house.<\/p>\n<p>The  purchase  price  and  the  costs  (\u20ac52,000)  are  indexed  by  the  relevant  indexations  factor  (totalling  \u20ac74,984).  This  sum  is  then  deducted  from  the  sale  price  of  the  property  in  calculating  the  amount  of  CGT  due.<\/p>\n<p>In  the  case  of  land  that  is  being  used  for  development,  relief  only  applies  to  a  specific  value.  This  is  the  value  that  the  land  would  have  had  at  the  date  you  became  the  owner  if  it  was  not  development  land.<\/p>\n<p>Indexation  relief  was  abolished  for  the  tax  year  2003  and  all  subsequent  years.  if  you  became  the  owner  of  an  asset  in  2003,  or  in  later  years,  you&#8217;re  not  entitled  to  indexation  relief  on  that  asset.\n<\/p>\n<h4 id=\"farm-reconstructing-relief\">Farm  Reconstructing  Relief<\/h4>\n<p>\nYou  may  claim  a  relief  from  CGT  if  you  dispose  of  farm  land  in  order  to  make  your  farm  more  efficient.  The  conditions  are;\n<\/p>\n<ul>\n<li>The  first  sale  or  purchase  must  have  occurred  between  1  January  2013  and  31  December  2019.<\/li>\n<li>The  next  sale  or  purchase  must  occur  within  24  months  of  the  first  sale  or  purchase.  You  can  also  claim  the  relief  where  you  exchanged  land  with  another  person.<\/li>\n<\/ul>\n<p>\nYou  must  receive  a  certificate  from\u00a0<a  href=\"https:\/\/www.teagasc.ie\/\">Teagasc<\/a>\u00a0in  order  to  claim  this  relief.  The  certificate  must  state  that  you  carried  out  the  transaction  for  farm  restructuring  purposes.\n<\/p>\n<p  style=\"font-weight:  400;\">The  land  you  sold  or  exchanged  may  have  a  higher  value  than  either:<\/p>\n<ul>\n<li>The  land  you  purchased.<\/li>\n<li>The  land  you  received  in  exchange  for  your  land.<\/li>\n<\/ul>\n<p>\nIn  this  case,  the  amount  of  relief  you  can  claim  will  be  reduced.<\/p>\n<p>You  may  dispose  of  the  land  you  purchased  or  exchanged  within  5  years  of  the  date  of  purchase  or  exchange.  If  you  do,  you  won&#8217;t  be  able  to  claim  Farm  Restructuring  Relief.  Unless  you  sell  the  land  under  a  compulsory  purchase  order.\n<\/p>\n<h4 id=\"revised-entrepreneur-relief\">Revised  Entrepreneur  Relief<\/h4>\n<p>\nYou  can  claim  relief  from  CGT  if  you&#8217;ve  made  gains  from  disposing  of  business  assets.  There  is  a  lifetime  limit  of  \u20ac1  million  on  the  gains  that  you  can  claim  relief  on.  The  gains  on  disposals  must  be  made  on  or  after  1  January  2016.<\/p>\n<p>If  you  claim  this  relief,  you  have  to  pay  CGT  at  the  rate  of  10%  on  gains  from  the  disposal  of  business  assets.  This  is  reduced  from  the  normal  rate  of  33%.  Up  to  31  December  2016,  gains  from  this  kind  of  disposal  are  charged  at  20%.\n<\/p>\n<h4 id=\"compensation-and-insurance-money\">Compensation  and  insurance  money<\/h4>\n<p>\nSarah  received  an  insurance  policy  payment  for  damage  caused  by  a  fire  in  a  property  that  she  owns.  This  is  treated  as  capital  payment  derived  from  an  asset  (the  property)  which  means  she  must  pay  CGT  on  it.<\/p>\n<p>On  the  other  hand,  if  Sarah  decides  to  use  the  payment  to  repair  the  damage  done  to  the  property,  she  has  the  option  of  deferring  the  payment  of  the  CGT.  The  amount  of  compensation  she  receives  will  be  treated  as  reducing  the  cost  of  the  asset.  The  CGT  won&#8217;t  be  due  on  the  payment  until  the  asset  is  sold.<\/p>\n<p>The  deferral  of  CGT  is  a  relief  meaning  it  must  be  claimed,  it  does\u00a0<strong>not\u00a0<\/strong>apply  automatically.\n<\/p>\n<h4 id=\"land-or-buildings-acquired-between-7-december-2011-and-31-december-2014\">Land  or  buildings  acquired  between  7  December  2011  and  31  December  2014<\/h4>\n<p>\nYou  may  be  due  relief  if  you  disposed  of  land  or  buildings  acquired  between  7  December  2011  and  31  December  2014.  You  must  have  owned  the  land  or  buildings  for  at  least  7  continuous  years.  You  can  reduce  the  gain  by  the  number  of  years  that  you  owned  the  property,  divided  by  7  years.<\/p>\n<p>If  you  owned  buildings  or  land  for  10  years,  the  gain  will  be  reduced  by  seven  tenths  (7  years\/10  years)<\/p>\n<p>You  may  claim  the  relief  in  respect  of  land  or  buildings  in  this  country  or  in  any  European  Economic  Area  (EEA  state).<\/p>\n<p>You&#8217;ll  get  full  relief  on  any  gain  made  by  you,  so  long  as  the  disposal  is  on  or  after  1  January  2018,  providing  you  owned  the  land  or  building  for  at  least  4  years  and  up  to  7  years.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"cgt-clearance-certificate-cg50a\">CGT  Clearance  Certificate  (CG50A)<\/h3>\n<p><strong>You  require  a  CG50A  certificate  if:<\/strong><\/p>\n<p>You  sell  an  asset  on  or  after  25  March  2002  for  over  \u20ac500,000.<\/p>\n<p>You  sell  a  house  or  apartment  on  or  after  1  January  2016  for  over  \u20ac1  million.<\/p>\n<p>Exemptions  from  Capital  Gains  Tax<\/p>\n<p>If  you  only  like  to  dabble  in  investments,  the  good  news  is  that  the<strong>\u00a0first  \u20ac1,270\u00a0<\/strong>of  taxable  gains  in  a  tax  year  are  exempt  from  CGT.  If  you  are  married  or  in  a  civil  partnership  this  exemption  is  available  to  each  spouse  or  civil  partner  but  is  not  transferable.<\/p>\n<p>Profits  made  on  the  disposal  of  some  assets  are  exempt  from  CGT.<\/p>\n<p>Examples  include:\n<\/p>\n<ul>\n<li>profit  on  the  disposal  of  property  owned  by  you  (house  or  apartment)  which  you  or  a  dependent  relative  occupied  as  a  sole  or  main  residence  (this  is  known  as  principal  private  residence  relief)<\/li>\n<li>betting,  lotteries,  sweepstakes,  bonuses  payable  under  the  National  Instalments  Savings  Scheme  and  Prize  Bond  winnings  are  all  exempt  from  CGT<\/li>\n<li>transfers  of  assets  between  spouses  and  civil  partners.  Transfers  of  assets  between  spouses  and  civil  partners  who  are  separated  are  also  exempt  if  they  are  made  under  a  Separation  Agreement  or  a  court  order<\/li>\n<li>the  transfer  of  a  site  from  parent  to  child  for  the  purposes  of  constructing  the  child&#8217;s  own  private  residence,  where  the  site&#8217;s  market  value  does  not  exceed  \u20ac500,000,  is  also  exempt  from  CGT<\/li>\n<li>no  CGT  is  due  on  assets  transferred  at  death.  When  the  person  who  acquired  the  assets  comes  to  dispose  of  them  they  are  treated  as  if  they  had  been  acquired  at  their  market  value  on  the  date  of  the  death<\/li>\n<li>profit  on  Government  Loans  and  Debenture  issued  by  certain  semi-state  bodies<\/li>\n<li>profit  on  disposal  of  wasting  chattels  (movable  goods)  for  example,  animals  and  private  motor  cars<\/li>\n<li>life  assurance  policies  (unless  purchased  from  another  person  or  taken  out  with  certain  foreign  insurers  on  or  after  20  May  1993)<\/li>\n<li>profits  made  by  individuals  on  tangible  moveable  property  worth  \u20ac2,540  or  less  at  the  time  of  disposal<\/li>\n<\/ul>\n<p>\n\u00a0\n<\/p>\n<h3 id=\"when-is-cgt-due\">When  is  CGT  due?<\/h3>\n<p>\nFor  CGT  purposes,  the  tax  year  is  divided  into  two  parts.\n<\/p>\n<ul>\n<li>Part  1  (&#8216;initial  period&#8217;)  &#8211;  1  January  to  30  November<\/li>\n<li>Part  2  (&#8216;later  period&#8217;)  &#8211;  1  December  to  31  December<\/li>\n<\/ul>\n<p>\nFor  disposals  in  the  initial  period  CGT  payments\u00a0<strong>are  due  by  15  December<\/strong>\u00a0in  the  same  tax  year.  CGT  for  disposals  in  the  later  period  are  due  by\u00a0<strong>31  January<\/strong>\u00a0in  the  following  tax  year.<\/p>\n<p>For  example,  if  George  disposes  of  his  shares  in  June  2023,  he  must  pay  the  CGT  due  to  Revenue  by  15  December  2023.  Had  George  held  on  to  his  shares  and  disposed  of  them  in  December  2023,  his  CGT  would  have  been  due  on  31  January  2024.<\/p>\n<p>If  you  do  not  pay  the  CGT  liability  by  the  due  date  or  if  the  tax  payment  is  less  than  the  required  amount,  interest  may  be  charged  on  the  outstanding  amount.\n<\/p>\n<h3 id=\"filing-of-capital-gains-tax-return\">Filing  of  Capital  Gains  Tax  return<\/h3>\n<p>\nYou  must  file  a  return  on  or  before  31  October  in  the  year  following  the  tax  year  in  which  you  disposed  of  the  asset.  There  are  a  number  of  different  CGT  return  forms:\n<\/p>\n<ul>\n<li>CG1  Form  \u2013  if  you  do  not  usually  submit  annual  tax  returns<\/li>\n<li>Form  12  \u2013  if  you  are  a  PAYE  worker<\/li>\n<li>Form  11  \u2013  if  you  are  regarded  as  a  &#8216;chargeable  person&#8217;<\/li>\n<\/ul>\n<p><strong>Note:<\/strong><\/p>\n<p>\u00a0Even  if  you&#8217;ve  made  a  loss  on  your  investment,  you&#8217;re  obliged  to  file  a  tax  return.<\/p>\n<p>Though  you  may  file  your  return  the  following  year,  you  must  pay  the  CGT  in  the  same  year  as  the  disposal  of  the  asset,  unless  you  dispose  of  the  asset  in  the  &#8216;later  period&#8217;  (as  above).<\/p>\n<p>Where  a  CGT  return  is  filed  after  the  required  deadline,  a  surcharge  will  be  imposed  by  Revenue:\n<\/p>\n<ul>\n<li>Where  a  late  return  is  filed  within  two  months  of  the  due  date,  a  surcharge  of  5%  of  the  tax  payable\/paid,  or  \u20ac12,695,  if  lower,  is  applied.<\/li>\n<li>Where  the  return  is  filed  more  than  two  months  late,  the  surcharge  is  10%  of  the  tax  payable\/paid,  or  \u20ac63,485,  if  lower.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"capital-acquisitions-tax-cat\">Capital  Acquisitions  Tax  (CAT)<\/h3>\n<p>\nIf  you  receive  a  gift  or  inheritance,  you  may  need  to  pay  a  &#8216;gift  tax&#8217;  on  it  called  Capital  Acquisitions  Tax.\u00a0You  may  receive  gifts  and  inheritances  up  to  a  set  value  over  your  lifetime  before  having  to  pay  CAT.  Once  due,  it  is  charged  at  the  current  rate  of  33%  (valid  from  6  December  2012).\n<\/p>\n<h4 id=\"when-do-i-need-to-pay-cat\">When  do  I  need  to  pay  CAT?<\/h4>\n<p>\nYou&#8217;ll  pay  CAT  if  a  gift  is  valued  over  a  certain  limit  and  various  thresholds  apply.  The  thresholds  are  dependent  on  the  relationship  between  you  (the  beneficiary)  and  the  gift  giver  (the  disponer).\n<\/p>\n<h4 id=\"exemptions-and-reliefs\">Exemptions  and  reliefs<\/h4>\n<p>\nThere  are  also  a  number  of  exemptions  and  reliefs  depending  on  the  type  of  gift  or  inheritance.  For  example,  if  you  receive  a  gift  or  inheritance  from  your  spouse\/civil  partner,  then  you&#8217;re  exempt  from  Capital  Acquisitions  Tax.<\/p>\n<p>Also,  the  tax  applies  to  property  in  Ireland  even  if  the  property  isn&#8217;t  in  Ireland  when  either  the  person  giving  the  benefit  or  the  person  receiving  it  are  resident  or  ordinarily  resident  in  Ireland  for  tax  purposes.<\/p>\n<p>A  number  of  different  thresholds  apply  for  gifts\/inheritance  on  or  after  12  October  2016.\n<\/p>\n<h4 id=\"capital-acquisitions-tax-thresholds\">Capital  Acquisitions  Tax  Thresholds<\/h4>\n<p><strong>Group  A:  \u20ac400,000<\/strong><\/p>\n<p>\nApplies  when  the  person  receiving  the  benefit  is  a  child  of  the  person  giving  it.  This  includes  a  stepchild  or  adopted  child.<\/p>\n<p><strong>Group  B:  \u20ac40,000<\/strong><br \/>\nApplies  where  the  beneficiary  is  a  brother,  sister,  niece,  nephew  or  lineal  ancestor  or  lineal  descendant  of  the  disponer.<\/p>\n<p><strong>Group  C:  \u20ac20,000<\/strong><br \/>\nAll  other  cases<\/p>\n<p><strong>Group  A<\/strong><\/p>\n<p>Applies  if  the  person  receiving  the  benefit  is  a\u00a0<strong>child  of  the  person  giving  it<\/strong>.<\/p>\n<p>This  includes  a  stepchild  or  adopted  child.  It  can  also  include  a  foster  child  if  the  child  resides  with  you  and  was  under  your  care  at  your  own  expense  for  a  period  or  periods  totaling  at  least  5  years  before  the  foster  child  became  18.<\/p>\n<p>This  minimum  period  doesn&#8217;t  apply  in  the  case  of  an  inheritance  taken  on  the  date  of  death  of  the  gift  giver  or  disponer.  In  this  case  the  Group  A  threshold  will  apply  provided  that  the  foster  child  was  placed  in  the  care  of  the  disponer  prior  to  that  date.<\/p>\n<p>Group  A  also  applies  to  parents  who  take  an  inheritance  from  their  child  but  only  where  the  parent  takes  full  and  complete  ownership  of  the  inheritance.  If  a  parent  doesn&#8217;t  have  full  and  complete  ownership  of  the  benefit,  or  if  a  parent  receives  a  gift,  Group  B  will  apply.<\/p>\n<p><strong>Group  B<\/strong><\/p>\n<p>Applies  where  the  beneficiary  is  a:\n<\/p>\n<ul>\n<li><strong>Parent<\/strong>\u00a0(however  if  a  parent  inherits  from  their  child  with  full  and  complete  ownership  of  the  inheritance  then  it&#8217;s  exempt  from  tax  if  in  the  previous  5  years,  the  child  took  an  inheritance  or  gift  from  either  parent  that  wasn&#8217;t  exempt  from  Capital  Acquisitions  Tax.  In  this  case,  no  tax  needs  to  be  paid  even  if  the  inheritance  from  the  child  is  over  the  threshold).<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li><strong>Grandparent<\/strong>,\u00a0<strong>grandchild  or  great-grandchild<\/strong>\u00a0(If  a  grandchild  is  a  minor  (under  18  years  of  age)  and  takes  a  gift  or  inheritance  from  his  or  her  grandparent  Group  A  may  apply  if  the  grandchild&#8217;s  parent  is  deceased).<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li><strong>Brother  or  sister,  and  nephew  or  niece\u00a0<\/strong>of  the  giver  (Group  A  may  apply  if  the  nephew  or  niece  has  worked  in  the  business  of  the  person  giving  the  benefit  for  the  previous  5  years  and  meets  the  following  criteria:<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">&#8211;  The  nephew  or  niece  is  a  blood  relation  rather  than  a  nephew  or  niece-in-law<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  The  gift  or  inheritance  consists  of  property  used  in  connection  with  the  business,  including  farming,  or  of  shares  in  the  company<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  If  the  gift  or  inheritance  consists  of  property  then  the  nephew  or  niece  must  work  more  than  24  hours  a  week  for  the  disponer  at  a  place  where  the  business  is  carried  on,  or  for  the  company  if  the  gift  or  inheritance  is  shared.  However  if  business  is  carried  onexclusively  by  the  disponer,  their  spouse  and  the  nephew  or  niece  then  the  requirement  is  that  the  nephew  or  niece  work  more  than  15  hours  a  week.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  doesn&#8217;t  apply  if  the  benefit  is  taken  under  a  discretionary  trust.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Group  C<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Applies  to\u00a0<strong>any  relationship  not  included  in  Group  A  or  Group  B<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  you  receive  a  benefit  from  a  relation  of  your  deceased  spouse  or  civil  partner,  you  can  be  assessed  in  the  same  group  as  your  spouse  or  civil  partner  would  have  been  if  they  were  receiving  a  benefit  from  their  relation.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  if  you  get  a  benefit  from  the  father  of  your  spouse\/civil  partner,  the  group  threshold  would  be  Group  C.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  receive  a  benefit  from  the  father  of  your  spouse\/civil  partner  and  your  spouse\/civil  partner  is  deceased,  then  the  group  threshold  would  be  the  same  as  for  a  child  receiving  a  benefit  from  a  parent  (Group  A).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Valuation<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  valuation  is  the  day  that  the  market  value  of  the  property  comprising  the  gift\/inheritance  is  established.  In  the  case  of  a  gift,  the  valuation  date  is  normally  the  date  of  the  gift.<\/p>\n<p  style=\"font-weight:  400;\">If  it&#8217;s  an  inheritance,  the  valuation  date  is  normally  the  earliest  of  the  following  dates:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Date  the  inheritance  can  be  set  aside  for  or  given  to  the  beneficiary<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Date  it&#8217;s  actually  retained  for  the  benefit  of  the  beneficiary<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Date  it&#8217;s  transferred  or  paid  over  to  the  beneficiary<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  valuation  date  is  typically  the  date  of  death  in  the  following  circumstances:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Gift  made  in  contemplation  of  death<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Where  a  power  of  revocation  hasn&#8217;t  been  exercised  &#8211;  This  could  happen  if  a  person  makes  a  gift  of  property  but  reserves  the  power  to  take  back  the  gift.  If  he  or  she  dies  and  this  power  ceases,  the  recipient  then  becomes  taxable  as  inheriting  the  benefit.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  the  beneficiary  had  free  use  of  the  benefit  before  this,  he  or  she  will  be  taxed  as  receiving  a  gift  of  the  value  of  the  use  of  the  property.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Taxable  value<\/strong><\/p>\n<p  style=\"font-weight:  400;\">A  gift  acquires  its  market  value  at  the  time  you  become  entitled  to  it.  The  value  that&#8217;s  taxable  is  then  the  market  value  after  following  deductions:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Any  liabilities<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Costs  and  expenses  that  are  properly  payable<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Including  debts  due  to  the  inheritance  or  gift-for  example,  funeral  expenses,  costs  of  administering  the  estate  or  debts  owed  by  the  deceased<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Stamp  duty,  legal  costs<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  make  a  payment  for  the  benefit  or  some  other  contribution  in  return  for  it,  this  may  be  deducted  and  is  known  as  a  &#8216;consideration&#8217;  and  could  be  a  part  payment  or  payment  of  debts  of  the  donor.<\/p>\n<p  style=\"font-weight:  400;\">If  you  don&#8217;t  get  full  ownership  but  instead  receive  a  benefit  for  a  limited  period,  then  a  number  of  factors  are  taken  into  account  to  calculate  the  value.<\/p>\n<h4 id=\"rates-2\"  style=\"font-weight:  400;\">Rates<\/h4>\n<p  style=\"font-weight:  400;\">Capital  Acquisitions  Tax  is  charged  at  33%  on  gifts  or  inheritances  made  on  or  after  6  December  2012  (the  rate  was  formerly  30%).<\/p>\n<p  style=\"font-weight:  400;\">This  only  applies  to  amounts  of  capital  gain  over  the  group  threshold.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Exemptions  from  CAT  include:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Gifts\/inheritances  from  a  spouse\/civil  partner<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Payments  or  compensation  for  damages<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Benefits  used  only  for  the  medical  expenses  of  permanently  incapacitated  person<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Benefits  taken  for  charitable  purposes  or  received  from  a  charity<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Lottery,  sweepstake,  game,  or  betting  winnings<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Retirement  benefits,  pension,  and  redundancy  payments  are  usually  not  liable<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  first  \u20ac3,000  of  the  total  value  of  all  gifts  received  from  one  person  in  any  calendar  year  is  exempt.  This  doesn&#8217;t  apply  to  inheritances.<\/p>\n<p  style=\"font-weight:  400;\">If  you  receive  a  gift  or  inherit  a  house  that  was  your  main  residence,  it  may  be  exempt  from  tax  if  you  don&#8217;t  own  or  have  an  interest  in  another  house,  however  there  are  conditions  on  how  long  you  should  be  resident  before  and  after  receiving  the  benefit.<\/p>\n<p  style=\"font-weight:  400;\">If  a  parent  receives  an  inheritance  from  his\/her  child  and  takes  complete  ownership  of  the  inheritance,  it&#8217;s  usually  taxable  under  Group  A.  However  it&#8217;s  exempt  if  in  the  previous  5  years,  the  child  took  an  inheritance  or  gift  from  either  parent  and  it  was  not  exempt  from  Capital  Acquisitions  Tax.<\/p>\n<p  style=\"font-weight:  400;\">Other  exemptions  relate  to  certain  Irish  Government  securities,  bankruptcy,  heritage  property,  and  support  of  a  child  or  spouse.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0CAT  cannot  be  declared  on  Form  11  or  Form  12.  If  you  are  liable  to  declare  gifts  or  inheritance  for  CAT,  you  must  do  so  on  a  Form  IT38.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"rental-income\">Rental  income<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10358  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland.jpg\" alt=\"rental  income  tax  refund  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/rental-income-tax-refund-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  earn  money  from  renting  out  a  property,  or  from  another  source  that  qualifies  as  rental  income,  it  is  taxable.  Property  includes  residential  property  and  commercial  property  \u2013  for  example  offices,  shops,  houses,  factory  land  and  more.  Rental  income  also  includes  the  receipt  of  premiums  for  the  granting  of  a  lease.<\/p>\n<p  style=\"font-weight:  400;\">The  total  amount  of  rental  income  earned  in  a  tax  year  is  liable  to  tax.  And  if  the  rental  income  is  earned  from  1  January  2024  to  31  December  2024  but  not  received  until  1  January  2025,  it  is  still  taxed  in  the  2024  tax  year.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Rental  income  includes<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>the  renting  out  of  a  house,  flat,  apartment,  office  or  farmland<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  you  receive  for  allowing  advertising  signs  or  communication  transmitters  to  be  put  up  on  your  property<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  you  receive  for  allowing  a  right  of  way  through  your  property<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  you  receive  for  allowing  sporting  rights  such  as  fishing  or  shooting  rights  on  your  property<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  you  receive  from  your  tenant  to  cover  the  cost  of  work  to  your  rental  property.  Your  tenant  must  not  be  required  to  pay  for  this  work  per  the  lease<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>certain  lease  premiums,  as  well  as  deemed  and  reverse  premiums<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>conacre  (a  system  of  letting  land,  formerly  in  small  patches  or  strips,  and  usually  for  tillage  (growth  of  corn  or  potatoes))  lettings<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>service  charges  for  services  connected  to  the  occupation  of  the  property<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  from  insurance  policies  that  cover  against  the  non-payment  of  rent<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>if  you  are  receiving  rental  income  from  a  foreign  property.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  must  declare  your  rental  income  on  your\u00a0<strong>annual  tax  return<\/strong>.  If  your  net  rental  income  is  less  than  \u20ac5,000  (and  your  gross  rental  income  is  less  than  \u20ac30,000),  you  can  declare  it  through  your  Form  12.  If  your  net  rental  income  is  over  \u20ac5,000  (or  your  gross  rental  income  is  over  \u20ac30,000)  you  declare  your  rental  income  in  a  Form  11.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  a\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/ireland\/landlord-tax-return\/\">non-resident  landlord<\/a>\u00a0and  your  tenant  pays  rent  directly  to  you,  they  are  obliged  to  deduct  tax  from  the  rent  at  the  standard  rate  (20%)  and  account  for  this  to  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">You  are  entitled  to  a  credit  for  the  tax  deducted  by  your  tenant.  You  must  submit  a  Form  R185  with  your  tax  return  to  claim  this.  You  may  choose  to  use  the  services  of  a  tax  collection  agent  (who  collects  the  rent  and  files  your  income  tax  on  your  behalf).  If  your  tenant  pays  rent  to  an  Irish  based  estate  agent  acting  on  your  behalf,  the  tenant  is  not  obliged  or  entitled  to  deduct  income  tax.  The  Irish  agent  is  also  not  entitled  to  deduct  tax  from  the  rent  on  payment  to  the  landlord  but  can  retain  a  sufficient  portion  of  the  rents  to  satisfy  the  tax  payable  on  the  rents.  The  agent  should  not  issue  a  Form  R185  to  the  landlord.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Rental  Residential  Relief<\/strong><br \/>\nIn  Budget  2024  the  government  announced  a  new  tax  relief  for  landlords  against  rental  income  earned  from  residential  property  for  the  tax  years  2024  to  2027  inclusive.<\/p>\n<p  style=\"font-weight:  400;\">In  <strong  data-start=\"476\" data-end=\"491\">Budget  2026<\/strong>,  this  scheme  was  <strong  data-start=\"509\" data-end=\"542\">extended  to  the  2028  tax  year<\/strong>  and  the  relief  amounts  were  <strong  data-start=\"571\" data-end=\"584\">increased<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">This  relief  is  only  available  to  individual  landlords  for  tenancies  registered  with  the  Residential  Tenancies  Board  or  for  lettings  of  a  residential  property  to  a  public  authority.<br \/>\nThe  relief  will  reduce  the  tax  due  on  residential  rental  income  by  up  to:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac600  in  2024<\/li>\n<li>\u20ac800  in  2025<\/li>\n<li>\u20ac1,000  in  2026<\/li>\n<li>\u20ac1,000  in  2027<\/li>\n<li>\u20ac1,200  in  2028  (new  from  Budget  2026)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>If  you  make  a  rental  loss<\/strong><\/p>\n<p  style=\"font-weight:  400;\">When  your  rental  expenses  are  greater  than  your  rental  income,  this  is  referred  to  as  making  a  rental  loss.  You  are  entitled  to  carry  forward  your  rental  losses  until  you  can  offset  them  against  a  rental  profit.  However,  you  can  only  offset  the  loss  against  Irish  rental  income.  You  must  use  capital  allowances  first  before  offsetting  the  rental  losses  you  brought  forward  from  an  earlier  year.<\/p>\n<p  style=\"font-weight:  400;\">You  can&#8217;t  offset  rental  losses  made  by  your  spouse  or  civil  partner  against  your  own  rental  profits.<\/p>\n<p  style=\"font-weight:  400;\">You  also  can&#8217;t  offset  rental  losses  against  other  income  or  carry  them  back  to  a  previous  year.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"rent-a-room-relief\">Rent-a-room  relief<\/h3>\n<p  style=\"font-weight:  400;\">If  you  rent  out  a  room  or  rooms  in  your  sole  or  main  residence  as  residential  accommodation  you  may  qualify  for  rent-a-room  relief.  This  will  mean  that  the  rental  income  you  earn  will  be  exempt  from  income  tax.<\/p>\n<p  style=\"font-weight:  400;\"><strong>To  be  eligible  you  must<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Only  claim  relief  on  income  earned  from  occupants  who  use  the  room  on  a  long  term  basis<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Not  claim  relief  on  income  earned  from  short-term  guest  arrangements<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">(If  you  normally  rent  out  the  room  for  the  academic  year  and  you  rent  it  out  for  short  breaks  during  the  summer  as  well,  you  will  need  to  separate  this  income  and  only  declare  the  eligible  income  to  Revenue  for  rent-a-room  relief)<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Not  earn  more  than  \u20ac14,000  in  rental  income  in  the  tax  year<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Not  deduct  expenses  from  your  rental  income  while  claiming  rent-a-room  relief  (it  may  be  worth  your  while  to  opt  out  of  the  relief  in  a  particular  year  in  order  to  offset  expenses  against  the  rental  income  and  avail  of  wear  and  tear  allowances)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">For  example,  Frank  rents  out  a  room  in  his  home  to  Steve  for  two  college  semesters  during  the  tax  year.  He  earns  \u20ac1,000  per  month  (excluding  the  summer  months  of  June,  July  &amp;  August)  in  rental  income  \u2013  a  total  of  \u20ac9,000.  This  income  qualifies  for  rent-a-room  relief  and  Frank  will  not  have  to  pay  income  tax  on  the  earnings.<\/p>\n<p  style=\"font-weight:  400;\">During  the  summer  months,  Frank  also  rents  out  the  room  to  tourists  to  earn  some  additional  income.  He  earns  \u20ac2,000  from  these  lettings.  As  this  money  was  earned  from  short-term  rentals,  it  does  not  qualify  for  rent-a-room  relief  and  income  tax  will  be  due.<\/p>\n<h3 id=\"foreign-rental-income\"  style=\"font-weight:  400;\">Foreign  rental  income<\/h3>\n<p  style=\"font-weight:  400;\">Foreign  rental  income  is  considered  to  be  income  earned  from  rent  of  property  (commercial  or  residential)  aboard.<\/p>\n<p  style=\"font-weight:  400;\">Your  domicile  (generally  the  country  that  is  your  permanent  home)  will  likely  affect  how  your  foreign-sourced  income  is  taxed  in  Ireland.  A  person  who  is  resident  and  domiciled  in  Ireland  must  pay  tax  in  Ireland  on  their  worldwide  income.<\/p>\n<p  style=\"font-weight:  400;\">Someone  who  is  not  domiciled  in  Ireland  only  pays  Irish  tax  on  the  foreign  rental  income  that  they  bring  into  Ireland.  This  is  known  as  the  &#8216;remittance  basis&#8217;  (for  funds  you  send  to  Ireland  from  abroad  via  wire,  mail,  or  online  transfer)  of  taxation.  On  the  remittance  basis,  you  are  taxed  on  the  full  amount  of  rental  income  that  you  remit  and  no  deductions  are  eligible  against  the  amount.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"blogging\">Blogging<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10359  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland.jpg\" alt=\"blogging  and  tax  refund  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-tax-refund-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  operate  a  blog,  and  earn  income  (including  payments  for  sponsored  content  and  banner  adverts  etc.)  from  it,  you  will  need  to\u00a0<strong>declare  this  money  for  tax  purposes<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">The  correct  tax  return  to  file  depends  on  your  level  of  income.<\/p>\n<p  style=\"font-weight:  400;\">If  your  net  taxable  income  is  less  than  \u20ac5,000  and  your  gross  non-PAYE  income  is  less  than  \u20ac30,000  in  any  given  year,  you  must  file  a  Form  12.  Meanwhile,  if  your  net  taxable  income  is  over  \u20ac5,000  in  total  or  your  gross  non-PAYE  income  is  over  \u20ac30,000  then  you&#8217;ll  need  to  register  as  a  sole  trader  using  a  TR1  Form.  As  well  as  completing  a  TR1  form  you  must  file  a  Form  11  each  year  and  state  your  income  earned  and  pay  the  due  tax.<\/p>\n<h3 id=\"the-sharing-economy\">The  Sharing  Economy<\/h3>\n<p  style=\"font-weight:  400;\">If  you  earn  money  through  the  sharing  economy  \u2013  for  example  by  renting  out  a  spare  room  on  Airbnb  or  delivering  food  with  Deliveroo  &#8211;  you  will  need  to  declare  this  revenue  for  tax  even  if  it  is  not  your  main  source  of  income.<\/p>\n<p  style=\"font-weight:  400;\">Your  tax  obligations\u00a0<strong>will  differ  depending  on  whether  you  have  earned  more  or  less  than  \u20ac5,000  in  a  year<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  income  is  more  than  \u20ac5,000  or  your  gross  non-PAYE  income  is  over  \u20ac30,000  a  year  you  will  need  to  register  as  a  self-assessed  individual  with  Revenue  by  completing  a  TR1  form  (you  will  only  need  to  do  this  once).  You&#8217;ll  then  need  to  file  a  Form  11  tax  return  and  make  a  tax  payment  by  31  October  each  year  for  the  previous  year&#8217;s  earnings.<\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  income  is  less  than  \u20ac5,000  a  year  and  your  gross  non-PAYE  income  is  less  than  \u20ac30,000,  Form  12  is  the  correct  option  to  file.  Similarly  to  Form  11,  your  earnings  from  the  previous  year  will  be  relevant  when  completing  a  Form  12.<\/p>\n<p  style=\"font-weight:  400;\">If  you  have  income  from  providing  accommodation  to  occasional  visitors  for  short  periods.  For  example  &#8211;  you  may  provide  the  accommodation  through  an  online  accommodation  booking  site.<\/p>\n<p  style=\"font-weight:  400;\">This  income  is  not  considered  rental  income.  This  is  because  the  visitors  use  the  accommodation  as  guests,  rather  than  as  tenants.  Income  from  providing  short  term  guest  accommodation  is  taxable  as  either  other  income  where  the  income  is  occasional  in  nature  or  as  trading  income  where  you  are  trading  as  an  ongoing  business,  such  as  a  bed  and  breakfast  or  a  guesthouse.<\/p>\n<p  style=\"font-weight:  400;\">Again,  you  must  declare  this  income  to  Revenue  under  the  appropriate  category  using  either  Form  12  or  Form  11.<\/p>\n<p style=\"text-align: center;\"><strong>Have you earned income through Airbnb?<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/en\/return\/airbnb\/\"; target =\"_blank\" rel=\"noopener\";>File your tax return the easy way<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"cryptocurrency-investments\">Cryptocurrency  &amp;  Investments<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10360  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland.jpg\" alt=\"investments  and  tax  refunds  ireland\" width=\"824\" height=\"550\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland-768x513.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland-380x254.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/investments-and-tax-refunds-ireland-800x534.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Simply  put,  a  cryptocurrency  is  an  online  currency.  An  investment  in  cryptocurrency  is  looked  upon  by  Revenue  in  the  same  manner  that  an  investment  in  any  other  currency,  stock  or  share  would  be.  If  you  are  making  a  profit  through  the  disposal  (selling,  gifting  or  exchanging  your  asset)  of  your  cryptocurrency,  you  will  need  to  declare  it  to  Revenue  for\u00a0<strong>Capital  Gains  Tax  (CGT)<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Fortunately,  the  first  \u20ac1,270  of  your  cumulative  annual  gains  (after  deducting  expenses  and  losses  from  other  cryptocurrency  investments  \u2013  further  details  below)  is  exempt  from  tax.  But,  any  profit  that  you  make  above  this  figure\u00a0<strong>will  be  taxed  at  33%<\/strong>\u00a0and  you  will  need  to  file  a  tax  return  each  year.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  self-employed,  you  can  include  your  CGT  liability  on  your  Form  11.  If  you  make  a  disposal  between  1  January  and  30  November  you  must  pay  CGT  by  15  December  of  the  same  year.  And,  if  you  make  a  disposal  between  1  \u2013  31  December,  you  will  have  to  pay  your  CGT  by  31  January  of  the  following  year.<\/p>\n<p  style=\"font-weight:  400;\">Every  single  gain  you  make  from  a  cryptocurrency  disposal  must  be  declared  to  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">Many  cryptocurrencies,  such  as  Bitcoin,  are  traded  on  a  number  of  exchanges.  Unlike  shares  or  commodities  the  value  of  the  cryptocurrencies  may  vary  between  exchanges.  Therefore,  here  isn&#8217;t  always  a  single  \u201cexchange  rate\u201d  for  cryptocurrencies.  A  reasonable  effort  should  be  made  to  use  an  appropriate  evaluation  for  the  transaction  in  question.<\/p>\n<h3 id=\"the-direct-taxes-are-corporation-tax-income-tax-and-capital-gains-tax\"  style=\"font-weight:  400;\">The  direct  taxes  are  corporation  tax,  income  tax  and  capital  gains  tax<\/h3>\n<p  style=\"font-weight:  400;\">The  profits  and  losses  of  a  non-incorporated  business  on  cryptocurrency  transactions  must  be  reflected  in  their  accounts  and  will  be  taxable  on  normal  IT  rules.<\/p>\n<p  style=\"font-weight:  400;\">The  profits  and  losses  of  a  company  entering  into  transactions  involving  cryptocurrency  would  be  reflected  in  accounts  and  taxable  under  normal  CT  rules.<\/p>\n<p  style=\"font-weight:  400;\">If  a  profit  or  loss  on  a  currency  contract  is  not  within  trading  profits,  it  would  normally  be  taxable  as  a  chargeable  gain  or  allowable  as  a  loss  for  CT  or  CGT  purposes.  Gains  and  losses  incurred  on  cryptocurrencies  are  chargeable  or  allowable  for  CGT  if  they  accrue  to  an  individual  or,  for  CT  on  chargeable  gains  if  they  accrue  to  a  company  PAYE  treatment  of  cryptocurrencies.<\/p>\n<p  style=\"font-weight:  400;\">Where  emoluments  payable  to  an  employee  are  paid  in  a  cryptocurrency,  the  value  of  the  emoluments  for  the  purposes  of  calculating  payroll  taxes  is  the  Euro  amount  attached  to  the  cryptocurrency  at  the  time  the  payment  is  made  to  the  employee.<\/p>\n<p  style=\"font-weight:  400;\">Returns  to  Revenue  must  be  shown  in  Euro  amounts  and  remittances  made  appropriately.<\/p>\n<h2 id=\"deposit-interest-retention-tax\">Deposit  Interest  Retention  Tax<\/h2>\n<p  style=\"font-weight:  400;\">If  you  are  an  Irish  resident  and  you  make  an\u00a0<strong>investment  in  a  deposit  account<\/strong>\u00a0(with  any  Irish  bank,  building  society,  post  office  or  credit  union),  the  interest  that  is  paid  on  your  investment  is  taxed  at  source.<\/p>\n<p  style=\"font-weight:  400;\">The  tax  deducted  by  the  bank  is  referred  to  as  Deposit  Interest  Retention  Tax  (DIRT).  The  current  rate  is  33%.<\/p>\n<p  style=\"font-weight:  400;\">The  DIRT  withheld  by  the  bank  satisfies  the  full  requirement  to  pay  income  tax.  Deposit  interest  is  not  liable  to  USC,  although  it  may  be  liable  to  PRSI.<\/p>\n<p  style=\"font-weight:  400;\">If  you  or  your  spouse\/civil  partner  are  65  or  if  you&#8217;re  permanently  incapacitated,  you  may  not  be  liable  for  DIRT  if  you&#8217;re  exempt  from  income  tax.<\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  exempt  from  DIRT,  you  should  contact  your  financial  institution  to  ensure  your  interest  is  paid  without  a  DIRT  deduction.<\/p>\n<p  style=\"font-weight:  400;\">You  must  include  the  gross  deposit  interest  you  received  in  your  tax  return.  A  credit  for  DIRT  withheld  will  then  be  allowed  against  your  income  tax  liability.<\/p>\n<p  style=\"font-weight:  400;\">DIRT  is  not  charged  on  interest  from  the  accounts  of:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>individuals  who  are  not  resident  in  Ireland  and  who  do  not  pay  tax  in  Ireland.  Although,  a  joint  account  owned  by  an  Irish  resident  and  a  foreign  resident  is  subject  to  DIRT<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>companies  that  pay  Corporation  Tax<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Revenue-approved  pension  schemes<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>charities<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Interest  from  accounts  in  other  European  Union  (EU)  Member  States  and  from  non-EU  countries<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  receive  interest  from  an  account  in  another  EU  Member  State,  you  must  pay  the  current  rate  of  DIRT  on  the  interest  income.  You  must  include  the  details  of  this  on  your  annual  tax  return.  The  income  will  be  subject  to  a  higher  rate  of  40%  tax  if  it  is  not  returned  on  time.<\/p>\n<p  style=\"font-weight:  400;\">Deposit  interest  from  non-EU  countries  will  be  taxed  at  the  current  DIRT  rate  if  you  are  a  standard  rate  taxpayer  and  have  made  a  timely  return.  However,  a  rate  of  40%  will  apply  if  you  are  a  higher  rate  taxpayer  or  if  you  have  not  made  a  return  of  this  income  on  time.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"first-time-buyers\"  style=\"font-weight:  400;\">First-time  buyers<\/h3>\n<p  style=\"font-weight:  400;\">If  you  are  a  first-time  buyer  you  can  apply  for  a\u00a0<strong>DIRT  refund<\/strong>.  New  schemes  have  been  introduced  to  help  first-time  buyers  with  the  cost  of  buying  or  building  their  first  home.  These  schemes  are  the:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>DIRT  First-Time  Buyers<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Help  To  Buy  (HTB)  incentive<\/li>\n<\/ul>\n<h3 id=\"non-resident-account-holder\"  style=\"font-weight:  400;\">Non-resident  account  holder<\/h3>\n<p  style=\"font-weight:  400;\">If  you  are  not  a  resident  in  Ireland  for  tax  and  Ireland  has  a  double  taxation  agreement  with  the  country  you  are  resident  in,  you  may  claim  a  refund  of  some  or  all  of  the  Deposit  Interest  Retention  Tax  (DIRT)  that  you  paid.  You  should  complete  a  Form  IC5  to  claim  a  refund.<\/p>\n<h3 id=\"dividend-income-from-irish-companies\"  style=\"font-weight:  400;\">Dividend  income  from  Irish  companies<\/h3>\n<p  style=\"font-weight:  400;\">All  companies  resident  in  Ireland  must  deduct  Dividend  Withholding  Tax  (DWT)  at  25%  from  the  gross  dividend  paid  (there  are  some  exceptions).  The  Irish  resident  company  paying  the  dividend  is  obliged  to  pay  the  DWT  to  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  in  receipt  of  dividend  income  from  an  Irish  resident  company,  you  should  file  a  tax  return  and  declare  the  gross  amount  of  the  dividend  received.  You  are  entitled  to  a  credit  for  the  DWT  against  your  total  income  tax  liability.<\/p>\n<p>\n\u00a0\n<\/p>\n<h3 id=\"foreign-dividend-income\"  style=\"font-weight:  400;\">Foreign  dividend  income<\/h3>\n<p  style=\"font-weight:  400;\">An  Irish  resident  is,  subject  to  some  exceptions,  liable  to  income  tax  in  respect  of  his\/her  worldwide  income.  In  some  cases,  part  of  that  individual&#8217;s  income  may  also  be  subject  to  tax  in  another  country.<\/p>\n<p  style=\"font-weight:  400;\">If  you  have  had  foreign  tax  taken  off  dividend  income  that  is  also  taxable  in  Ireland,  you  may  be  able  to  claim  a\u00a0<strong>Foreign  Tax  Credit<\/strong>.  You  can  claim  Foreign  Tax  Credit  for  all  or  part  of  the  foreign  tax  you  paid  depending  on  whether  or  not  Ireland  has  a  Double  Taxation  Treaty  with  the  country  from  which  the  dividend  is  received.  You  can  only  claim  Foreign  Tax  Credit  if  a  double  taxation  agreement  allows  both  countries  to  tax  the  same  item  of  income.  If  there  is  no  double  taxation  agreement  in  place  between  Ireland  and  that  country,  a  unilateral  relief  can  be  claimed.<\/p>\n<p  style=\"font-weight:  400;\">Sometimes  dividends  received  from  foreign  countries  will  suffer  an  Irish  tax  deduction  on  encashment.  If  this  applies  you  will  get  a  full  credit  against  your  Irish  tax  for  this  deduction.  If  you  do  not  owe  tax  you  will  get  a  refund  of  the  Irish  tax  deducted.<\/p>\n<h2 id=\"preliminary-tax-2\">Preliminary  tax<\/h2>\n<p  style=\"font-weight:  400;\">When  filing  a  self-assessed  tax  return,  it  is  normal  to  pay  income  tax  based  on  the  previous  year&#8217;s  earnings  (i.e.  tax  on  income  earned  in  2023  is  paid  by  31  October  2024).  Aside  from  your  income  tax  liability,  you  will  also  have  to  pay  Preliminary  tax.<\/p>\n<p  style=\"font-weight:  400;\">Preliminary  tax  is  an  estimate  of  the  income  tax,  Pay  Related  Social  Insurance  (PRSI)  and  Universal  Social  Charge  (USC)  that  you  expect  to  pay  for  a  tax  year.<\/p>\n<p  style=\"font-weight:  400;\">You  calculate  preliminary  tax  by  choosing  one  of  the  following:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>90%  of  the  tax  due  for  that  year<\/li>\n<li>100%  of  the  tax  due  for  the  preceding  year<\/li>\n<li>105%  of  the  tax  due  for  the  pre-preceding  year  (this  option  only  applies  where  you  pay  by  direct  debit  &#8211;  it  does  not  apply  if  the  tax  due  for  the  pre-preceding  year  was  zero)<\/li>\n<\/ul>\n<p>\nIf  your  taxable  non-PAYE  income  is  less  than  \u20ac5,000  in  a  year  and  your  gross  income  from  non-PAYE  sources  is  less  than  \u20ac30,000  you  will  need  to  file  a  Form  12  income  tax  return.  It  will  not  be  necessary  to  pay  preliminary  tax  on  a  Form  12  tax  return.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"value-added-tax-vat\">Value  Added  Tax  (VAT)<\/h2>\n<p>\nYou  must  register  for\u00a0<strong>Value  Added  Tax  (VAT)<\/strong>\u00a0if  your  annual  turnover  is  more  than  (or  is  likely  to  be  more  than)  \u20ac80,000  for  supply  of  goods  or  \u20ac40,000  for  supply  of  services.<\/p>\n<p>As  a  trader  you  pay  VAT  on  goods  and  services  acquired  for  the  business  and  charge  VAT  on  goods  and  services  supplied  by  the  business.<\/p>\n<p>The  difference  between  the  VAT  charged  by  you  and  the  VAT  you  were  charged  must  be  paid  to  Revenue.<\/p>\n<p>If  the  amount  of  VAT  paid  by  you  exceeds  the  VAT  charged  by  you,  Revenue  will  repay  the  excess.  This  ensures  that  VAT  is  paid  by  the  customer  and  not  by  the  business.<\/p>\n<p>If  you  are  registered  for  VAT,  Revenue  will  send  you  a  form  VAT  3  which  must  be  returned  with  the  payment  not  later  than  a  specified  date.  Normally,  VAT  returns  are  made  every  2  months.  However,  special  arrangements  can  be  made  for  small  businesses  to  pay  at  less  frequent  intervals.\n<\/p>\n<h3 id=\"a-taxable-person\">A  taxable  person<\/h3>\n<p>\nA  taxable  person  is  any  person  who  independently  carries  on  a  business  in  the  European  Union  (EU)  or  elsewhere.  It  includes  persons  who  are  exempt  from  Value-Added  Tax  (VAT)  as  well  as  flat-rate  (unregistered)  farmers.\n<\/p>\n<h3 id=\"an-accountable-person\">An  accountable  person<\/h3>\n<p>\nA  person  who  is  required  to  charge  VAT  in  the  State  is  referred  to  as  an  accountable  person.  An  accountable  person  is  a  taxable  person  (for  example,  an  individual,  partnership,  company)  who:\n<\/p>\n<ul>\n<li>supplies  taxable  goods  or  services  in  the  State  and<\/li>\n<li>who  is,  or  is  required  to  be,  registered  for  VAT<\/li>\n<\/ul>\n<p>\nGenerally,  you  must  register  for  VAT  if  you  are  an<strong>\u00a0accountable  person<\/strong>\u00a0and  you  exceed  or  are  likely  to  exceed  the  relevant  VAT  thresholds.<\/p>\n<p>If  you  are  setting  up  a  business  but  you  are  yet  to  supply  taxable  goods  or  services,  you  should  register  for  VAT  as  soon  as  it  is  clear  that  you  will  become  an  accountable  person.<\/p>\n<p>Farmers,  sea  fishermen  and  traders  whose  turnover  is  below  the  VAT  thresholds  are  not  generally  obliged  to  register  for  VAT  but  may  do  so  if  they  wish.\n<\/p>\n<h3 id=\"vat-thresholds\">VAT  thresholds<\/h3>\n<p>\nValue-Added  Tax  (VAT)  registration  is  obligatory  when  the  VAT  thresholds  are  exceeded  or  are  likely  to  be  exceeded  in  any  12  month  period.  If  you  are  below  the  thresholds  you  may  elect  to  register  for  VAT.<\/p>\n<p>The\u00a0<strong>principal  thresholds<\/strong>\u00a0are  as  follows:\n<\/p>\n<ul>\n<li><strong>\u20ac40,000<\/strong>\u00a0&#8211;  supplying  services  only<\/li>\n<\/ul>\n<ul>\n<li><strong>\u20ac37,500<\/strong>\u00a0&#8211;  supplying  goods  liable  at  the  reduced  or  standard  rates  which  they  have  manufactured  or  produced  from  zero  rated  materials<\/li>\n<\/ul>\n<ul>\n<li><strong>\u20ac10,000<\/strong>\u00a0&#8211;  making  mail-order  or  distance  sales  into  the  State<\/li>\n<\/ul>\n<ul>\n<li><strong>\u20ac41,000<\/strong>\u00a0&#8211;  making  acquisitions  from  other  European  Union  Member  States<\/li>\n<\/ul>\n<ul>\n<li><strong>\u20ac80,000<\/strong>\u00a0&#8211;  supplying  goods<\/li>\n<\/ul>\n<ul>\n<li><strong>\u20ac80,000<\/strong>\u00a0&#8211;  supplying  both  goods  and  services  where  90%  or  more  of  the  turnover  is  derived  from  supplies  of  goods<\/li>\n<\/ul>\n<p>\nA  non-established  person  supplying  taxable  goods  or  services  in  the  State  is  obliged  to  register  and  account  for  VAT  irrespective  of  the  level  of  turnover.\n<\/p>\n<h3 id=\"exempt-persons\">Exempt  persons<\/h3>\n<p>\nExempt  persons  and  non-taxable  entities  that  acquire,  or  are  likely  to  acquire,  more  than  \u20ac41,000  worth  of  goods  from  other  Member  States  in  any  12  month  period  are  obliged  to  register  and  account  for  Value-Added  Tax  (VAT)  in  respect  of  the  acquisitions  from  other  European  Union  Member  States.<\/p>\n<p>You  may  not  reclaim  VAT  if  you  are  an  exempt  or  non-taxable  person.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"approved-and-unapproved-share-schemes\">Approved  and  unapproved  share  schemes<\/h3>\n<p>\nIf  you  are  employed  through  the  PAYE  system,  your  employers  may  offer  company  shares  (share  awards  or  share  options)  to  you,  for  example  as  a  reward.<\/p>\n<p>Share  schemes  can  be  both  approved  and  unapproved  in  nature.<\/p>\n<p>Examples  of\u00a0<strong>approved<\/strong>\u00a0schemes  include:\n<\/p>\n<h4 id=\"approved-profit-sharing-schemes-apss\">Approved  Profit  Sharing  Schemes  (APSS)<\/h4>\n<p>\nApproved  Profit  Sharing  Schemes  allow  employers  to  give  their  employee  shares  in  the  company  up  to  a  maximum  value  of  \u20ac12,700  per  year  tax-free.  However,  you  must  pay  USC  and  PRSI  on  the  value  of  the  shares.  Approved  Profit  Sharing  Schemes  are  subject  to  certain  conditions  set  out  in  legislation  and  administered  by  the  Revenue  Commissioners.<\/p>\n<p>In  Ireland,  employees  can  get  share  options  from  their  company  that  may  be  &#8216;tax  free&#8217;  or  &#8216;tax  efficient&#8217;.  There  are  2  main  ways:\n<\/p>\n<ul>\n<li>Approved  Profit  Sharing  Schemes<\/li>\n<li>Stock  Options<\/li>\n<\/ul>\n<p>\nIf  the  scheme  meets  certain  conditions,  an  employee  pays  no  tax  on  shares  up  to  a  maximum  value  of  \u20ac12,700  per  year.  The  employer  must  hold  the  shares  for  a  period  of  time  (called  the  &#8216;retention  period&#8217;  &#8211;  generally  two  years  from  the  date  on  which  they  were  appropriated)  and  the  employee  must  not  dispose  of  the  shares  before  3  years.<\/p>\n<p>If  you  dispose  of  shares  before  this  time,  then  you&#8217;re  liable  to  pay  income  tax  on  whichever  is  the  lower  of  the  following:<br \/>\nthe  market  value  of  the  shares  when  they  were  given  to  you<\/p>\n<p>or<\/p>\n<p>the  value  of  the  shares  at  the  time  of  sale\n<\/p>\n<h4 id=\"approved-savings-related-or-save-as-you-earn-saye-share-option-schemes\">Approved  savings  related  (or  Save  As  You  Earn  &#8211;  SAYE)  share  option  schemes<\/h4>\n<p>\nIf  your  employer  grants  you  share  options  under  an  approved  savings  related  share  option  scheme,  you&#8217;ll  be  exempt  from  IT  on  any  gain  you  make  when  you  exercise  the  options.  Provided  you  don&#8217;t  exercise  the  share  options  within  three  years  of  receiving  them.<\/p>\n<p>There  are  two  elements  to  this  scheme:<\/p>\n<p>&#8211;  Save  As  You  Earn  (SAYE)  &#8211;  a  certified  contractual  savings  scheme<\/p>\n<p>&#8211;  An  approved  savings-related  share  option  scheme.<\/p>\n<p>Participation  in  the  scheme  is  voluntary.  You  must  save  between  \u20ac12  and  \u20ac500  per  month.  You  decide  how  much  you  want  to  save.  Your  employer  may  offer  you  a  three,  five  or  seven  year  savings  contract.  They  will  then  deduct  the  savings  amount  from  your  net  salary  and  place  your  savings  on  deposit  with  an  approved  bank  or  savings  institution.<\/p>\n<p>Once  you  complete  the  savings  period,  you  can  decide  if  you  want  to  exercise  your  option  to  buy  the  shares.  The  amount  you  save  must  be  enough  to  buy  the  shares  at  the  option  price  set  by  your  employer.  Your  employer  sets  the  option  price  before  you  start  saving.  It  may  be  set  at  a  discount  of  up  to  25%  of  the  market  value  of  the  shares  at  the  date  of  grant  of  the  option.<\/p>\n<p>If  you  decide  not  to  exercise  your  option,  the  bank  or  savings  institution  will  return  your  savings  to  you.<\/p>\n<p>If  you  decide  to  exercise  your  option  at  the  end  of  the  savings  period,  you  will  not  have  to  pay  IT  on  any  gain  you  make.  However,  you  must  pay  USC  and  PRSI.<\/p>\n<p>Approved  Profit  Sharing  Schemes  are  subject  to  a  number  of  conditions  that  should  be  checked  with  the  Revenue  Commissioners.\n<\/p>\n<h4 id=\"unapproved-share-options\">Unapproved  share  options<\/h4>\n<p  style=\"font-weight:  400;\">A  share  option  is  a  right  that  your  employer  grants  you,  to  acquire  shares  in  the  company.  The  shares  may  be  at  no  cost  to  you  (nil  option)  or  at  a  pre-determined  price  your  employer  sets.  You  must  pay  Income  Tax  (IT)  on  any  gain  you  make  on  the  exercise,  assignment  or  release  of  a  share  option.<\/p>\n<p  style=\"font-weight:  400;\"><em>Capital  Gains  Tax  (CGT)  may  also  be  due  when  you  dispose  of  your  shares.<\/em><\/p>\n<p  style=\"font-weight:  400;\">There  are  two  types  of  share  options:<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  a  short  option,  which  must  be  exercised  within  seven  years  from  the  date  it  is  granted<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  a  long  option,  which  can  be  exercised  after  seven  years  from  the  date  it  is  granted.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Short  option<\/strong><\/p>\n<p  style=\"font-weight:  400;\">When  you  exercise  a  short  option,  you  pay  income  tax  on  any  gain  you  make.  The  amount  of  the  gain  is  the  difference  between  the  market  value  of  the  shares  when  you  buy  them  and  the  amount  you  paid  for  the  shares  (plus  any  amount  paid  for  the  grant  of  the  option).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Long  option<\/strong><\/p>\n<p  style=\"font-weight:  400;\">When  you  exercise  a  \u2018long  option\u2019,  you  may  have  to  pay  income  tax  on  the  grant  date  and  the  date  you  exercise  the  option.  You  will  only  pay  IT  if  the  option  price  is  less  than  the  market  value  of  the  shares  at  the  grant  date.  The  tax  is  due  on  the  difference  between  the  market  value  of  the  shares  on  the  grant  date  and  the  amount  you  pay  when  you  exercise  the  option.<\/p>\n<p  style=\"font-weight:  400;\">When  you  exercise  the  option,  the  tax  is  due  on  the  difference  between  the  market  value  of  the  shares  on  the  date  you  exercise  them  and  the  amount  you  paid  for  the  shares.<\/p>\n<p  style=\"font-weight:  400;\">Any  tax  you  pay  on  the  grant  of  the  option  will  be  offset  against  any  tax  due  when  you  exercise  the  option.<\/p>\n<p  style=\"font-weight:  400;\">Examples  on\u00a0<strong>unapproved<\/strong>\u00a0share  schemes  include:<\/p>\n<h4 id=\"free-shares\">Free  shares<\/h4>\n<p  style=\"font-weight:  400;\">You  can  receive  free  shares  under  a  formal  share  plan  or  a  once  off  award  as  a  benefit-in-kind  by  your  employer.  The  value  of  the  benefit  is  the  market  value  of  the  shares  at  the  date  of  the  award.<\/p>\n<p  style=\"font-weight:  400;\">The  shares  may  be  subject  to  a  vesting  period.  If  so,  the  value  of  the  benefit  is  the  market  value  of  the  shares  at  the  date  of  vesting.<\/p>\n<p  style=\"font-weight:  400;\">You  pay  Income  Tax  (IT),  Universal  Social  Charge  (USC)  and  Pay  Related  Social  Insurance  (PRSI)  through  the  PAYE  system.<\/p>\n<h4 id=\"discounted-shares\">Discounted  shares<\/h4>\n<p  style=\"font-weight:  400;\">Your  employer  may  give  you  the  opportunity  to  buy  shares  in  the  company  at  a  discounted  price.  The  discount  is  the  difference  between  the  market  value  of  the  shares  at  the  date  of  the  award  and  the  amount  you  pay  for  them.<\/p>\n<p  style=\"font-weight:  400;\">You  will  pay  IT,  USC  and  PRSI  on  the  discount  amount.  All  deductions  will  be  made  through  the  PAYE  System.<\/p>\n<h4 id=\"forfeitable-shares\"  style=\"font-weight:  400;\"><strong>Forfeitable  shares<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Your  employer  may  award  you  shares  that  are  subject  to  forfeiture.  For  example,  if  you  leave  the  company  or  fail  to  meet  expected  performance  conditions.  You  must  pay  IT,  USC  and  PRSI  on  the  market  value  of  any  free  shares  awarded,  or  on  the  value  of  discounted  shares.  You  will  be  charged  tax  on  the  date  the  shares  are  awarded  even  though  they  may  be  forfeited.  All  deductions  will  be  made  through  the  PAYE  System.<\/p>\n<p  style=\"font-weight:  400;\">If  the  shares  are  forfeited,  any  tax  charged  when  they  were  granted  will  be  reduced  to  nil.  You  will  receive  repayment  of  the  tax  overpaid.  You  must  submit  a  written  claim  for  repayment  to  your  Revenue  Office.  You  must  do  this  within  four  years  from  the  end  of  the  tax  year  in  which  the  shares  are  forfeited.<\/p>\n<h4 id=\"convertible-securities\">Convertible  securities<\/h4>\n<p  style=\"font-weight:  400;\">A  convertible  security  is  a  type  of  share  or  stock  that  can  be  converted  into  or  exchanged  for  another  type  of  share  or  stock.  In  this  scenario,  your  employer  will  award  you  convertible  securities.  You  must  pay  Income  Tax,  USC  and  PRSI  on  the  market  value  of  the  securities  at  the  date  you  received  them.  The  deductions  will  be  made  through  the  PAYE  system.<\/p>\n<p  style=\"font-weight:  400;\">A  further  Income  Tax  charge  may  also  arise  if  and  when  those  securities  are  converted  into  or  exchanged  for  other  securities.<\/p>\n<h4 id=\"restricted-stock-units-rsus\">Restricted  Stock  Units  (RSUs)<\/h4>\n<p  style=\"font-weight:  400;\">A  Restricted  Stock  Unit  is  a  grant  (or  promise)  to  you  by  your  employer.  On  completion  of  a  &#8216;vesting  period&#8217;,  you  will  receive  either  a  number  of  shares  in  the  company  or  the  cash  equivalent  of  shares.<\/p>\n<p  style=\"font-weight:  400;\">You  must  pay  IT,  USC  and  PRSI  either  on  the  market  value  of  these  shares  at  the  date  of  vesting  or  the  cash  payment  (if  you  receive  cash  equivalent).<\/p>\n<p  style=\"font-weight:  400;\">An  employer  needs  Revenue  approval  to  set  up  an  approved  scheme.  Under  approved  share  schemes,  your  employer  can  allocate  up  to  \u20ac12,700  in  tax-free  shares  to  you  annually.  The  shares  must  be  held  in  a  trust  set  up  by  your  employer.  If  you  leave  the  shares  in  the  trust  for  three  years  you  will  be  exempt  from  Income  Tax  (IT)  but  you  must  pay  Universal  Social  Charge  (USC)  and  Pay  Related  Social  Insurance  (PRSI)  on  the  value  of  the  shares.  If  you  sell  or  transfer  your  shares  before  the  end  of  the  three  years,  you  will  have  to  pay  IT  on  either  the  original  shares  value  or  the  shares  value  at  the  date  of  sale  or  transfer,  whichever  is  less.<\/p>\n<p  style=\"font-weight:  400;\">You  must  pay  IT,  USC  and  PRSI  on  shares  or  options  granted  under  unapproved  schemes.  Capital  Gains  Tax  (CGT)  may  also  be  due  when  you  dispose  of  your  shares.<\/p>\n<p  style=\"font-weight:  400;\">RTSO  is  due  on  the  exercise  of  unapproved  share  options.<\/p>\n<p  style=\"font-weight:  400;\">Your  employer  will  usually  make  the  necessary  deductions  from  share  awards  through  payroll  and  pay  the  tax  directly  to  Revenue.<\/p>\n<h4 id=\"espps\"  style=\"font-weight:  400;\"><strong>ESPPs<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">An  ESPP  is  a  way  for  employees  to  purchase  shares  in  their  company  through  payroll  deductions,  sometimes  at  a  discounted  price.  Once  you  have  enrolled  in  the  plan,  your  company  will  collect  your  payroll  contributions  to  purchase  the  shares  on  a  specific  date.<\/p>\n<p  style=\"font-weight:  400;\">There  is  normally  a  15%  discount  of  the  market  value  of  the  shares,  on  either  the  first  day  of  the  offer  period  or  the  last  day  of  the  offer  period.<\/p>\n<p  style=\"font-weight:  400;\">The  discount  is  applied  to  the  market  value  on  whichever  day  had  the  lower  value.  The  offer  period  is  normally  six  months.<\/p>\n<p  style=\"font-weight:  400;\">Generally,  there&#8217;ll  be  a  maximum  percentage  of  your  salary  that  you  can  invest  in  the  plan.  You  decide  how  much  net  salary  or  wages  you  wish  to  contribute  to  the  plan.  You  contribute  the  same  amount  each  month  for  a  six  month  period.  Your  contributions  are  held  on  your  behalf  by  the  company,  usually  in  a  non-interest  bearing  account.  At  the  end  of  the  six  months  the  contributions  are  used  to  purchase  shares  for  you.<\/p>\n<p  style=\"font-weight:  400;\">The  discount  allowed  by  the  company  is  chargeable  to  Income  Tax  as  a  benefit  derived  from  your  employment.  The  amount  chargeable  is  the  difference  between  the  market  value  of  the  shares  when  they  were  purchased  on  your  behalf  and  the  amount  you  pay  for  those  shares.<\/p>\n<p  style=\"font-weight:  400;\">You&#8217;ll  pay  Income  tax,  USC  and  Employee  PRSI  on  the  amount  of  the  discount.  All  deductions  will  be  through  payroll  under  the  PAYE  System.<\/p>\n<p  style=\"font-weight:  400;\">Some  ESPPs  may  be  drafted  in  such  a  manner  that  would  make  them  share  option  plans.  This  however,  will  depend  on  each  individual  plan.<\/p>\n<h3 id=\"relevant-tax-on-share-options-rtso\">Relevant  Tax  on  Share  Options  (RTSO)<\/h3>\n<p  style=\"font-weight:  400;\">A  share  option  is  a  right  that  your  employer  grants  you  to  acquire  shares  in  the  company.  Income  tax  will  be  due  on  any  gain  you  make  when  you  exercise,  assignment  or  release  the  share  option.<\/p>\n<p  style=\"font-weight:  400;\">The  tax  due  on  the  exercise  of  a  share  option  is  known  as  RTSO  and  this  will  be  due  within  30  days  of  exercising  the  options.  You  must  also  calculate  the  Universal  Social  Charge  (USC)  and  Pay  Related  Social  Insurance  (PRSI)  due.<\/p>\n<p  style=\"font-weight:  400;\">You  will  have  to  file  a  RTSO1  Form  when  making  your  payment  and  also  complete  a  Form  11  for  every  year  that  you  exercise  options.<\/p>\n<p  style=\"font-weight:  400;\">*RTSO  is  due  on  the  exercise  of  unapproved  share  options<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"professional-services-withholding-tax-pswt\">Professional  Services  Withholding  Tax  (PSWT)<\/h2>\n<p  style=\"font-weight:  400;\">Professional  Services  Withholding  Tax  (PSWT)  is  a  tax  on  payments  made  by  an  &#8216;accountable  person&#8217;  for  particular  professional  services  (provided  by  a  &#8216;specified  person&#8217;).<\/p>\n<p  style=\"font-weight:  400;\">An  accountable  person  must  deduct  PSWT  at  the  rate  of  20%  from  such  payments.<\/p>\n<p  style=\"font-weight:  400;\">Accountable  persons  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>government  departments<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>local  authorities<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Health  Service  Executive  (HSE)<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>authorised  health  insurers<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>commercial  and  non-commercial  semi-state  bodies<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>any  subsidiary  of  the  above  or  a  body  funded  by  any  of  the  above<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Professional  services  include:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>medical,  dental,  pharmaceutical,  optical,  aural  or  veterinary  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>architectural,  engineering,  quantity  surveying  or  surveying  nature,  and  related  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>accountancy,  auditing  or  finance  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>financial,  economic,  marketing  or  advertising  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>legal  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>geological  services<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Payments  excluded  from  PSWT<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Examples  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>payments  to  employees  taxed  through  Pay  As  You  Earn  (PAYE)<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  where  Relevant  Contracts  Tax  (RCT)  applies<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  between  accountable  persons<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  to  charities  that  have  an  Income  Tax  (IT)  exemption<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>payments  made  by  the  foreign  branch  or  agency  of  an  accountable  person.  Payments  must  be  made  abroad,  for  a  service  provided  abroad  by  a  service  provider  resident  abroad<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>inter  group  payments,  for  example  payments  between  subsidiaries  of  the  same  company,  or  from  a  parent  company  to  a  subsidiary.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Services  generally  excluded  from  PSWT  include:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>teaching,  training  or  lecturing  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>translation  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>proofreading  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>stenography  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>setting  and  assessing  oral,  aural  or  written  examinations<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>contract  cleaning  services<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>maintenance  and  repair  work.<\/li>\n<\/ul>\n<h4 id=\"pswt-tax-credit\">PSWT  tax  credit<\/h4>\n<p  style=\"font-weight:  400;\">If  you  are  providing  a  professional  service  to  a  state  or  semi-state  body,  PSWT  will  be  deducted  from  your  fee.  You  are  entitled  to  claim  the  tax  withheld  as  a  credit  against  your  Income  Tax  (IT)  or  Corporation  Tax  (CT)  in  that  tax  year.  You  must  also  include  the  gross  amount  of  tax  that  has  been  withheld  on  your  Form  11  or  Form  CT1  tax  return.<\/p>\n<h4 id=\"form-f45-proof-of-pswt-deducted\">Form  F45  &#8211;  Proof  of  PSWT  deducted<\/h4>\n<p  style=\"font-weight:  400;\">The  company  you  are  providing  a  service  to  should  provide  you  with  a  Form  F45  when  they  pay  you.  This  form  will  confirm  the  total  payment  and  the  amount  of  PSWT  that  has  been  deducted.<\/p>\n<p  style=\"font-weight:  400;\">To  complete  Form  F45,  the  company  will  need:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>your  Personal  Public  Services  Number  (PPSN)  if  you  are  registered  as  an  individual<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>your  Tax  Reference  Number,  if  you  are  registered  as  a  company<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>your  partnership&#8217;s  tax  number,  if  you  are  a  registered  partnership<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  are  non-resident,  you  must  also  provide  the  tax  reference  number  that  applies  in  your  country  of  residence.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"relevant-contracts-tax-rct\">Relevant  Contracts  Tax  (RCT)<\/h2>\n<p  style=\"font-weight:  400;\">RCT  is  a\u00a0<strong>withholding  tax<\/strong>\u00a0that  applies  to  certain  payments  by  principal  contractors  to  subcontractors  in  the  construction,  forestry  and  meat-processing  industries.<\/p>\n<h3 id=\"am-i-a-subcontractor\"  style=\"font-weight:  400;\"><strong>Am  I  a  subcontractor?<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">You  are  a  subcontractor  if  you  enter  into  a  relevant  contract  (not  a  contract  of  employment)  with  a  principal  contractor.<\/p>\n<p  style=\"font-weight:  400;\">You  will  have  to  supply  the  principal  contractor  with  a  number  of  details  that  are  required  in  order  to  register  the  relevant  contract  with  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">You&#8217;ll  need  to  provide  your  name  and  tax  reference  number  as  well  as  some  documents  which  act  as  proof  of  identity.  Examples  of  these  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>a  copy  of  your  passport<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>a  copy  of  your  driving  licence<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>details  of  your  tax  registration<\/li>\n<\/ul>\n<h3 id=\"rct-tax-rates\"  style=\"font-weight:  400;\"><strong>RCT  tax  rates<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">The  RCT  tax  rates  differ  depending  on  your  compliance  record  with  Revenue.  The  three  tax  rates  in  the  RCT  system  for  subcontractors  are:<\/p>\n<p  style=\"font-weight:  400;\"><strong>0%<\/strong>\u00a0&#8211;  for  an  up-to-date  tax  compliance  record<br \/>\n<strong>20%<\/strong>\u00a0&#8211;  a  substantially  up-to-date  tax  compliance  record<br \/>\n<strong>35%<\/strong>\u00a0&#8211;  a  poor  tax  compliance  record,  or  for  those  who  have  not  registered  with  Revenue<\/p>\n<p  style=\"font-weight:  400;\"><strong>RCT  credit<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Where  a  principal  contractor  deducts  tax  from  a  payment  to  a  subcontractor,  the  tax  will  be  treated  as  a  payment  on  account  by  the  subcontractor  of  income  tax  for  the  basis  year  in  which  the  tax  was  deducted.  Any  tax  deducted  is  also  available  for  offset  by  Revenue  against  any  other  tax  liabilities  of  the  subcontractor.<\/p>\n<p  style=\"font-weight:  400;\">In  effect,  this  means  that  you  are  entitled  to  claim  the  RCT  deducted  as  a  credit  against  your  Income  Tax  (IT)  or  against  other  tax  due  once  you  have  filed  your  tax  returns.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10361  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland.jpg\" alt=\"farming  tax  reliefs  ireland\" width=\"864\" height=\"160\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland.jpg 864w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland-300x56.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland-768x142.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland-380x70.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farming-tax-reliefs-ireland-800x148.jpg 800w\" sizes=\"auto, (max-width: 864px) 100vw, 864px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  are  a\u00a0<strong>self-employed  farmer<\/strong>,  your  personal  tax  liability  is  based  on  the<strong>\u00a0profits  you  earn<\/strong>\u00a0from  your  farm  business  and  on  any  other  income  that  you  have.  Like  all  self-employed  people,  you  are  responsible  for  making  your  own  assessment  of  tax  (income  tax,  USC  and  PRSI  etc.)  due  each  year  and  you  must  keep  accurate  records.<\/p>\n<p  style=\"font-weight:  400;\">You  are  entitled  to  the\u00a0<strong>Earned  Income  Tax  Credit  which  is  worth  \u20ac1,875<\/strong>.  This  credit  can  be  used  to  reduce  your  overall  tax  liability.<\/p>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  other  options  also  available  to  farmers  to  reduce  their  tax  liability.  These  include:<\/p>\n<h3 id=\"1-long-term-land-leasing\">1)  Long  term  land  leasing<\/h3>\n<p  style=\"font-weight:  400;\">Income  derived  from  leasing  land  on  a  long-term  lease  may  be  exempt  from  tax  up  to  certain  thresholds.  Leases  between  close  relatives  do  not  qualify  and  to  qualify  a  lease  must  have  a  definite  term  of  5  years  or  more.\u00a0Also,  your  farm  land  must  be  in  Ireland  and  the  tax  relief  cannot  operate  to  create  a  loss.<\/p>\n<p  style=\"font-weight:  400;\">The  profit  from  the  letting  of  the  farm  land  is  assessed  as  rental  income.  This  relief  is  given  as  a  reduction  (up  to  a  maximum  limit)  of  your  total  taxable  rental  income.  You  will  only  qualify  for  one  reduction  regardless  of  the  number  of  qualifying  leases  you  may  have.<\/p>\n<p  style=\"font-weight:  400;\">With  effect  from  1  January  2015  the  amount  of  income  that  may  be  exempted  under  a  qualifying  long  term  lease  is:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac40,000  where  all  the  qualifying  leases  are  for  15  years  or  more.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac30,000  where  all  the  qualifying  leases  are  for  10  years  or  more  but  less  than  15  years.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac22,500  where  all  the  qualifying  leases  are  for  7  years  or  more  but  less  than  10  years.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac18,000  where  all  the  qualifying  leases  are  for  5  years  or  more  but  less  than  7  years.<\/li>\n<\/ul>\n<h3 id=\"2-succession-farm-partnership-scheme\">2)  Succession  Farm  Partnership  Scheme<\/h3>\n<p  style=\"font-weight:  400;\">This  scheme  is  a  tax  incentive  where  a  farmer  and  their  successor  can  enter  an  approved  partnership  which  culminates  in  the  transfer  of  at  least  80%  of  the  farm  assets  to  the  successor.  The  scheme  provides  for  an  annual  tax  credit  worth  up  to  \u20ac5,000  per  annum  for  a  five-year  period.<\/p>\n<h3 id=\"3-income-averaging\">3)  Income  averaging<\/h3>\n<p  style=\"font-weight:  400;\">Income  averaging  allows  farmers  to  average  their  tax  liability  over  a  period  of  time.<\/p>\n<p  style=\"font-weight:  400;\">Instead  of  being  charged  tax  on  their  farming  profits  in  the  normal  way  \u2013  on  the  profits  of  a  12-month  period  ending  in  the  year  of  assessment  \u2013  individual,  full-time  farmers  may  elect  to  be  charged  on  the  basis  of  the  average  of  the  aggregate  farming  profits  and  losses  over  a  period  of  5  years  (this  period  was  3  years  before  1  January  2015).<\/p>\n<p  style=\"font-weight:  400;\">Farmers  who,  or  whose  spouses,  carry  on  another  trade  or  profession  or  who  are  directors  of  companies  which  carry  on  a  trade  or  profession  can&#8217;t  elect  for  income  averaging  unless  that  trade  is  in  relation  to  on-farm  diversification  and  conducted  on  the  farmland.<\/p>\n<p  style=\"font-weight:  400;\">In  2019,  the  income  averaging  regime  for  farmers  is  being  extended  to  include  farmers  who,  or  whose  spouses  or  civil  partners,  carry  on  another  trade  or  profession,  or  are  directors  of  a  company  carrying  on  a  trade  or  profession.<\/p>\n<h3 id=\"4-capital-acquisitions-tax-agricultural-relief\">4)  Capital  Acquisitions  Tax  &#8211;  Agricultural  Relief<\/h3>\n<p  style=\"font-weight:  400;\">The  standard  rate  of  Capital  Acquisitions  Tax  (CAT)  is  33%.  However,  CAT  Agricultural  relief  at  90%  is  available  in  respect  of  agricultural  property  gifted  to  or  inherited  by  active  farmers  and  to  individuals  who  are  not  active  farmers  but  who  lease  out  the  property  on  a  long-term  basis  for  agricultural  use  to  active  farmers.  In  other  words,  the  market  value  is  reduced  by  90%  for  tax  calculation  purposes.<\/p>\n<h4 id=\"additional-relief-should-be-added-farmer-stock-relief\"  style=\"font-weight:  400;\"><strong>Additional  relief  should  be  added  &#8216;Farmer  Stock  Relief&#8217;.<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  may  be  entitled  to  a  tax  deduction  in  respect  of  increases  in  the  value  of  your  farm  trading  stock.  Stock  Relief  is  calculated  by  the  increase  of  the  trading  stock  between  the  beginning  and  end  of  an  accounting  period.  The  relief  takes  the  form  of  a  deduction  from  farming  profits.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  for  farmers  is  being  extended  to  31  December  2021.  This  includes  the:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>25%  general  stock  relief<\/li>\n<li>50%  stock  relief  for  members  of  Registered  Farm  Partnerships<\/li>\n<li>100%  stock  relief  for  certain  Young  Trained  Farmers.<\/li>\n<\/ul>\n<h3 id=\"5-retirement-relief-from-capital-gains-tax\">5)  Retirement  Relief  from  Capital  Gains  Tax<\/h3>\n<p  style=\"font-weight:  400;\">Retirement  Relief  from  Capital  Gains  Tax  (CGT)  is  available  where  an  individual,  who  is  at  least  55  years  of  age  (with  some  exceptions  such  as  chronic  ill-health)  disposes,  by  way  of  sale  or  gift,  of  the  whole  or  part  of  his\/her  qualifying  assets.  The  amount  of  retirement  relief  from  CGT  available  is  dependent  on  whether  qualifying  assets  transferred  are  parent-to-child  transfers  or  transfers  other  than  to  a  child<\/p>\n<p  style=\"font-weight:  400;\"><strong>Transfers  to  a  child:<\/strong>\u00a0Full  relief  may  apply  to  farmers  who  are  over  55  years  of  age  and  who  owned  the  land  and  farmed  the  land\/assets  for  10  years  prior  to  disposal.  From  1  January  2014,  where  the  current  holder  is  aged  over  66  there  is  a  limit  of  \u20ac3m  on  the  total  value  of  the  asset  transferred  on  which  the  full  CGT  Retirement  relief  can  be  gained.  The  relief  can  be  reclaimed  if  the  child  disposes  of  the  asset  within  6  years  of  the  date  of  acquisition.<\/p>\n<p  style=\"font-weight:  400;\">An  exemption  from  CGT  is  also  available  for  the  disposal  of  a  site  from  a  parent  to  a  child  where  the  transfer  is  to  enable  the  child  to  construct  a  principal  private  residence  on  the  site.  The  market  value  of  the  site  must  not  exceed  \u20ac500,000  and  the  site  area  must  not  exceed  0.4  ha  or  1  acre.  If  the  child  subsequently  disposes  of  the  site  without  having  occupied  a  principal  private  residence  on  the  site  for  at  least  3  years,  then  the  capital  gain  which  would  have  accumulated  for  the  parent  on  the  initial  transfer  will  accrue  to  the  child  in  addition  to  his\/her  own  gain.  However,  a  gain  will  not  accrue  to  the  child  where  he  or  she  transfers  an  interest  in  the  site  to  a  spouse  or  civil  partner.  This  measure  is  available  to  both  farmers  and  non-farmers.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Transfers  other  than  to  a  child:<\/strong>\u00a0From  1  January  2014  where  the  disposal  consideration  does  not  exceed  \u20ac750,000,  relief  from  CGT  is  given  in  respect  of  the  full  amount  of  tax  chargeable  on  the  disposal  in  the  case  of  an  individual  aged  55  \u2013  65  years  of  age.  The  amount  of  full  relief  for  individuals  aged  66  years  or  more  is  capped  at  \u20ac500,000.  Where  the  thresholds  are  exceeded,  marginal  relief  applies  in  order  to  limit  the  amount  of  tax  chargeable  to  50%  of  the  difference  between  the  amount  of  the  disposal  consideration  and  \u20ac750,000\/\u20ac500,000  thresholds.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  available  is  a  lifetime  amount,  i.e.  not  per  sale.<\/p>\n<h3 id=\"6-farmer-stock-relief\"><strong>6)  Farmer  Stock  Relief<\/strong><\/h3>\n<h4 id=\"you-may-be-entitled-to-a-tax-deduction-in-respect-of-increases-in-the-value-of-your-farm-trading-stock\"  style=\"font-weight:  400;\"><strong>You  may  be  entitled  to  a  tax  deduction  in  respect  of  increases  in  the  value  of  your  farm  trading  stock.<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Stock  Relief  is  calculated  by  the  increase  of  the  trading  stock  between  the  beginning  and  the  end  of  an  accounting  period.  The  relief  takes  the  form  of  a  deduction  from  farming  profits.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"\"><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10362  size-full  aligncenter\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland.jpg\" alt=\"farmer  stock  relief  ireland\" width=\"864\" height=\"160\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland.jpg 864w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland-300x56.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland-768x142.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland-380x70.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/farmer-stock-relief-ireland-800x148.jpg 800w\" sizes=\"auto, (max-width: 864px) 100vw, 864px\" \/><\/h2>\n<h2 id=\"making-a-disclosure\">Making  a  disclosure<\/h2>\n<p  style=\"font-weight:  400;\">If  you  notice  that  you  have  made  an\u00a0<strong>error  on  your  tax  return<\/strong>,  it  is  advisable  to  contact  Revenue  as  soon  as  possible  to  make  an  unprompted  qualifying  disclosure.<\/p>\n<p  style=\"font-weight:  400;\">This  is  a  disclosure  that  you  enact  before  you  are  notified  of  an  audit  or  contacted  by  Revenue  regarding  an  inquiry  or  investigation.<\/p>\n<p  style=\"font-weight:  400;\">A  prompted  qualifying  disclosure  is  a  disclosure  made  after  you  have  received  notice  of  a  Revenue  audit.<\/p>\n<p  style=\"font-weight:  400;\">When  making  a\u00a0<strong>qualifying  disclosure<\/strong>,  you  should:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Give  all  relevant  information  about  the  issues  that  have  resulted  in  tax  being  due<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>State  the  amount  of  tax  and  interest  due  (the  current  rate  of  statutory  interest  applied  to  all  Irish  Judgment  debts  is  2%)  and  the  periods  for  which  they  are  due<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Send  this  to  Revenue  in  writing  and  sign  it<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Include  a  declaration  that  as  far  as  you  know  all  information  in  the  disclosure  is  correct  and  complete<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Include  a  payment  for  any  tax  or  duty,  and  interest  due  for  late  payment.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">It  is  also  likely  that  some\u00a0<strong>penalties<\/strong>\u00a0will  also  be  applied  to  any  proposed  settlement.  In  a  case  where  a  penalty  arises  the  amount  of  the  penalty  is  generally  determined  by  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">The  amount  of  the  penalty  will  depend  on  whether:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>your  disclosure  was  unprompted  or  prompted<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>the  additional  tax  due  is  above  \u20ac6,000<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>your  error  was  careless  or  deliberate<\/li>\n<li>you  cooperated  fully  during  the  process<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"-2\"><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10363  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-1024x576.png\" alt=\"income  tax  refund  ireland\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/income-tax-refund-ireland.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<h2 id=\"supplementing-your-income\">Supplementing  your  income<\/h2>\n<p  style=\"font-weight:  400;\">Every  year,  thousands  of  Irish  people  who  are  employed  in  the  PAYE  system  choose  to  supplement  their  income  by  earning  money  in  their  spare  time,  outside  their  usual  jobs.<\/p>\n<p  style=\"font-weight:  400;\">It  is  possible  to  do  this  in  a  vast  number  of  ways  &#8211;  from  investing  your  money  to  make  a  profit,  to  selling  goods  or  services  or  even  renting  out  a  room  in  your  home.<\/p>\n<p  style=\"font-weight:  400;\">However,  even  if  you  are  paying  tax  through  the  PAYE  system,  there  are  also  tax  implications  for  any  income  earned  outside  of  the  PAYE  system.<\/p>\n<p  style=\"font-weight:  400;\">Firstly,  if  your  taxable  non-PAYE  income\u00a0<strong>exceeds  \u20ac5,000<\/strong>,  or  your\u00a0<strong>gross  non-PAYE  income  exceeds  \u20ac30,000<\/strong>,  you  will  be  considered  a  &#8216;Chargeable  Person&#8217;  by  Revenue  and  will  need  to  register  for  self-assessment  and  file  a  Form  11  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  your  taxable  non-PAYE  income  in  a  year  does  not  exceed  \u20ac5,000  and  your  gross  non-PAYE  income  does  not  exceed  \u20ac30,000,  you  must  file  a  Form  12  tax  return.  This  is  the  most  common  tax  return  form  used  by  PAYE  earners.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"the-sharing-economy-2\">The  Sharing  Economy<\/h2>\n<p  style=\"font-weight:  400;\">Many  people  supplement  their  income  by  selling  goods  or  services  through  the  Sharing  Economy  in  their  spare  time  \u2013  for  example  renting  out  a  spare  room  on  Airbnb  or  delivering  food  with  Deliveroo.<\/p>\n<p  style=\"font-weight:  400;\">However,  even  if  this\u00a0<strong>isn&#8217;t  your  main  source  of  income<\/strong>,  it  is  still  taxable  and  you  will\u00a0<strong>need  to  declare  it  to  Revenue<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Your  tax  obligations  will  differ  depending  on  whether  you  have  earned  more  or  less  than  \u20ac5,000  in  a  year.<\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  income  is  more  than  \u20ac5,000  or  your  gross  non-PAYE  income  is  over  \u20ac30,000  a  year  you  will  need  to  register  as  a  self-assessed  individual  with  Revenue  by  completing  a  TR1  form  (<strong>you  will  only  need  to  do  this  once<\/strong>).  You&#8217;ll  then  need  to  file  a  Form  11  tax  return  and  make  a  tax  payment  by\u00a0<strong>31\u00a0October\u00a0<\/strong>each  year  for  the  previous  year&#8217;s  earnings.<\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  income  is  less  than  \u20ac5,000  a  year  and  your  gross  non-PAYE  income  is  less  than  \u20ac30,000,  Form  12  is  the  correct  option  to  file.  Similarly  to  Form  11,  your  earnings  from  the  previous  year  will  be  relevant  when  completing  a  Form  12.<\/p>\n<p  style=\"font-weight:  400;\">So,  if  you  started  delivering  food  for  Deliveroo  in  2023,  you  will  need  to  pay  tax  on  that  income  by\u00a0<strong>31  October  2024.<\/strong><\/p>\n<h4 id=\"income-from-providing-short-term-guest-accommodation-case-i-trading-income-and-case-iv-miscellaneous-income\">Income  from  providing  short  term  guest  accommodation  &#8211;  Case  I  &#8216;trading&#8217;  income  and  Case  IV  &#8216;miscellaneous&#8217;  income<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10364  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland.jpg\" alt=\"sharing  iconomy  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sharing-iconomy-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">You  may  have  income  from  providing  accommodation  to  occasional  visitors  for  short  periods.  For  example,  you  may  provide  the  accommodation  through  an  online  accommodation  booking  site  such  as  Airbnb.<\/p>\n<p  style=\"font-weight:  400;\">This  income  is\u00a0<strong>not  considered  to  be  rental  income<\/strong>.  This  is  because  the  visitors\u00a0<strong>use  the  accommodation  as  guests,  rather  than  as  tenants<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Airbnb  is  one  of  the  most  popular  options  for  Irish  people  who  are  looking  to  make  some  extra  cash.  But  regardless  of  the  number  of  times  you  rent  your  accommodation  to  a  guest,  keep  in  mind  that  tax  is  due  to  Revenue  on  all  income  received.<\/p>\n<p  style=\"font-weight:  400;\">However,  the  frequency  of  bookings  does  make  a  difference  to  the  type  of  tax  you&#8217;ll  have  to  pay  &#8211;  either  Case  I  &#8216;trading&#8217;  income  or  Case  IV  &#8216;miscellaneous&#8217;  income.<\/p>\n<p  style=\"font-weight:  400;\">Revenue  will  likely  consider  your  income  as  Case  I  &#8216;trading&#8217;  if:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>you  rent  out  the  room  or  property  on  6  or  more  occasions  annually<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>or  you  host  for  30  or  more  nights  in  a  year<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>or  your  Airbnb  income  exceeds  \u20ac5,000  in  a  year<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>or  the  property  is  available  for  occupancy  all  the  time<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  your  Airbnb  business  falls  under  Case  I  &#8216;trading&#8217;  then  you&#8217;ll  need  to  file  a  Form  11  tax  return  each  year.  Meanwhile,  if  your  Airbnb  income  falls  under  the  Case  IV  &#8216;miscellaneous&#8217;  category,  Form  12  is  the  correct  one  to  use.<\/p>\n<p  style=\"font-weight:  400;\">Similarly,  if  you  advertise  your  cleaning  skills  on  hassle.com  or  pet  minding  services  on  housemydog.com,  the  income  you  earn  is  not  taxed  through  the  PAYE  system.  Therefore  you&#8217;ll  be  required  to  file  either  a  Form  11  or  Form  12  tax  return  (depending  on  whether  you  have  earned  more  or  less  than  \u20ac5,000  in  the  year).<\/p>\n<p  style=\"text-align:  center;\"><strong>Have  you  earned  income  through  Airbnb?<\/strong><\/p>\n<p  style=\"text-align:  center;\"><a  style=\"padding:  15px;  text-align:  center;  border-radius:  30px;  font-size:  20px;  font-weight:  bold;  background-color:  #e74632;  color:  #fff;  margin:  25px  0px  25px  0px;\" href=\"https:\/\/www.taxback.com\/en\/partner\/ireland-sa-registration\/\" rel=\"noopener\">File  your  tax  return  the  easy  way<\/a><\/p>\n<h3 id=\"trading-goods-for-goods\">Trading  goods  for  goods<\/h3>\n<p  style=\"font-weight:  400;\">If  you&#8217;ve  traded  services  for  services  or  goods  for  goods,  you&#8217;ll  still  be  required  to  pay  tax.  Revenue  will  treat  the  service  or  goods  you  receive  as  a  cash  payment.  Therefore,  the  fair  market  value  of  any  goods  and  services  you  received  must  be  included  as  income  on  your  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">You  can  calculate  the  correct  value  by  assessing  the  open  market  value  of  the  goods.<\/p>\n<h2 id=\"blogging-2\">Blogging<\/h2>\n<p  style=\"font-weight:  400;\">Thousands  of  Irish  people  write  a  personal  blog  \u2013  some  as  a  hobby  and  some  to  make  money.  Even  if  blogging  is  not  your  primary  source  of  income,  if  you  earn  money  from  your  blog,  you  will  still  need  to  declare  it  for  tax.<\/p>\n<p  style=\"font-weight:  400;\">Any\u00a0<strong>payment  you  receive  for  your  blog  is  counted  by  Revenue  as  income<\/strong>\u00a0and  thus  taxable.  This  includes  payments  for  sponsored  content,  banner  ads  on  your  blog,  and  income  from  any  seminars  or  workshops  you  may  hold.<\/p>\n<p  style=\"font-weight:  400;\">If  your  net  taxable  income  is  less  than  \u20ac5,000  and  your  gross  non-PAYE  income  is  less  than  \u20ac30,000  in  any  given  year,  you  must  file  a  Form  12.  If  your  net  taxable  income  is  over  \u20ac5,000  in  total  or  your  gross  non-PAYE  income  is  over  \u20ac30,000  then  you&#8217;ll  need  to  register  using  a  TR1  Form,  which  is  a  tax  registration  form  for  sole  traders.  As  well  as  completing  a  TR1  form  you  must  file  a  Form  11  each  year  stating  the  income  earned  and  pay  due  tax.<\/p>\n<p  style=\"font-weight:  400;\">Many  bloggers  receive  gifts  from  businesses  who  are  looking  for  exposure  for  a  particular  product  or  service.  If  the  value  of  the  gifts  (material  items,  or  services)  given  by  a  single  person\/company  is  more  than  \u20ac3,000,  then  there  is  a  tax  implication  and  you  must  pay  the  tax  due.<\/p>\n<h2 id=\"cryptocurrency-investments-2\">Cryptocurrency  &amp;  Investments<\/h2>\n<p  style=\"font-weight:  400;\">Simply  put,  a  cryptocurrency  is  an  online  currency.  Bitcoin  and  Ethereum  are  some  of  the  most  notable  cryptocurrencies.  Like  any  type  of  currency,  cryptocurrencies  attract  investors  from  around  the  world  who  are  hoping  to  earn  a  profit.<\/p>\n<p  style=\"font-weight:  400;\">While  it  is  rare  that  you  will  find  the  Government  or  Revenue  recognising  or  even  discussing  cryptocurrency,  there  is  still  a  tax  obligation  for  anyone  who  invests  in  it.<\/p>\n<p  style=\"font-weight:  400;\">An  investment  in  cryptocurrency  is  looked  upon  by  Revenue  in  the  same  manner  that  an  investment  in  any  other  currency,  stock  or  share  would  be.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  making  a  profit  through  the  disposal  (selling,  gifting  or  exchanging  your  asset)  of  your  cryptocurrency,  you  will  need  to  declare  it  to  Revenue  for\u00a0<strong>Capital  Gains  Tax  (CGT)<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Fortunately,  the  first  \u20ac1,270  of  your  cumulative  annual  gains  (after  deducting  expenses  and  losses  from  other  cryptocurrency  investments  \u2013  further  details  below)  are  exempt  from  tax.  But,  any  profit  that  you  make  above  this  figure  will  be  taxed  at  33%  and  you  will  need  to  file  a  tax  return  each  year.<\/p>\n<p  style=\"font-weight:  400;\">You  may  still  need  to  file  a  tax  return  even  if  you  are  certain  no  tax  will  be  due  (because  of  reliefs  or  losses).<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  self-employed,  you  can  include  your  CGT  liability  on  your  Form  11.  If  you  make  a  disposal  between  1  January  and  30  November  you  must  pay  CGT  by  15  December  of  the  same  year.  And,  if  you  make  a  disposal  between  1  \u2013  31  December,  you  will  have  to  pay  your  CGT  by  31  January  of  the  following  year.<\/p>\n<p  style=\"font-weight:  400;\">It  is  advisable  to  keep  a  detailed  log  of  the  relevant  dates  and  values  for  each  investment  and  disposal  that  you  make.  The  more  detail  you  can  keep,  the  better.<\/p>\n<p  style=\"font-weight:  400;\">Revenue  will\u00a0<strong>require  a  number  of  details  about  your  investment<\/strong>\u00a0including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>description  of  asset<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>sales  proceeds<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>cost  of  acquisition<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Every  single  gain  you  make  from  a  cryptocurrency  disposal  must  be  declared  to  Revenue.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10365  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland.jpg\" alt=\"crypto  and  tax  refund  ireland\" width=\"1920\" height=\"965\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland.jpg 1920w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-300x151.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-768x386.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-1024x515.jpg 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-1536x772.jpg 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-380x191.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-800x402.jpg 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/crypto-and-tax-refund-ireland-1160x583.jpg 1160w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p  style=\"font-weight:  400;\"><strong>Making  a  loss<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Due  to  their  extremely  volatile  nature,  making  a  loss  from  your  cryptocurrency  investment  is  a  possibility.  Even  if  your  investment  results  in  a  loss,  you  will  still  need  to  file  a  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  if  you  have  made  an  investment  in  Bitcoin  which  resulted  in  losses,  and  a  separate  investment  in  the  same  year  in  Ethereum  which  earned  you  a  profit,  you  can  use  the  loss  from  the  Bitcoin  investment  to  offset  the  capital  gain  you  made  through  Ethereum.  You  can  also  use  losses  against  a  capital  gain  made  in  later  years.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Deductions<\/strong><\/p>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  allowable  deductions  that  can  be  made  to  reduce  a  cryptocurrency  tax  bill  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  cost  of  purchasing  the  asset<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>costs  (for  example,  fees  paid  by  you  to  a  solicitor  or  auctioneer)  when  you  acquired  and  disposed  of  the  asset<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>costs  associated  with  mining  the  cryptocurrency  (if  you  are  mining  cryptocurrency,  you  will  first  be  liable  to  pay  income  tax.  The  cost  of  the  asset  at  the  date  of  receipt  will  then  be  the  base  cost  for  CGT.  You  can  deduct  any  expenses  incurred  from  mining  such  as  the  cost  of  electricity  and  video  cards  etc)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  can  also  adjust  the  purchase  price  and  enhancement  expenditure  for  inflation.<\/p>\n<h4 id=\"exchanging-your-investment\">Exchanging  your  investment<\/h4>\n<p  style=\"font-weight:  400;\">You  will  still  need  to  pay  tax,  even  if  you  intend  to  gift  your  investment  to  another  person.  To  calculate  your  tax  liability  you  should  use  the  market  value  of  the  asset  at  the  date  the  gift  was  given.<\/p>\n<p  style=\"font-weight:  400;\">Also,  if  you  want  to  use  your  investment  to  pay  a  debt,  you  will  need  to  pay  tax  on  your  investment  before  it  is  transferred  to  the  creditor.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"foreign-income\">Foreign  income<\/h4>\n<p  style=\"font-weight:  400;\">If  you  are  in  receipt  of  foreign  income  you  should  also  determine  whether  or  not  it  is  taxable  in  Ireland.  Depending  on  your  residence  position  and  nationality  you  may  be  liable  to  income  tax  in  Ireland  on  your  foreign  income  and  you  may  be  obliged  to  file  a  tax  return.  You  should  report  it  in  the  &#8216;foreign&#8217;  section  of  your  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">Examples  of  foreign  income:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Dividends  received  from  foreign  companies<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Foreign  rental  income<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Foreign  deposit  interest<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Foreign  employments  where  the  duties  of  the  employment  are  exercised  outside  Ireland<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Other  foreign  investment  income<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  may  be  able  to  claim\u00a0<strong>Foreign  Tax  Credit<\/strong>\u00a0for  all  or  part  of  the  foreign  tax  you  paid  depending  on  whether  or  not  Ireland  has  a  Double  Taxation  Treaty  with  the  other  country.<\/p>\n<h2 id=\"foreign-rental-income-2\">Foreign  rental  income<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10366  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland.jpg\" alt=\"foreign  rental  income  tax  refund  ireland\" width=\"824\" height=\"547\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland-271x180.jpg 271w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland-300x199.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland-768x510.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland-380x252.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/foreign-rental-income-tax-refund-ireland-800x531.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Foreign  rental  income  is\u00a0<strong>considered  to  be  income  earned  from  rent  of  property<\/strong>\u00a0(commercial  or  residential)  abroad.<\/p>\n<p  style=\"font-weight:  400;\">Your  domicile  (generally  the  country  that  is  your  permanent  home)  will  likely  affect  how  your  foreign-sourced  income  is  taxed  in  Ireland.  A  person  who  is  resident  and  domiciled  in  Ireland  must  pay  tax  in  Ireland  on  their  worldwide  income.<\/p>\n<p  style=\"font-weight:  400;\">Someone  who  is  not  domiciled  in  Ireland  only  pays  Irish  tax  on  the  foreign  rental  income  that  they  bring  into  Ireland.  This  is  known  as  the  &#8216;remittance  basis&#8217;  (for  funds  you  send  to  Ireland  from  abroad  via  wire,  mail,  or  online  transfer)  of  taxation.  On  the  remittance  basis,  you  are  taxed  on  the  full  amount  of  rental  income  that  you  remit  and  no  deductions  are  eligible  against  the  amount.<\/p>\n<h3 id=\"calculating-your-taxable-foreign-rental-income\">Calculating  your  taxable  foreign  rental  income<\/h3>\n<p  style=\"font-weight:  400;\">Your  taxable  foreign  rental  income  is  the  foreign  rent  you  expect  to  receive  even  if  this  figure  is  different  from  the  foreign  rent  you  actually  receive.  To  calculate  the  net  amount,  you  must  subtract  your\u00a0<strong>allowable  expenses  and  deductions  from  your  taxable  foreign  rental  income<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  taxed  on  the  remittance  basis  you  have  to  pay  tax  on  the  total  amount,  without  claiming  expenses  or  deductions.<\/p>\n<p  style=\"font-weight:  400;\">If  you  make  a  loss  from  renting  out  your  foreign  property,  you  can  offset  that  loss  against  profits  from  other  foreign  rental  properties  that  you  own  or  you  can  carry  forward  it  until  you  can  offset  it  against  a  foreign  rental  profit.  However,  it  is  not  possible  to  offset  a  loss  from  foreign  rental  properties  against  Irish  rental  profits.<\/p>\n<p  style=\"font-weight:  400;\">The  Income  Tax  is  calculated  on  the  net  foreign  rental  amount  on  your  Form  11  or  Form  12  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">If  you  earn  other  income  during  the  year,  such  as  from  a  Pay  As  You  Earn  (PAYE)  employment,  a  pension  or  other  non-PAYE  income,  if  you  wish,  you  can  choose  to  pay  the  tax  due  on  your  foreign  rental  income  by  reducing  your  tax  credits  by  the  appropriate  amount.<\/p>\n<p  style=\"font-weight:  400;\">To  be  eligible  for  this,  from  2015,  your  gross  non-PAYE  income  must  be  less  than  \u20ac30,000  and  your  net  non-PAYE  income  must  be  less  than  \u20ac5,000.  For  previous  years  your  gross  non-PAYE  income  must  be  less  than  \u20ac50,000  and  your  net  non-PAYE  income  must  be  less  than  \u20ac3,174.<\/p>\n<h3 id=\"double-taxation-agreement-dta\">Double  Taxation  Agreement  (DTA)<\/h3>\n<p  style=\"font-weight:  400;\">You  may  have  to  pay  tax  on  your  foreign  rental  income  in  the  country  your  property  is  located  in  and  also  in  Ireland.  This  will  depend  on  your  residence  or  domicile  status.<\/p>\n<p  style=\"font-weight:  400;\">You  may  be  able  to  deduct  some,  or  all,  of  the  foreign  tax  you  have  paid  when  you  are  calculating  how  much  Irish  tax  you  owe.  Whether  or  not  Ireland  has  a\u00a0<strong>Double  Taxation  Agreement  (DTA)<\/strong>\u00a0with  the  country  your  property  is  located  in  will  affect  the  amount  that  you  can  reduce  your  Irish  tax  by.<\/p>\n<p  style=\"font-weight:  400;\">Some  countries  charge  a  tax  on  deemed  rental  income  &#8211;  rental  income  you  are  expected  to  have  earned  from  renting  out  the  property  even  if  it  was  not  rented  out.  However,  it  is  important  to  be  aware  that  you\u00a0<strong>can&#8217;t  offset  this  tax  against  the  amount  of  Irish  tax  you  owe<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  there  is  no  DTA  in  place  between  Ireland  and  the  country  in  which  your  property  is  located,  you  are  eligible  to  claim  a  deduction  for  any  foreign  tax  that  you  have  paid.  When  you  are  calculating  the  tax  that  will  be  due  in  Ireland  you  can  reduce  the  liability  with  this  deduction.<\/p>\n<h3 id=\"dta-residency-status\">DTA  \u2013  residency  status<\/h3>\n<h4 id=\"non-resident\"  style=\"font-weight:  400;\"><strong>Non-resident<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  have  income  that  you  will  pay  Irish  and  foreign  tax  on,  you  may  be  entitled  to  claim  relief  from  your  country  of  residence.  This  is  possible  if  your  country  of  residence  has  a  Double  Taxation  Agreement  (DTA)  with  Ireland.<\/p>\n<p  style=\"font-weight:  400;\">You  can  only  receive  a  refund  for  the  Irish  tax  that  you  pay.  A  claim  for  a  refund  on  tax  paid  outside  Ireland  must  be  made  to  the  tax  office  in  that  country  and  not  in  Ireland.  You\u00a0<strong>can&#8217;t  claim  a  credit  for  foreign  tax  against  the  income  you  have  earned  in  Ireland  if  you  have  received  a  refund  on  the  foreign  tax<\/strong>.<\/p>\n<h4 id=\"resident\"  style=\"font-weight:  400;\"><strong>Resident<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  are  normally  resident  and  domiciled  in  Ireland,  you  will  be  liable  to  pay  Irish  tax  on  your\u00a0<strong>worldwide  income<\/strong>\u00a0(including  foreign  income  earned  abroad).  But,  if  you  have  already  paid  tax  on  this  income,  you  may  be  entitled  to  claim  a  credit  for\u00a0<strong>foreign  tax  deducted  under  the  terms  of  a  DTA<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Non-resident  directors  of  Irish  incorporated  companies<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  are  a  director  of  an  Irish  incorporated  company  (and  hold  an  Irish  Public  Office),  you  will  have  to  pay  Irish  tax  on  the  income  from  this  directorship  regardless  of:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>your  tax  residence  position<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>where  your  duties  are  carried  out<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">However,  you  may,  in  some  cases,  be  entitled  to  claim  tax  relief  on  your  directorship  income  under  the  terms  of  a  DTA  between  Ireland  and  your  country  of  residence.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10368  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies.jpg\" alt=\"\" width=\"825\" height=\"40\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies.jpg 825w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-300x15.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-768x37.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-380x18.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-800x39.jpg 800w\" sizes=\"auto, (max-width: 825px) 100vw, 825px\" \/><\/p>\n<h3 id=\"blogging-3\">Blogging<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10369  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund.jpg\" alt=\"blogging  and  irish  tax  refund\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/blogging-and-irish-tax-refund-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Amy  works  as  a  veterinary  nurse  and  earns  the  majority  of  her  income  in  this  role  through  the  PAYE  system.<\/p>\n<p  style=\"font-weight:  400;\">In  her  spare  time  Amy  operates  a  blog  where  she  writes  about  her  experiences  in  the  industry  and  provides  practical  tips  for  pet  owners.<\/p>\n<p  style=\"font-weight:  400;\">Since  its  launch,  the  blog  has  grown  a  considerable  following  of  readers.  Sponsors  are  interested  too  and  Amy  earns  \u20ac4,000  in  sponsorship  each  year.<\/p>\n<p  style=\"font-weight:  400;\">Some  pet  toy  and  food  companies  also  send  Amy  gifts  of  their  products  and  she  regularly  reviews  these  on  her  blog.  The  value  of  the  gifts  comes  to  \u20ac2,000  per  year.  Amy  uses  and  reviews  \u20ac1,500  worth  of  gifts.<\/p>\n<p  style=\"font-weight:  400;\">While  Amy  only  earns  \u20ac4,000  in  sponsorship  income  for  her  blog,  she  is  still  considered  a  &#8216;Chargeable  Person&#8217;  by  Revenue  because  the  gifts  that  she  uses  are  also  counted  as  taxable  income  (taking  her  total  income  from  the  blog  to  \u20ac5,500).<\/p>\n<p  style=\"font-weight:  400;\">Gifts  are  not  taxable  to  Income  tax.  They  are  subject  to  CAT,  provided  the  value  of  the  gifts  given  by  a  single  person\/company  is  more  than  \u20ac3,000.  Based  on  the  above,  Amy&#8217;s  income,  which  is  subject  to  Income  tax  and  which  should  be  reported  on  her  tax  return,  is  a  total  of  \u20ac4,000  (it  is  less  than  \u20ac5,000  and  Amy  can  submit  Form  12  instead  of  Form  11).<\/p>\n<p  style=\"font-weight:  400;\">Note  that  information  re  CAT  due\/inheritance  received  should  be  submitted  on  a  separate  return  (If  the  total  value  of  the  gifts  and  inheritances  exceeds  80%  of  the  relevant  group  threshold,  the  individual  must  file  an  IT38  return),  it  cannot  be  reported  on  Form  11\/Form  12.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"parking\">Parking<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10370  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland.jpg\" alt=\"parking  and  tax  refund  ireland\" width=\"824\" height=\"519\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland-286x180.jpg 286w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland-300x189.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland-768x484.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland-380x239.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/parking-and-tax-refund-ireland-800x504.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Mark  has  recently  bought  a  new  house.  He  doesn&#8217;t  own  a  car  and  the  parking  space  outside  his  home  is  left  idle.<\/p>\n<p  style=\"font-weight:  400;\">He  decides  to  supplement  his  income  by  renting  out  the  parking  space.  This  earns  him  \u20ac200  a  month  (\u20ac2,400  a  year).<\/p>\n<p  style=\"font-weight:  400;\">Mark  is  obliged  to  file  a  Form  12  tax  return  each  year  he  rents  out  the  parking  space.<\/p>\n<p  style=\"font-weight:  400;\">Mark  can  deduct  any  advertising  costs  associated  with  the  parking  space  from  his  income  to  reduce  his  overall  tax  bill.<\/p>\n<h3 id=\"cleaning\">Cleaning<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10371  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland.jpg\" alt=\"cleaning  and  tax  refund  in  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/cleaning-and-tax-refund-in-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Mary  works  part  time  in  a  supermarket  where  her  income  is  paid  through  the  PAYE  system.<\/p>\n<p  style=\"font-weight:  400;\">She  also  offers  her  cleaning  services  on  Hassle.com  and  works  two  evenings  a  week  and  on  Saturdays.  This  work  earns  her  \u20ac120  per  week  (\u20ac6,240  per  year).<\/p>\n<p  style=\"font-weight:  400;\">While  Mary  can  deduct  numerous  expenses  (including  the  cost  of  cleaning  supplies  and  transport  to  the  location  where  she  cleans)  to  reduce  her  overall  tax  bill,  she  must  declare  this  income  to  Revenue  and  file  a  Form  11  each  year  (in  case  her  taxable  non-PAYE  income  exceeds  \u20ac5,000).<\/p>\n<h3 id=\"delivery\">Delivery<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10372  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland.jpg\" alt=\"delivery  and  tax  refund  in  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/delivery-and-tax-refund-in-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">At  weekends,  Jack  cycles  around  Dublin  delivering  food  for  Deliveroo.  This  work  earns  him  \u20ac150  every  week  (\u20ac7,800  per  year).  \u20ac30  of  his  weekly  earnings  comes  from  tips  from  customers.<\/p>\n<p  style=\"font-weight:  400;\">Tips  are  considered  as  taxable  income  by  Revenue  so  Jack  must  include  all  income  he  earns  from  delivering  food  on  his  Form  11  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">However,  he  can  deduct  allowable  expenses  (such  as  the  cost  of  repairs  to  his  bike,  high-vis  clothing  and  a  new  helmet)  from  his  income  to  reduce  his  overall  tax  bill.  If  his  taxable  non-PAYE  income  (i.e.  after  deducting  all  allowable  expenses\/capital  allowances)  is  less  than  \u20ac5,000,  he  can  file  a  tax  return  Form  12  instead  of  Form  11.<\/p>\n<h3 id=\"trading\">Trading<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10428  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland.jpg\" alt=\"trading  and  tax  refund  in  ireland\" width=\"824\" height=\"550\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland-768x513.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland-380x254.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/trading-and-tax-refund-in-ireland-800x534.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">In  his  spare  time,  Greg  likes  to  trade  goods  he  makes  for  other  goods  and  services  through  the  sharing  economy.<\/p>\n<p  style=\"font-weight:  400;\">Revenue  considers  goods  and  services  received  to  be  taxable  income.<\/p>\n<p  style=\"font-weight:  400;\">It  is  a  good  idea  for  Greg  to  keep  a  detailed  account  of  the  goods  and  services  he  receives  and  their  market  value  when  he  receives  them.<\/p>\n<p  style=\"font-weight:  400;\">Greg  calculates  the  total  value  of  goods  and  services  he  has  received  to  be  worth  \u20ac3,500.  He  is  obliged  to  file  a  Form  12  tax  return  for  this  income.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"-3\"><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10374  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-1024x576.png\" alt=\"Expenses  for  self-employment  income\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-self-employment-income.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<h2 id=\"expenses-for-self-employment-income\">Expenses  for  self-employment  income<\/h2>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_1a238648dbc29ba3d3ef9d41293a4f44\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-1a238648dbc29ba3d3ef9d41293a4f44\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-1a238648dbc29ba3d3ef9d41293a4f44\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/5cn3XFsmGyc?si=ZK3dZWkriyv79-5X\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_1a238648dbc29ba3d3ef9d41293a4f44 = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/5cn3XFsmGyc?si=ZK3dZWkriyv79-5X&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<h2 id=\"earned-income-tax-credit\">Earned  Income  Tax  Credit<\/h2>\n<p  style=\"font-weight:  400;\">Tax  credits  are  used  to<strong>\u00a0reduce  your  overall  tax  liability<\/strong>.  If  you  are  self-employed  you  can  claim  an  Earned  Income  Tax  Credit.\u00a0For  2024,  it  is  \u20ac,1875.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note<\/strong>:  The  credit  available  is  the  lower  of:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac1,875<br \/>\nor<\/li>\n<li>20%  of  your  qualifying  earned  income<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Examples  of  income  that\u00a0<strong>qualifies\u00a0<\/strong>for  the  earned  income  credit  includes:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>trading  income  (Case  I  and  II)<br \/>\nand<\/li>\n<li>pay  earned  by  proprietary  directors<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  credit  is  not  available  against  your  passive  or  investment  income,  such  as:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>rental  income<br \/>\nor<\/li>\n<li>deposit  interest  income<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">However,  it&#8217;s  important  to  note  that  if  you\u00a0<strong>also  qualify  for  the  PAYE  tax  credit.<\/strong>\u00a0Although,  the  combined  value  of  these  two  tax  credits  can&#8217;t  exceed  \u20ac1,875.<\/p>\n<h2 id=\"receipts\">Receipts<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10375  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland.jpg\" alt=\"self  assessed  Receipts  for  tax  return  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessed-Receipts-for-tax-return-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  intend  to  make  any  deductions  on  your  tax  return,  it  is  vital  to  keep  a  detailed  record  of  your  receipts.  While  it  is  not  necessary  to  send  receipts  to  Revenue  along  with  your  tax  return,  they  will  be  required  if  you  are  selected  for  audit.<\/p>\n<p  style=\"font-weight:  400;\">In  the  event  of  an  audit,  you  will  need  to  provide  documentation  which  supports  every  figure  stated  in  your  tax  return.  And,  as  your  annual  tax  return  can  be  audited  at  any  time  within  a  six  year  period,  you  will  need  to  keep  all  relevant  files  such  as  invoices,  bank  statements,  cheque  &amp;  cash  books  and  expense  receipts  in  a  safe  place.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"allowable-expenses\">Allowable  expenses<\/h3>\n<p  style=\"font-weight:  400;\">Allowable  business  expenses  can  be  used  to  reduce  your  overall  tax  bill.<\/p>\n<p  style=\"font-weight:  400;\">In  order  for  an  expense  to  be  regarded  as  business  related  \u2013  and  therefore  allowable  as  a  deduction  from  your  tax  bill  \u2013  it  must  be:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Regarded  as  a  &#8216;Revenue  expense&#8217;  and  not  a  &#8216;Capital  Expense&#8217;.  A  Capital  Expense  is  an  expense  that  is  normally  once  off  purchase  of  an  asset  (for  example,  a  car,  furniture  or  computer).  A  Revenue  Expense  normally  refers  to  expenditure  which  is  incurred  on  an  ongoing  basis  (e.g.  electricity  or  stationery).<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Incurred  &#8216;<strong>wholly  and  exclusively<\/strong>\u00a0for  the  purpose  of  the  trade&#8217;.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Not  specifically  disallowed  in  tax  legislation.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">And,  where  an  expense  relates  to  both  business  and  private  use,  only  the  proportion  of  the  cost  that  relates  to  business  activity  can  be  expensed.<\/p>\n<h4 id=\"work-space\">Work  space<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10377  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home.jpg\" alt=\"work  space  for  tax  refund  working  from  home\" width=\"824\" height=\"488\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home-300x178.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home-768x455.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home-380x225.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/work-space-for-tax-refund-working-from-home-800x474.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  common  allowable  expenses  which  relate  to  work  spaces.<\/p>\n<p  style=\"font-weight:  400;\">For  starters,  renting  out  an  office  space  is  an\u00a0<strong>allowable  expense<\/strong>.  Utility  bills  such  as  heating,  lighting,  telephone  and  internet  are  also  allowable  as  well  as  the  cost  of  insuring  the  business  premises  and  the  contents.<\/p>\n<p  style=\"font-weight:  400;\">And,  if  you  work  from  home,  these  expenses  are  still  allowable  to  the  extent  of  the  business  use  only.  In  other  words,  you  must  divide  each  expense  into\u00a0<strong>the  percentage  that  occurred  from  personal  use  and  the  percentage  that  occurred  from  business  use<\/strong>.<\/p>\n<h4 id=\"do-you-work-from-home\">Do  you  work  from  home?<\/h4>\n<p  style=\"font-weight:  400;\">If  you  are  working  from  a  home  office  or  even  spend  some  of  your  time  working  from  home,  you  can  claim  a\u00a0<strong>percentage  of  expenses  such  as<\/strong>\u00a0home  broadband,  telephone,  gas  and  electricity.  You  can  only  claim  for  the\u00a0<strong>percentage  of  the  cost<\/strong>\u00a0that  relates  to  business  use.<\/p>\n<h4 id=\"wear-tear\">Wear  &amp;  Tear<\/h4>\n<p  style=\"font-weight:  400;\">An  annual  wear  and  tear  allowance  is  available  at  a  rate  of  12.5%  of  the  cost  per  year,  for  a  maximum  of  eight  years.<\/p>\n<p  style=\"font-weight:  400;\">In  order  for  a  trader  to  claim  capital  allowances  on  expenditure  incurred  on  an  asset:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>They  must  have  incurred  the  expenditure  for  the  purpose  of  the  trade<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>The  asset  must  be  in  use  at  the  end  of  the  accounting  period<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>The  asset  must  be  used  wholly  and  exclusively  for  the  purpose  of  the  trade<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">It  is  essential  that  all  of  these  conditions  are  met.<\/p>\n<p  style=\"font-weight:  400;\">Office  equipment  (items  of  a  capital  nature)  such  as  computers,  printers,  copiers  and  fax  machines  can  be  included  on  your  list  of  tax  deductibles.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10378  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland.jpg\" alt=\"\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Office-equipment-tax-refund-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Machinery  and  cars  can  also  be  included  although  it  should  be  noted  that  tax  relief  is  spread  over  an  8  year  period.<\/p>\n<p  style=\"font-weight:  400;\">Meanwhile,  there  are  specific  rules  regarding  the  capital  allowances  that  can  be  claimed  on  motor  vehicles.  These  rules  relate  only  to  passenger  motor  vehicles  and  not  to  other  commercial  vehicles,  lorries  etc.  From  1  July  2008  the  qualifying  cost  available  for  capital  allowances  purposes  varies  depending  on  the  CO2  emissions  level  of  the  vehicle.<\/p>\n<p  style=\"font-weight:  400;\">Capital  allowance  can  also  be  claimed  for  industrial  buildings.  Generally,  industrial  buildings  are  written  off  on  a  straight  line  basis  over  a  25-year  period  (the  tax  life  of  the  building),  so  that  a  trader  may  claim  an  Industrial  Building  Annual  Allowance  (IBAA)  of  4%  of  the  qualifying  cost  each  year.  IBAA  can  only  be  claimed  where  expenditure  is  incurred  on  the  construction  or  acquisition  of  an  industrial  building,  which  is  in  use  at  the  end  of  the  accounting  period.<\/p>\n<p  style=\"font-weight:  400;\">There  are  certain  circumstances  where  a  trader  may  be  able  to  claim  a  higher  IBAA.  Expenditure  on  private  convalescent  homes,  private  hospitals,  qualifying  sport  clinics,  qualifying  residential  units,  private  nursing  homes  and  child  care  facilities  all  qualify  for  IBAA  at  15%  per  annum.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"motoring\">Motoring<\/h4>\n<p  style=\"font-weight:  400;\">You  can  also  claim  tax  relief  if  you  use  your  car  for  business  reasons.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  you  can  deduct  running  expenses,  motor  tax,  insurance,  service,  tires,  driver&#8217;s  licence  costs,  NCT  and  repairs  from  your  tax  bill.<\/p>\n<p  style=\"font-weight:  400;\">However,  it&#8217;s  important  to  note  that  if  the  car  is  used  for  more  than  business  use  you  can&#8217;t  expense  costs  that  relate  to  personal  use.<\/p>\n<h4 id=\"professional-services\">Professional  Services<\/h4>\n<p  style=\"font-weight:  400;\">Should  you  require  the  services  of  an  accountant  or  financial  agent  to  manage  your  accounts  or\u00a0<strong>help  you  to  file  your  tax  return<\/strong>,  you  can  include  the  associated  costs  on  your  list  of  allowable  expenses.<\/p>\n<p  style=\"font-weight:  400;\">You  can  also  claim  tax  relief  if  you  are  availing  of  the  services  of  business  consultants,  training  providers,  legal  agents,  auditors  and  marketing  &amp;  PR  services  etc.<\/p>\n<h4 id=\"finance-lease-payments-for-vehicles-or-machines-that-you-use-in-your-business\">Finance  lease  payments  for  vehicles  or  machines  that  you  use  in  your  business<\/h4>\n<p  style=\"font-weight:  400;\">You  can  also  claim  the  full  lease  payment  for  vehicles  or  machines  that  you  use  in  your  business  (capital  and  interest  payment)  against  your  self-employment  income.<\/p>\n<h4 id=\"interest-paid-on-business-loans\">Interest  paid  on  business  loans<\/h4>\n<p  style=\"font-weight:  400;\">Interest  incurred\u00a0<strong>wholly  and  exclusively  for  trade  purposes  is  allowed  against  your  trading  profits<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Other  allowable  expenses:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  purchase  of  goods  for  resale<\/li>\n<li>Employees&#8217;  pay<\/li>\n<li>Some  pre-trading  expenses<\/li>\n<\/ul>\n<h4 id=\"can-you-claim-tax-free-travel-and-subsistence\">Can  you  claim  tax  free  travel  and  subsistence?<\/h4>\n<p  style=\"font-weight:  400;\">Mileage  and  subsistence  schemes  are  for  employees  only,  a  sole-trader  can  only  claim  a  percentage  of  all  motor  expenses  (all  running  costs  \u2013  fuel,  repairs,  insurance  &amp;  tax)  and  travel  expenses  (hotel,  train).\u00a0<strong>You  will  need  to  keep  all  the  receipts  for  these  costs<\/strong>,  so  be  careful  and  don&#8217;t  lose  them.<\/p>\n<p  style=\"font-weight:  400;\">The  amount  you  can  claim  is  the  business  element  of  the  overall  costs.  Be  realistic,  Revenue  are  not  going  to  believe  that  you  use  your  car  100%  of  the  time  for  business!<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"considering-making-pension-contributions\">Considering  making  pension  contributions?<\/h4>\n<p  style=\"font-weight:  400;\">While  pensions  have  gotten  bad  press  over  the  last  few  years,  making  a  pension  contribution  will  reduce  your  tax  bill  and  is  always  worthwhile  considering.  However,  it  is  a  good  idea  to  seek  financial  advice  before  making  a  final  decision.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10379  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland.jpg\" alt=\"pension  ireland\" width=\"824\" height=\"550\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland-768x513.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland-380x254.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/pension-ireland-800x534.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h4 id=\"what-you-cant-expense\">What  you  can&#8217;t  expense<\/h4>\n<p  style=\"font-weight:  400;\">There  are  a  variety  of  expenses  that  are  commonly  included  as  expenses  on  tax  returns,  but  in  reality  are  not  an  eligible  deduction.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Stamp  Duty<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  purchase  a  property  with  the  intention  of  renting  it  out,  you&#8217;ll  have  to  pay  1%  Stamp  Duty  on  any  purchase  up  to  \u20ac1,000,000  and  2%  balance  on  any  amount  above  that.  It&#8217;s  important  to  keep  in  mind  that  money  paid  on  Stamp  Duty  can&#8217;t  be  expensed  against  your  earnings.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Food<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Food  is  very  rarely  allowable  as  an  expense.  Should  an  event  arise  where  you  undertake  a  business  trip  related  to  your  Airbnb  accommodation,  you  can  expense  any  related  food  costs  from  the  trip.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  want  to  boost  your  accommodation  offering  by  providing  a  free  welcome  basket  of  fruit  to  your  guests,  you  can&#8217;t  include  these  costs  as  an  expense.  And,  if  you  meet  someone  for  lunch,  you  can&#8217;t  generally  claim  that  as  an  expense.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Commuting<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Costs  relating  to  a  commute  are  also  rarely  applicable.  For  example,  if  you  are  non-resident  at  your  Airbnb  offering,  you  can&#8217;t  expense  any  costs  that  occur  from  travelling  to  and  from  the  accommodation.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Entertainment<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  want  to  treat  a  client  to  a  night  out  at  a  concert  or  show,  you  generally  can&#8217;t  use  these  expenses  to  reduce  your  tax  bill.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Other  non-allowable  expenses<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  own  pay<\/li>\n<li>Clothing  (with  some  exceptions)<\/li>\n<li>Interest  on  late  payment  of  tax,  e.g.  VAT,  PAY\/PRSI,  etc.<\/li>\n<li>The  creation  or  increase  of  general  provisions,  e.g.  general  bad  debt  provisions,  general  inventory  provisions  etc.<\/li>\n<li>Provisions  for  repairs<\/li>\n<li>Motor  leasing  expenses  (for  certain  categories  of  cars)  \u2013  with  effect  from  1  July  2008,  the  amount  of  lease  charges  which  are  allowed  in  calculating  taxable  income  will  depend  on  both  the  price  of  the  car  and  its  CO2  emission.<\/li>\n<li>Depreciation  \u2013  however,  the  expenditure  may  qualify  for  capital  allowances<\/li>\n<li>Charitable  and  Political  subscriptions  \u2013  however,  trade  subscriptions  are  allowable<\/li>\n<li>Other  tax  charges  \u2013  e.g.  parking  fines,  stamp  duty,  etc.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  the  expense  is  disallowed  for  tax  purposes,  it  can&#8217;t  be  claimed  against  your  self-employment  income.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<h3 id=\"expenses-for-income-earned-through-the-sharing-economy\">Expenses  for  income  earned  through  the  Sharing  Economy<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10380  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland.jpg\" alt=\"Expenses  for  income  earned  through  the  Sharing  Economy  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-income-earned-through-the-Sharing-Economy-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Thousands  of  people  earn  money  by  selling  their  goods  and  services  through  the  Sharing  Economy  \u2013  for  example  renting  out  a  room  on  Airbnb,  delivering  food  with  Deliveroo  and  renting  out  a  spare  car  parking  space.<\/p>\n<p  style=\"font-weight:  400;\">However,  income  earned  through  the  Sharing  Economy  \u2013  even  if  it  is  not  your  primary  source  of  income  \u2013  is  taxable  and  you  must  declare  it  to  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">In  the  course  of  operating  your  Sharing  Economy  business,  it  is  likely  you  incurred\u00a0<strong>numerous  business  expenses<\/strong>\u00a0and  many  of  these  can  be  deducted  from  your  gross  income  to  reduce  your  overall  liability.<\/p>\n<p  style=\"font-weight:  400;\">General  examples  of  qualifying  expenses  are:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>fees  and  charges  associated  with  signing  up  to  advertise  your  services  on  a  website<\/li>\n<li>legal  and  accounting  fees<\/li>\n<li>costs  for  the  supply  of  necessary  equipment<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">It&#8217;s  important  to  note  that  you  can  only  expense  costs  which  have  wholly  and  exclusively  occurred  for  the  purposes  of  the  trade.  You  can&#8217;t  include  costs  which  occurred  during  personal  use.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  Michael  uses  his  bike  exclusively  to  deliver  food  with  Deliveroo  at  weekends.  He  also  uses  the  bike  for  personal  reasons  during  the  week.  Michael  is  entitled  to  claim  2\/7s  of  the  costs  associated  with  maintaining  his  bicycle.  In  other  words,  Michael  is  claiming  for  the  two  days  of  the  week  where  the  bike  was  used  for  business.  So  if  his  total  maintenance  costs  are  \u20ac100,  he  can  expense  \u20ac28.57.<\/p>\n<p  style=\"font-weight:  400;\">Similarly,  Phil  advertises  his  part-time  gardening  services  on  Adverts.ie.  He  uses  his  personal  gardening  tools  while  providing  his  services.  Phil  needs  to  keep  a  detailed  record  of  the  number  of  days  he  worked  gardening  during  the  year  so  he  can  calculate  exactly  how  much  he  can  expense  if  he  needs  to  purchase  new  tools.  If  he  works  as  a  gardener  for  100  days  in  a  year  and  the  cost  of  new  tools  is  \u20ac500,  he  will  be  entitled  to  expense  \u20ac136.98.<\/p>\n<p  style=\"font-weight:  400;\">Phil  can  also  expense  costs  associated  with  travelling  to  and  from  locations  for  gardening.<\/p>\n<p  style=\"font-weight:  400;\">If  you  own  a  vehicle  that&#8217;s  used  for  both  business  and  personal  purposes,  you&#8217;re  entitled  to  claim  a  percentage  of  the  actual  running  costs  (fuel,  repairs,  servicing,  etc.)  which  relate  solely  to  trade  use.<\/p>\n<p  style=\"font-weight:  400;\">If  you  offer  dog  minding  services,  you  can  expense  the  costs  associated  with  caring  for  the  animal  (such  as  food  and  bedding).<\/p>\n<p  style=\"font-weight:  400;\">Meanwhile  if  you&#8217;ve  developed  a  trade  from  renting  dresses  on  Rentmydress.ie,  you  can  expense  any  costs  associated  with  cleaning  the  clothes  when  they&#8217;re  returned.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10381  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb.jpg\" alt=\"\" width=\"990\" height=\"48\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb.jpg 825w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb-300x15.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb-768x37.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb-380x18.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-study-airbnb-800x39.jpg 800w\" sizes=\"auto, (max-width: 990px) 100vw, 990px\" \/>\n<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  earning  money  through  Airbnb  \u2013  i.e.  renting  out  your  home  or  a  room  in  your  home  for  profit  \u2013  there  are  potentially  a  number  of  costs  you  can  deduct  to  reduce  your  tax  liability  including:<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0These  deductions  are  mainly  associated  with  Case  I  &#8216;trading&#8217;  income.  Fewer  expenses  are  allowed  under  Case  IV  &#8216;miscellaneous&#8217;  income  and  each  expense  is  assessed  by  Revenue  on  a  case-by-case  basis  to  determine  if  it  is  allowable.<\/p>\n<p  style=\"font-weight:  400;\">Also,  you  can  only  expense  the  percentage  of  these  costs  that  were  used  for  your  Airbnb  business.  If  you  can&#8217;t  work  out  exactly  how  much  you  should  charge,  you  can  attribute  the  costs  based  on  the  size  of  the  room  used  in  comparison  to  your  home  and  the  number  of  days  that  you&#8217;ve  had  guests  throughout  the  year.  If  you&#8217;re  renting  out  your  entire  house,  simply  attribute  the  costs  based  on  the  number  of  days  guests  stayed  in  your  home  that  year.<\/p>\n<h3 id=\"1-repairs-and-maintenance\">1)  Repairs  and  maintenance<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10382  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland.jpg\" alt=\"Repairs  and  maintenance  tax  reliefs  airbnb  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Repairs-and-maintenance-tax-reliefs-airbnb-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">You  can  expense  repair  and  maintenance  costs  involved  in  the  upkeep  of  your  home  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>replacing  broken  windows  and  locks<\/li>\n<li>servicing  boilers<\/li>\n<li>supplying  new  furnishings  and  fittings<\/li>\n<li>purchased  cleaning  supplies<\/li>\n<li>laundry<\/li>\n<\/ul>\n<h3 id=\"2-agent-fees\">2)  Agent  fees<\/h3>\n<p  style=\"font-weight:  400;\">In  many  cases,  money  is  transferred  electronically  between  guests  and  Airbnb  hosts.  If  you  prefer  to  receive  cash,  and  you  use  an  intermediary  to  collect  fees  (for  example  if  you  are  a  non-resident),  this  service  is  tax-deductible.<\/p>\n<p  style=\"font-weight:  400;\">You  can  also  expense  the  service  fees  (currently  levied  at  3%  of  the  total  reservation)  that  every  host  is  charged  by  Airbnb.<\/p>\n<h3 id=\"3-utilities\">3)  Utilities<\/h3>\n<p  style=\"font-weight:  400;\">You  can  also\u00a0<strong>expense  your  utilities<\/strong>\u00a0such  as:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>gas<\/li>\n<li>electricity<\/li>\n<li>TV  bills<\/li>\n<li>internet<\/li>\n<\/ul>\n<h3 id=\"4-local-service-charges\">4)  Local  Service  Charges<\/h3>\n<p  style=\"font-weight:  400;\">You  can  also  expense  any  local  council  costs  relating  to  your  rental  property,  including  rubbish  collection  and  recycling.  Of  course,  if  you  choose  to  pass  these  charges  to  your  guests,  you  can&#8217;t  claim  them  back  later  as  an  expense.<\/p>\n<h3 id=\"5-advertising\">5)  Advertising<\/h3>\n<p  style=\"font-weight:  400;\">Anything  you  pay  towards  publicising  property  you  want  to  rent  is  fully  claimable  as  an  expense.<\/p>\n<h3 id=\"6-legal-or-accounting-fees\">6)  Legal  or  Accounting  Fees<\/h3>\n<p  style=\"font-weight:  400;\">You  can  also  expense  any  legal  or  accounting  fees  you  have  paid  which  relate  to  letting  out  your  Airbnb  property.  For  example,  if  you  have  paid  for  professional  advice  relating  to  Stamp  Duty,  you  can  include  this  as  a  deduction.<\/p>\n<h3 id=\"7-insurance\">7)  Insurance<\/h3>\n<p  style=\"font-weight:  400;\">In  short,  if  you&#8217;ve  taken  out  any  insurance  policy  relating  to  a  rental  property,  you&#8217;re  entitled  to  claim  expenses  on  any  premiums  you  have  had  to  pay.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  are  renting  out  a  room  within  your  own  home,  you  can&#8217;t  expense  the  entire  premium.<\/p>\n<h3 id=\"8-mortgage\">8)  Mortgage<\/h3>\n<p  style=\"font-weight:  400;\">You  can  also  claim  tax  relief  if  you  are  paying  interest  on  a  mortgage  taken  out  to  buy  or  improve  the  property  that  you  have  listed  on  Airbnb.<\/p>\n<h3 id=\"9-conference\">9)  Conference<\/h3>\n<p  style=\"font-weight:  400;\">If  you  attend  a  conference  or  seminar  with  a  view  to  educating  yourself  about  property  management  and  starting  an  Airbnb  business,  all  registration  fees  can  be  included  as  a  tax  deductible.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10383  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland.jpg\" alt=\"conference  fees  tax  deductible  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/conference-fees-tax-deductible-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10384  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box.jpg\" alt=\"\" width=\"825\" height=\"40\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box.jpg 825w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box-300x15.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box-768x37.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box-380x18.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/case-studies-empty-box-800x39.jpg 800w\" sizes=\"auto, (max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"blogging-expenses\">Blogging  expenses<\/h3>\n<p  style=\"font-weight:  400;\">Blogging  has  been  increasingly  popular  in  Ireland  in  recent  years  &#8211;  both  as  a  profession  and  for  leisure.  There  are  a  number  of  things  bloggers  can  expense  to  reduce  their  tax  bill.<\/p>\n<p  style=\"font-weight:  400;\">Of  course,  the  type  of  expense  you  incur  will  depend  on  the  type  of  subject  that  you  blog  about.  There  are  some  general  blogging  expenses  though  such  as  stationary,  internet,  travel  to  meetings  and  events  (including  reviewing  a  concert  or  movie)  and  these  can  all  be  expensed.<\/p>\n<h3 id=\"expenses-for-rental-income\">Expenses  for  rental  income<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10385  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland.jpg\" alt=\"Expenses  for  rental  income  ireland\" width=\"824\" height=\"602\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland-246x180.jpg 246w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland-300x219.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland-768x561.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland-380x278.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Expenses-for-rental-income-ireland-800x584.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\"><strong>General  expenses<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  certain  expenses  against  your  rental  income  to  reduce  the  amount  of  tax  you  will  have  to  pay.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Allowable  expenses  include<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>rates  you  pay  to  a  local  authority  for  the  property<\/li>\n<li>rents  you  pay  for  property  such  as  ground  rents<\/li>\n<li>insurance  premiums  against  fire  and  public  liability<\/li>\n<li>maintenance  of  your  property  such  as  cleaning,  painting  and  decorating<\/li>\n<li>property  fees  before  you  first  rent  out  your  property  such  as  management,  advertising,  legal  or  accountancy  fees<\/li>\n<li>the  cost  of  any  service  or  goods  you  provide  that  do  not  get  repaid  by  your  tenant  such  as  electricity,  central  heating,  telephone,  service  charges,  water  and  refuse  collection<\/li>\n<li>certain  mortgage  protection  policy  premiums<\/li>\n<li>expenses  in  between  renting  out  the  property  in  certain  circumstances<\/li>\n<li>capital  allowances<\/li>\n<li>repairs,  such  as  rot  treatment,  mending  windows,  doors  or  machines<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  must  keep  full  and  accurate  records  of  all  expenses  for  each  property  you  rent  out.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Capital  Allowances<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  capital  allowances,  known  as  &#8216;wear  and  tear  allowances&#8217;.  A  capital  allowance  is  a  yearly  tax  deduction  which  may  be  offset  against  your  rental  income.<\/p>\n<p  style=\"font-weight:  400;\">The  wear  and  tear  allowance  is  allowed  at  a  rate  of  12.5%  of  the  cost  of  furniture  and  fittings  for  your  rental  property  over  eight  years.  The  expenditure  must  be  incurred\u00a0<strong>wholly  and  exclusively<\/strong>\u00a0in  respect  of  the  property  let.<\/p>\n<p  style=\"font-weight:  400;\">The  allowances  may  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>furniture  you  purchased  for  your  rental  property<\/li>\n<li>the  cost  of  the  purchase  of  white  goods  such  as  a  fridge  or  a  dishwasher<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Capital  allowances  are  allowed  for  the  full  year  where  the  basis  period  is  1  January  to  31  December.  Where  the  basis  period  is  different  and  does  not  cover  the  full  year,  the  wear  and  tear  allowance  must  be  restricted.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Non-allowable  expenses<\/strong><\/p>\n<p  style=\"font-weight:  400;\">It  is  not  allowable  to  deduct  the  following  expenses  when  you  are  calculating  your  rental  profit  or  loss:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>pre-letting  expenses,  other  than  property  fees  before  you  first  rented  out  the  property<\/li>\n<li>post-letting  expenses<\/li>\n<li>capital  expenses  on  property  improvements  unless  allowed  under  an  incentive  scheme<\/li>\n<li>expenses  on  premises  rented  out  on  an  uneconomic  basis,  where  it  is  not  possible  to  make  a  profit  from  the  rent  received<\/li>\n<li>expenses  in  between  renting  out  the  property  in  certain  circumstances<\/li>\n<li>interest  from  the  time  you  buy  the  property  up  until  it  is  first  rented  out<\/li>\n<li>Local  Property  Tax  (LPT)<\/li>\n<li>any  cost  for  your  own  labour  when  carrying  out  repairs  to  the  property<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Pre-letting  expenditure  on  rental  expenses<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Some  expenses  incurred  on  a  vacant  residential  premises  prior  to  it  being  first  let  after  a  period  of  non-occupancy  are  allowable  as  a  deduction  against  rental  income  from  that  premises  under  certain  conditions.<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  premises  must  have  been  vacant  for  at  least  12  months  and  then  let  as  a  residential  premises  between  25th  December  2017  and  31  December  2021<\/li>\n<li>A  &#8216;vacant  premises&#8217;  is  any  premises  that  is  not  occupied  for  the  entire  12  months  before  the  &#8216;specified  day&#8217;  (the  day  on  or  after  25th  December  2017  on  which  a  vacant  premises  is  first  let  as  a  residential  premises).<\/li>\n<li>The  expenditure  must  have  been  incurred  in  the  12  months  before  the  premises  is  let  as  a  residential  premises.  This  is  known  as  the  &#8216;specified  period&#8217;.<\/li>\n<li>Where  an  expense  is  incurred  on  a  vacant  premises  during  the  12  months  prior  to  first  letting  after  the  12  month  vacant  period,  and  this  expenditure  would  be  otherwise  qualifying  if  it  had  been  incurred  on  or  after  the  first  day  the  premises  was  let,  then  it  may  be  authorised.<\/li>\n<li>The  deduction  is  subject  to  a  cap  of  \u20ac5,000  per  vacant  premises  and  to  claw-back  in  certain  circumstances.  If  you  incur  the  expenditure  and  then  cease  to  let  the  property  as  a  residential  premises  within  4  years  of  the  first  letting,  the  deduction  will  be  clawed-back  in  the  year  in  which  the  property  ceases  to  be  let  as  a  residential  premises.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"rent-a-room-relief-2\">Rent-a-Room  Relief<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10386  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland.jpg\" alt=\"Rent-a-Room  Relief  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Rent-a-Room-Relief-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Rent-a-room  relief  allows  homeowners  to\u00a0<strong>earn  tax-exempt  rental  income<\/strong>\u00a0from  private  tenants.  By  renting  out  a  room  in  your  house  you  can  earn  tax-free  income  as  long  as  it  doesn&#8217;t  exceed  \u20ac14,000  in  a  tax  year  (limit  was  \u20ac12,000  in  2016  and  2015  and  \u20ac10,000  in  2014  and  previous  years).  This  limit  applies  to  the  gross  amount  of  income  received  before  you  deduct  expenses.<\/p>\n<p  style=\"font-weight:  400;\">A  self-contained  unit,  such  as  a  basement  flat  or  a  converted  garage  attached  to  your  home  can  also  qualify  for  this  relief.<\/p>\n<p  style=\"font-weight:  400;\"><strong>To  qualify  for  rent-a-room  relief:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  home  must  be  located  in  the  state<\/li>\n<li>You  must  occupy  it  as  your  sole  residence  during  the  year  of  assessment  (it&#8217;s  your  home  for  the  greater  part  of  the  year)<\/li>\n<li>You  don&#8217;t  need  to  own  the  property  \u2013  you  could  be  a  tenant  and  be  subletting  to  someone  else  (you  may  need  to  check  if  your  landlord  allows  subletting)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>You  will  not  qualify  for  the  relief  if:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  gross  income  from  rent  and  related  services  is  over  \u20ac14,000<\/li>\n<li>You&#8217;re  renting  the  room  in  your  home  to  your  son  or  daughter  (there&#8217;s  no  restriction  in  the  case  of  other  family  members)<\/li>\n<li>You&#8217;re  an  employee  or  office-holder  in  a  company  and  the  company  pays  you  to  allow  clients  to  use  the  room  in  your  home  on  an  occasional  basis<\/li>\n<li>You  rent  the  room  to  short-term  guests<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  qualify  for  rent-a-room  relief,  the  income  you  get  from  renting  out  the  room  is  not  liable  to  PRSI,  the  Universal  Social  Charge  or  income  tax.  However,  it  must  be  included  on  your  annual  income  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">When  making  an  annual  tax  return,  you  should  record  your  rental  income  for  rent-a-room  relief  in  the  &#8216;<strong>Exempt  Income<\/strong>&#8216;  section  of  your  tax  return  form  at  the  end  of  the  tax  year  and  return  the  completed  form  to  your  local  tax  office.<\/p>\n<p  style=\"font-weight:  400;\">If  you  don&#8217;t  make  an  annual  tax  return  and  your  income  from  rent  and  related  services  is  under  the  exemption  limit,  you  don&#8217;t  have  to  claim  rent-a-room  relief  as  it  will  apply  automatically.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Why  you  might  opt  out  of  rent-a-room  relief<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  can&#8217;t  deduct  expenses  from  your  rental  income  while  claiming  rent-a-room  relief.  However,  depending  on  the  circumstances,  it  might  be  worth  your  while  to  opt  out  in  a  particular  year  so  that  you  can  offset  expenses  against  rental  income  and  avail  of  wear  and  tear  allowances.<\/p>\n<p  style=\"font-weight:  400;\">To  opt  out  of  the  rent-a-room  relief  in  a  particular  tax  year,  you  must  notify  Revenue  in  writing,  on  or  before  the  return  filing  date  for  that  tax  year.  If  you  make  an  annual  tax  return,  you  can  opt  out  by  marking  the  relevant  box  in  the  &#8216;Exempt  Income&#8217;  section  of  the  return,  otherwise  you  can  write  to  your  tax  district  to  say  you  don&#8217;t  wish  the  relief  to  apply.<\/p>\n<p  style=\"font-weight:  400;\"><strong>What  lets  qualify  for  rent-a-room  relief?<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  relief  applies  only  to  residential  tenancies  and  not  to  short-term  guest  arrangements.  So  for  example  you&#8217;ll  be  covered  if  you&#8217;re  renting  a  room  to  a  student  for  the  academic  year  or  for  a  one-month  course.  But  taking  in  guests  for  short  breaks\u00a0<strong>won&#8217;t  qualify\u00a0<\/strong>(such  as  letting  out  a  room  on  Airbnb  for  a  week).<\/p>\n<p  style=\"font-weight:  400;\">If  you  normally  rent  out  the  room  for  the  academic  year  and  you  rent  it  out  for  short  breaks  during  the  summer  as  well,\u00a0<strong>you  must  identify  the  income  you  get  from  the  short  rentals  separately<\/strong>\u00a0from  the  income  that  qualifies  for  rent-a-room  relief  when  making  your  tax  return  to  Revenue.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"relief-on-property\">Relief  on  property<\/h2>\n<h4 id=\"help-to-buy-incentive\">Help-to-Buy  Incentive<\/h4>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  looking  to  buy  a  home  in  Ireland  for  the  first  time,  the  Help-to-Buy  (HTB)  Incentive  will  give  you  a  refund  of  income  tax  and  DIRT  paid  in  Ireland  from  the  last  4  years.<\/p>\n<p  style=\"font-weight:  400;\">You  must  buy  or  build  the  property  to  live  in  as  your  own  home  and  to  claim  you  must:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Be  a  first  time  buyer<\/li>\n<li>Buy  or  build  the  property  between  19  July  2016  and  31  December  2021<\/li>\n<li>Live  in  the  property  as  your  main  home  for  5  years  after  you  buy  or  build  it<\/li>\n<li>Be  tax  compliant  or  if  you&#8217;re  self-assessed  you  must  have  tax  clearance<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  must  not  have  built  or  bought  an  apartment  or  house  previously  on  your  own  or  jointly  with  another  person.  If  you&#8217;re  buying  or  building  a  property  with  anyone  else,  they  must  also  be  first  time  buyers.<\/p>\n<p  style=\"font-weight:  400;\">Anyone  buying  a  property  must  have  signed  the  contract  to  buy  that  property  on  or  after  19  July  2016.  If  self-building,  you  must  have  drawn  down  the  first  part  of  the  mortgage  on  or  after  that  date.<\/p>\n<p  style=\"font-weight:  400;\">The  contractor  you&#8217;re  buying  your  home  from  must  be  approved  by  Revenue.  You  can  check  the  list  of  approved  developers  and  contractors  to  make  sure  they&#8217;re  approved.<\/p>\n<p  style=\"font-weight:  400;\"><strong>The  property  must  be<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>your  home<\/li>\n<li>newly  built  where  the  construction  is  subject  to  Value  Added  Tax  (VAT)  in  Ireland<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  property  must  not  have  been  used  or  been  suitable  to  use  as  a  residential  home  previously  and,  if  the  property  was  non-residential  but  is  converted  for  residential  use,  it  may  qualify  for  HTB.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  buy  or  build  the  property\u00a0<strong>as  an  investment<\/strong>,  it  will  not  qualify.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Purchase  value<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  bought  the  property  between  19  July  2016  and  31  December  2016,  the  purchase  price  must  be  \u20ac600,000  or  less.  If  you  bought  it  after  1  January  2017,  it  must  be  \u20ac500,000  or  less.  The  purchase  value  of  a  new  build  means  the  price  you  bought  it  for.  For  self-builds,  the  purchase  value  is  the  approved  valuation  by  the  lender  at  the  time  you  took  out  the  mortgage.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Mortgage<\/strong><\/p>\n<p  style=\"font-weight:  400;\">For  a  mortgage  to  qualify,  you  must  take  out  your  mortgage  on  the  property  with  a  qualifying  lender  and  it  should  be  used  only  for  buying  or  building  the  property.  The  loan  must  be  at  least\u00a0<strong>70%  of  the  purchase  value<\/strong>\u00a0of  the  property  and  you&#8217;re  permitted  to  have  a  guarantor  on  the  loan.<\/p>\n<p  style=\"font-weight:  400;\"><strong>How  much  can  I  claim?<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  the\u00a0<strong>lesser<\/strong>\u00a0of  these:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac20,000<\/li>\n<li>5%  of  the  purchase  price  or  5%  of  the  completion  value  of  a  self-build  property<\/li>\n<li>amount  of  Income  Tax  and  Deposit  Interest  Retention  Tax  (DIRT)  you  paid  in  the  4  years  before  your  purchase  or  self-build<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  maximum  payment  is  \u20ac20,000  per  property.  This  cap  applies  regardless  of  how  many  people  enter  into  a  contract  to  buy  a  house.  Universal  Social  Charge  (USC)  or  Pay  Related  Social  Insurance  (PRSI)  aren&#8217;t  taken  into  account  when  calculating  how  much  you  can  claim.<\/p>\n<p  style=\"font-weight:  400;\"><strong>How  will  I  receive  the  refund?<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>If  you  bought  or  built  the  property  between  19  July  2016  and  31  December  2016,  the  refund  will  be  paid  directly  to  you<\/li>\n<li>If  you  buy  a  new  build  after  1  January  2017,  the  refund  is  paid  to  the  contractor<\/li>\n<li>If  you  self-build  the  property  after  1  January  2017,  the  refund  will  be  paid  to  the  bank  account  of  your  loan  provider<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<p  style=\"font-weight:  400;\"><strong>Home  Renovation  Incentive  (HRI)<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10387  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI.jpg\" alt=\"Home  Renovation  Incentive  (HRI)\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Home-Renovation-Incentive-HRI-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Owner  occupiers  of  a  main  home  or  landlords  of  rental  properties  may  be  eligible  to  claim  tax  relief  under  the\u00a0<strong>Home  Renovation  Incentive  (HRI)  Scheme<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">HRI  provides  tax  relief  by  way  of  an  income  tax  credit  at  13.5%  of  qualifying  expenditure  on  repair,  renovations,  or  improvement  works  on  your  main  home  or  rental  property  by  qualifying  contractors.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  tax  relief  on  these  works  if  they  total  over  \u20ac4,405  (before  VAT  at  13.5%)  per  property.  The  jobs  must  be  carried  out  anytime,  by  a  qualifying  contractor,  from  25  October  2013  to  31  December  2018  for  homeowners  and  from  15  October  2014  and  up  to  31  December  2018  for  landlords.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Work  you  can  claim  the  HRI  for:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Extensions<\/li>\n<li>New  heating  system<\/li>\n<li>Insulation<\/li>\n<li>Bathroom  upgrades<\/li>\n<li>Installing  a  stove<\/li>\n<li>Attic  conversions<\/li>\n<li>Fitting  new  alarm  systems<\/li>\n<li>Solar  panels<\/li>\n<li>Plumbing<\/li>\n<li>Plastering<\/li>\n<li>Driveways<\/li>\n<li>Conversion  of  residential  premises  into  rental  units<\/li>\n<li>Tiling<\/li>\n<li>Rewiring<\/li>\n<li>Radon  remediation  work<\/li>\n<li>Painting  and  decorating<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Does  the  work  still  qualify  if  I  get  a  grant?<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Yes,  but  not  the  full  amount.  The  qualifying  expenditure  will  be  reduced  by  3  times  the  amount  of  the  grant.<\/p>\n<p  style=\"font-weight:  400;\">So  for  example:<\/p>\n<p  style=\"font-weight:  400;\">You  pay  \u20ac10,000  on  upgrading  insulation  and  receive  \u20ac2,700  under  the  Better  Energy  Homes  Scheme.<\/p>\n<p  style=\"font-weight:  400;\">So,  the  \u20ac10,000  will  be  reduced  by  \u20ac2,700  X  3  or  \u20ac8,100.<\/p>\n<p  style=\"font-weight:  400;\">\u20ac10,000  less  \u20ac8,100  leaves  \u20ac1,900<\/p>\n<p  style=\"font-weight:  400;\">The  \u20ac1,900  has  a  VAT  of  \u20ac226<\/p>\n<p  style=\"font-weight:  400;\">Under  the  scheme,  you  can  claim  a  tax  credit  on  \u20ac1,900  less  the  \u20ac226<\/p>\n<p  style=\"font-weight:  400;\">The  tax  credit  is:  \u20ac1,674  X  13.5%  =\u00a0<strong>\u20ac225.99<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"capital-gains-tax-cgt-deductions\">Capital  Gains  Tax  (CGT)  Deductions<\/h3>\n<p  style=\"font-weight:  400;\">If  you  have  made  an  investment  (for  example  in  stocks,  shares  or  currency),  there  are  some  deductions  you  can  make  to\u00a0<strong>reduce  your  CGT  liability<\/strong>.  These  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Cost  of  acquisition<\/li>\n<li>Inflation  index  &#8211;  if  the  asset  \/  property  was  bought  before  2003<\/li>\n<li>Expenditures  incurred  for  the  purpose  of  enhancing  the  value,  for  example,  if  a  property  was  bought  in  2005  for  \u20ac200,000  and  in  2007  a  small  guest  house  was  built  for  \u20ac80,000  on  the  property.  In  this  case,  disposal  of  the  whole  property  the  cost  to  be  deducted  for  tax  purposes  would  be  \u20ac280,000.<\/li>\n<li>All  incidental  expenses  incurred  either  on  acquisition  or  disposal  of  the  property  such  as  solicitor&#8217;s  fee,  advertising  costs,  auctioneer&#8217;s  fee  etc.<\/li>\n<\/ul>\n<p>\n\u00a0\n<\/p>\n<h4 id=\"capital-gains-tax-cgt-reliefs\">Capital  Gains  Tax  (CGT)  Reliefs<\/h4>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  reliefs  relating  to  CGT  which  are  available  in  certain  circumstances.  These  reliefs  help  to  reduce  the  amount  of  tax  due  on  a  disposal.<\/p>\n<h4 id=\"1-indexation-relief-or-inflation-relief\"  style=\"font-weight:  400;\"><strong>(1)  Indexation  Relief  (or  inflation  relief)<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  can  claim  indexation  relief  if  you  owned  the  asset  before  2003  and  the  market  value  of  the  asset  at  the  time  you  became  the  owner  is  increased  based  on  an  inflation  calculation  by  the  Central  Statistics  Office  (CSO).  Indexation  relief  operates  by  adjusting  the  acquisition  cost  of  a  chargeable  asset  for  inflation.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  if  land  is  being  used  for  development,  relief  applies  to  the  value  that  the  land  would  have  had  at  the  date  you  became  the  owner  (when  it  wasn&#8217;t  development  land).<\/p>\n<p  style=\"font-weight:  400;\">Indexation  applies  to  all  deductible  expenditure  from  the  tax  year  in  which  it  is  incurred  to  the  earlier  of:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>the  tax  year  in  which  the  asset  is  disposed  of<br \/>\nor<\/li>\n<li>1  January  2003<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Deductible  expenditure  includes<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Cost  of  acquisition<\/li>\n<li>Incidental  acquisition  costs<\/li>\n<li>Enhancement  expenditure<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">In  respect  of  assets  purchased  prior  to  6  April  1974,  you  will  have  to  index  the  market  value  of  that  asset  at  6  April  1974  and  not  the  original  cost  of  the  asset.<\/p>\n<p  style=\"font-weight:  400;\">Indexation  relief  was  abolished  for  the  tax  year  2003  and  any  year  thereafter,  however  you  can  get  indexation  relief  up  to  and  including  2002.  If  you  acquired  the  property  in  2003  or  any  subsequent  year,  then  you  can&#8217;t  avail  of  this  relief.<\/p>\n<h4 id=\"2-principal-private-residence-relief-ppr-relief\"  style=\"font-weight:  400;\"><strong>(2)  Principal  Private  Residence  Relief  (PPR  relief)<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  will  be  exempt  from  CGT  if  you  dispose  of  a  property  which  you  used  as  a  sole  or  main  residence.  This  exemption  also  applies  to  gardens  or  grounds  of  up  to  one  acre.  You  must  occupy  the  residence  for  the  full  period  of  ownership  in  order  to  claim  Principal  Private  Residence  Relief  (PPR)  in  its  entirety.<\/p>\n<p  style=\"font-weight:  400;\">Some  periods  of  absence  qualify  as  periods  of  occupation  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  last  12  months  of  ownership  of  the  property,  irrespective  of  whether  you  actually  reside  in  the  property  during  this  period.  However,  the  property  must  have  been  used  as  your  PPR  at  some  time  during  the  period  of  ownership  of  the  property<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Periods  of  absence  (no  more  than  4  years  in  total)  during  which  you&#8217;re  required  to  live  elsewhere  in  Ireland  by  the  conditions  of  your  employment.  However,  you  must  occupy  the  residence  as  a  PPR  both  before  and  after  the  periods  of  absence.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>Any  period  of  absence  throughout  which  you  work  abroad  as  a  condition  of  your  employment.  However,  for  this  period  to  qualify  as  occupation  you  must  occupy  the  residence  as  a  PPR  both  before  and  after  the  periods  of  absence.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Note<\/strong>:  All  periods  prior  to  6  April  1974  are  ignored  when  calculating  the  period  of  ownership.<\/p>\n<p  style=\"font-weight:  400;\">During  a  period  of  absence  you  can&#8217;t  have  another  residence  that  would  qualify  as  a  PPR.<\/p>\n<p  style=\"font-weight:  400;\">Where  the  period  of  ownership  of  a  property  does  not  qualify  as  a  period  of  residence,  or  deemed  residence,  the  gain  on  the  disposal  needs  to  be  apportioned  between  the  exempt  and  the  taxable  gain.<\/p>\n<p  style=\"font-weight:  400;\">Only  one  residence  per  individual,  or  married  couple  living  together,  qualifies  for  PPR  relief.  An  exception  to  this  rule  applies  where  a  property  is  provided,  rent  free  and  for  no  consideration,  to  a  dependent  relative,  who  uses  the  property  as  their  PPR.  Where  a  property  so  provided  is  disposed  of  and  a  gain  is  realised  then  PPR  relief  is  available  to  you  in  addition  to  the  relief  available  in  respect  of  your  own  private  residence.<\/p>\n<h4 id=\"3-farm-restructuring-relief\"  style=\"font-weight:  400;\"><strong>(3)  Farm  Restructuring  Relief<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10388  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief.jpg\" alt=\"Farm  Restructuring  Relief\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Farm-Restructuring-Relief-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you\u00a0<strong>dispose  of  land  to  make  your  farm  more  efficient<\/strong>\u00a0then  you  may  be  able  to  claim  this  relief.\u00a0<a  href=\"http:\/\/www.teagasc.ie\/\">Teagasc\u00a0<\/a>(the  Agriculture  and  Food  Development  Authority)  must  issue  a  certificate  in  order  for  you  to  claim  this  relief.<\/p>\n<p  style=\"font-weight:  400;\">This  certificate  must  state  that  you  carried  out  the  transaction  for  farm  restructuring  purposes.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Conditions<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  first  sale  or  purchase  must  be  from  1  January  2014-31  December  2023.<\/li>\n<li>The  next  sale  or  purchase  must  be  within  24  months  of  the  first  sale  or  purchase.<\/li>\n<li>You  may  also  be  able  to  claim  relief  where  you  exchanged  land  with  another  person.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  amount  of  relief  you  can  claim  will  be  reduced  if  the  land  has  a  higher  value  than  either:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Land  you  purchased<\/li>\n<li>Land  you  received  in  exchange  for  your  land<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"4-revised-entrepreneur-relief\"  style=\"font-weight:  400;\"><strong>(4)  Revised  Entrepreneur  Relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">This  relief  is  for  you  if  you  made  gains  from  the  disposal  of  business  assets.  There  is  a  lifetime  limit  of  \u20ac1  million  for  this  relief  on  gains  made  on  or  after  1  January  2016.  This  relief  replaced  a  relief  that  applied  for  the  years  2014  and  2015.<\/p>\n<p  style=\"font-weight:  400;\">With  this  relief,  you  must  pay\u00a0<strong>CGT  at  the  rate  of  10%<\/strong>\u00a0on  gains  from  the  disposal  of  business  assets.  This  is  reduced  from  the  normal  rate  of  33%.  Up  to  31  December  2016,  gains  from  such  disposals  are  charged  at  20%.<\/p>\n<h4 id=\"5-compensation-and-insurance-money\"  style=\"font-weight:  400;\"><strong>(5)  Compensation  and  insurance  money<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  must  pay  CGT  if  you  receive  compensation  or  insurance  money,  however  if  you  use  the  money  to  replace  an  asset  you  may  defer  the  CGT.<\/p>\n<p  style=\"font-weight:  400;\">The  compensation  you  get  reduces  the  cost  of  the  asset.  It  can  also  reduce  the  replacement  cost  of  the  asset  if  you  have  lost  it  or  it  was  destroyed.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Example<\/strong>:<\/p>\n<p  style=\"font-weight:  400;\">Matthew  receives  compensation  from  his  insurance  for  damage  resulting  from  a  recent  flood.  If  he  uses  the  money  to  repair  damage  to  the  property  he  can  defer  the  CGT  payment  until  the  property  is  sold.<\/p>\n<h4 id=\"6-land-or-buildings-acquired-between-7-december-2011-and-31-december-2014\"  style=\"font-weight:  400;\"><strong>(6)  Land  or  buildings  acquired  between  7  December  2011  and  31  December  2014<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  dispose  of  land  acquired  between  7  December  2011  and  31  December  2014  then  you  may  be  due  relief  on  CGT.  You  must  have  owned  the  land  or  buildings  for  at  least  7  consecutive  years.<\/p>\n<p  style=\"font-weight:  400;\">You  can  reduce  the  gain  by  the  number  of  years  you  owned  the  property  divided  by  7  years,  so  if  you  owned  land  or  buildings  for  10  years,  the  gain  will  be  reduced\u00a0<strong>by  70%<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  this  relief  in  respect  of  land  or  buildings  in  this  country  or  in  any  European  Economic  Area  (EEA)  state.<\/p>\n<h4 id=\"7-disposal-of-a-business-or-farm-other-than-to-your-child-retirement-relief\"  style=\"font-weight:  400;\"><strong>(7)  Disposal  of  a  business  or  farm  other  than  to  your  child  (Retirement  Relief)<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  55  or  older,  you  may  be  able  to  claim  relief  on  disposing  any  part  of  your  business  or  farming  assets.  Although  this  is  called  Retirement  Relief,\u00a0<strong>you  don&#8217;t  need  to  retire  to  avail  of  it<\/strong>.  The  relief  takes  the  form  of  a  reduction  in  the  CGT  payable  on  gains  accruing  on  the  disposal  of  the  qualifying  assets.<\/p>\n<p  style=\"font-weight:  400;\">In  order  for  the  disposal  to  qualify  for  the  retirement  relief,  the  following  conditions  must  be  met:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You  must  be  an  individual<\/li>\n<li>You  must  be  at  least  55  years  of  age  at  the  date  of  disposal<\/li>\n<li>The  relief  is  available  in  respect  of  qualifying  assets<\/li>\n<li>You  must  have  owned  the  qualifying  assets  and  used  those  assets  for  the  purposes  of  your  business  for  at  least  10  years  prior  to  the  date  of  disposal<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Qualifying  assets  are:<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>Business  assets<\/strong>\u00a0&#8211;  the  chargeable  business  assets  which  an  individual  has  owned  for  at  least  10  years  ending  with  a  disposal.<\/p>\n<p  style=\"font-weight:  400;\">A  chargeable  business  asset  is  an  asset  (including  goodwill  but  not  shares  or  securities  or  other  assets  held  as  investments)  which  is,  or  is  an  interest  in,  an  asset  used  for  the  purposes  of  farming,  or  a  trade,  profession,  office  or  employment,  carried  on  by  an  individual.  This  condition  does  not  extend  to  moveable  chattels  which  qualify  for  relief  irrespective  of  the  period  of  ownership.  Items  such  as  debtors,  stock,  bank  balance  etc  are  not  included  in  the  term  chargeable  business  asset,  as  no  chargeable  gain  would  result  from  their  disposal.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Shares  in  a  family  company\u00a0<\/strong>&#8211;  where  the  assets  being  disposed  of  are  shares  in  a  &#8216;family  company&#8217;  which  is  either  a  trading  company,  a  farming  company  or  a  holding  company  of  a  trading  group,  the  shares  of  which  have  been  owned  by  the  individual  for  at  least  10  years  ending  with  the  disposal  and  in  which  the  individual  has  been  a  working  director  for  at  least  ten  years  and  a  full-time  working  director  for  at  least  five  of  those  years.<\/p>\n<p  style=\"font-weight:  400;\">Shares  in  a  company  include  value  relating  to  goodwill  but  do  not  include  value  relating  to  other  shareholdings,  securities  or  other  assets  held  as  investments.<\/p>\n<p  style=\"font-weight:  400;\">A  family  company  is  a  company  where  the  individual  holds  either:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>at  least  25%  of  the  voting  rights  in  the  company;<br \/>\nor<\/li>\n<li>at  least  10%  of  the  voting  rights  and  not  less  than  75%  of  the  voting  rights  are  controlled  by  members  of  his\/her  family  (including  the  person  making  the  claim)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">&#8216;Family&#8217;  includes  spouses  and  civil  partners,  direct  relatives  (siblings,  ancestors  or  lineal  descendants)  and  direct  relatives  of  spouses  and  civil  partners.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Land,  machinery  or  plant<\/strong>\u00a0owned  by  the  individual  for  at  least  10  years  and  used  by  his  &#8216;family  company&#8217;  throughout  that  period  are  also  eligible  provided  these  assets  are  disposed  of  by  the  same  individual  at  the  same  time  and  to  the  same  person  as  the  shares  in  the  family  company.<\/p>\n<p  style=\"font-weight:  400;\">Land  used  for  the  purposes  of  farming  carried  on  by  the  individual  which  they  owned  and  used  for  a  period  of  at  least  10  years  (ending  with  the  transfer  of  an  interest  in  that  land  for  the  purposes  of  complying  with  the  schemes  of  early  retirement  from  farming  operated  by  the  Department  of  Agriculture,  Fisheries  and  Food).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Farm  land  that  is  subject  to  a  compulsory  purchase  order  by  a  local  authority  for  the  purposes  of  road  widening<\/strong>\u00a0  &#8211;  if  at  the  time  of  the  compulsory  purchase  (or  at  any  time  in  the  preceding  5  years)  the  farmer  had  let  out  the  land  then  the  farmer  must  have  used  the  land  for  the  purpose  of  farming  for  at  least  10  years  immediately  before  the  time  the  land  was  let.<\/p>\n<p  style=\"font-weight:  400;\">Land  which  has  been  owned  and  used  by  the  individual  for  the  purposes  of  farming  carried  on  by  the  individual  for  not  less  than  10  years,  and  subsequently  the  land  is  set  for  up  to  25  years  may  qualify  for  the  relief.  Where  there  is  a  disposal  to  a  third  party  of  let  land,  each  letting  of  the  land  must  be  for  a  period  of  not  less  than  5  consecutive  years.  Land  let  under  a  conacre  arrangement  may,  in  certain  circumstances,  also  qualify  for  retirement  relief.  Land  that  is  let  under  conacre  prior  to  the  disposal  to:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>A  child  at  any  time,  or<\/li>\n<li>A  third  party  where  the  disposal  occurs  on  or  before  31  December  2016<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">will  qualify  for  retirement  relief.<\/p>\n<p  style=\"font-weight:  400;\">Where  retirement  relief  is  claimed  in  a  tax  year,  you  are  prohibited  from  claiming  the  annual  exemption  of  \u20ac1,270  in  that  same  year  (even  against  other  disposals  arising  in  that  year).<\/p>\n<p  style=\"font-weight:  400;\">There  are  some  circumstances  in  which  you  may  qualify  for  this  relief  before  55:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You&#8217;re  unable  to  continue  farming  due  to  ill  health<\/li>\n<li>You  reach  the  age  of  55  within  12  months  of  the  disposal<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">For  disposals  made  up  to  and  including  31  December  2013,  you  can  claim  full  relief  if  the  market  value  at  the  time  of  disposal  doesn&#8217;t  exceed  \u20ac750,000.<\/p>\n<p  style=\"font-weight:  400;\">The  threshold  is  \u20ac500,000  if  both  of  the  following  apply:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  disposal  takes  place  on  or  after  1  January  2014,<br \/>\nand<\/li>\n<li>you&#8217;re  66  or  older<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  the  market  value  is  more  than  the  above  threshold,\u00a0<a  href=\"https:\/\/www.taxback.com\/blog\/bullsh1t-free-guide-to-paye-taxes-in-ireland?utm_ref=whc#Marginal%20relief\">marginal  relief<\/a>\u00a0may  apply  which  limits  the  CGT  to  half  the  difference  between  the  market  value  and  the  threshold.<\/p>\n<p  style=\"font-weight:  400;\">The  threshold  of  \u20ac750,000  (\u20ac500,000  after  1  January  2014  for  persons  aged  66  or  older)  is  a  lifetime  limit.  If  you  exceed  this  threshold,  relief  will  be  withdrawn  on  earlier  disposals.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"8-disposal-of-a-business-or-farm-to-your-child\"  style=\"font-weight:  400;\"><strong>(8)  Disposal  of  a  business  or  farm  to  your  child<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10389  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child.jpg\" alt=\"Disposal  of  a  business  or  farm  to  your  child\" width=\"824\" height=\"553\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child-268x180.jpg 268w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child-300x201.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child-768x515.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child-380x255.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disposal-of-a-business-or-farm-to-your-child-800x537.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  dispose  of  all  or  part  of  your  business  or  farming  assets  to  your  child,  you  may  be  entitled  to  relief  from  CGT.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Your  child  in  this  case  can  include<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>A  child  of  your  deceased  child<\/li>\n<li>A  niece  or  nephew  who  worked  full-time  in  the  business  or  farm  for  at  least  5  years<\/li>\n<li>A  foster  child  whom  you  maintained  for  at  least  5  years<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  amount  of  relief\u00a0<strong>depends  on  your  age  at  the  time  of  disposal<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Up  to  31  December  2013,  you  may  claim  full  relief  if  you&#8217;re  55  or  older<\/li>\n<li>From  1  January  2014,  you  may  claim  full  relief  if  you&#8217;re  between  55  and  65<\/li>\n<li>If  you&#8217;re  66  or  older  the  relief  is  restricted  to  \u20ac3  million<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  your  child  disposes  of  the  asset  within  6  years,  relief  will  be  withdrawn  and  your  child  must  pay  CGT  on  the  original  disposal  by  you,  in  addition  to  the  CGT  on  their  own  disposal.<\/p>\n<p  style=\"font-weight:  400;\"><strong>You  need  a  CG50A  (CGT  Clearance  Certificate)  certificate  if:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You  sell  an  asset  on  or  after  25  March  2002  for  over  \u20ac500,000<\/li>\n<li>You  sell  a  house  or  apartment  on  or  after  1  January  2016  for  over  \u20ac1  million<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  buyer  is  obliged  to  withhold  15%  of  the  purchase  price  from  you  if  you  don&#8217;t  have  a  CG50A  Form.  The  buyer  will  then  give  you  a  Form  CG50B.  This  will  allow  you  to  reclaim  the  amount  withheld  by  them  from  Revenue  at  a  later  date.<\/p>\n<p  style=\"font-weight:  400;\"><strong>You  can  apply  for  a  CG50A  using  a  Form  CG50  and  you  must  meet  at  least  1  of  the  following  criteria:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Be  resident  in  the  country<\/li>\n<li>Have  paid  CGT  on  the  disposal,  if  it&#8217;s  due<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Alternatively,  you  can  use  the  following  Tax  Clearance  Certificates:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>A  current  Tax  Clearance  Certificate<\/li>\n<li>A  certificate  of  authorisation  (C2  cert)<\/li>\n<li>A  Tax  Clearance  Certificate  issued  specifically  for  the  purpose  of  Section  980,  Taxes  Consolidation  Act  1997<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"9-disposal-of-chattels\"  style=\"font-weight:  400;\"><strong>(9)  Disposal  of  chattels<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">There  are  two  types  of  chattels  \u2013  wasting  and  non-wasting.<\/p>\n<p  style=\"font-weight:  400;\"><strong>A  wasting  chattel:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Wastes  away  over  its  life<\/li>\n<li>Has  predictable  life  of  less  than  50  years<\/li>\n<li>Examples  include  livestock,  plant  and  machinery<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">In  the  majority  of  cases,  wasting  chattels  are  exempt  from  CGT.<\/p>\n<p  style=\"font-weight:  400;\"><strong>A  non-wasting  chattel:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Does  not  waste  away  over  its  life<\/li>\n<li>Has  a  predictable  life  of  more  than  50  years<\/li>\n<li>Examples  include  antique  furniture,  paintings,  and  jewellery<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Exemption  from  CGT  only  applies  where  the  sale  proceeds  on  the  disposal  are  less  than  \u20ac2,540.  The  exemption  applies  to  every  separate  non-wasting  chattel  disposed  of  in  a  tax  year  of  assessment.  Where  the  sales  proceeds  received  are  slightly  in  excess  of  \u20ac2,540,  marginal  relief  exists  to  restrict  the  tax  payable.<\/p>\n<h3 id=\"cat-reliefs\">CAT  reliefs<\/h3>\n<h4 id=\"dwelling-house-exemption\">Dwelling  house  exemption<\/h4>\n<p  style=\"font-weight:  400;\"><strong>In  certain  circumstances,  outlined  below,  inheritances  of  dwelling  houses  may  be  exempt  from  CAT.<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>the  dwelling  house  must  be  the  principal  private  residence  of  the  disponer  (someone  who  legally  transfers  their  own  property  another  person)\u00a0at  the  date  of  their  death<\/li>\n<li>the  dwelling  house  must  have  been  continuously  occupied  by  the  beneficiary  as  their  only  or  main  residence  for  a  period  of  three  years  before  the  date  of  the  inheritance<\/li>\n<li>the  beneficiary  must  not  be  entitled  to  an  interest  in  any  other  dwelling  house  at  the  date  of  the  inheritance<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">\u00a0  and<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>the  beneficiary  must  continue  to  occupy  the  dwelling  house  as  their  only  or  main  residence  for  a  period  of  six  years  after  the  date  of  the  inheritance.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Gifts  of  dwelling  houses  to  dependent  relatives  of  a  donor  may  also  qualify  for  the  exemption  in  certain  circumstances.  A  dependent  relative  is  a  direct  relative  of  the  donor,  or  of  the  donor&#8217;s  spouse  or  civil  partner,  who  is  permanently  and  totally  incapacitated  because  of  physical  or  mental  infirmity  from  maintaining  himself  or  herself  or  who  is  over  the  age  of  65.  Where  a  gift  of  a  dwelling  house  qualifies  for  the  exemption,  the  dwelling  house  does  not  have  to  have  been  the  principal  private  residence  of  the  donor.<\/p>\n<h4 id=\"favourite-nephew-relief\"  style=\"font-weight:  400;\"><strong>Favourite  Nephew  Relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">&#8216;Favourite  Nephew  or  Niece&#8217;  Relief  allows  you  to\u00a0<strong>treat  your  nephew  or  niece  as  your  &#8216;child&#8217;  when  giving  them  a  gift  or  inheritance<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Under  this  relief,  your  nephew  or  niece  is  a  child  of  your:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>brother<\/li>\n<li>sister<\/li>\n<li>brother&#8217;s  civil  partner<\/li>\n<li>sister&#8217;s  civil  partner<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">This  relief  changes  the  relationship  of  a  nephew  or  niece  of  a  disponer  from  a  Group  Threshold  B  to  Group  Threshold  A  for  CAT  purposes.  The  Group  Threshold  A  for  the  nephew  or  niece  will  only  apply  to  business  assets  or  shares  in  a  private  trading  company.  If  non-business  assets  are  received  in  the  same  gift  or  inheritance,  the  Group  B  threshold  will  apply  to  the  non-business  assets.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<p  style=\"font-weight:  400;\"><strong>Conditions  for  the  relief<\/strong><\/p>\n<p  style=\"font-weight:  400;\">To  qualify  for  the  relief  your  nephew  or  niece  must  have  worked  substantially  (on  a  full-time  basis)  for  a  period  of  five  years  prior  to  the  gift  or  inheritance  in  carrying  on,  or  assisting  in  the  carrying  on,  the  trade,  business  or  profession,  of  the  disponer.<\/p>\n<p  style=\"font-weight:  400;\">In  order  for  the  nephew  or  niece  to  be  deemed  to  be  working  substantially  on  a  full-time  basis  in  the  business  he  or  she  must  work  at  least:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>more  than  24  hours  per  week  at  the  place  where  the  business,  trade  or  profession  is  carried  out<br \/>\nor<\/li>\n<li>more  than  15  hours  per  week  at  the  place  where  the  business,  trade  or  profession  is  carried  out  exclusively  by  the  disponer,  any  spouse  or  civil  partner  of  the  disponer  and  the  nephew  or  niece.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">In  addition  to  a  claim  for  favourite  niece\/nephew  relief,  you  could  also  be  entitled  to  claim  CAT  agricultural  relief  or  CAT  business  relief  if  you  are  eligible.<\/p>\n<h4 id=\"agricultural-relief\"  style=\"font-weight:  400;\"><strong>Agricultural  Relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Agricultural  relief  applies  in  respect  of  both  gift  tax  and  inheritance  tax.  Under  this  relief  you  will  be  charged  at  a  reduced  market  value  (or  &#8216;agricultural  value&#8217;)  on  the  particular  agricultural  property.<\/p>\n<p  style=\"font-weight:  400;\">If  you  qualify,  the  market  value  of  your  agricultural  property  will  be  reduced  by  90%.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0this  calculation  isn&#8217;t  necessarily  equivalent  to  charging  CAT  on  10%  of  the  market  value  as  deductions  from  the  (90%)  reduced  agricultural  value  may  be  allowed  in  respect  of  certain  items.<\/p>\n<p  style=\"font-weight:  400;\">To  qualify  for  agricultural  relief,\u00a0<strong>the  following  conditions  must  be  satisfied<\/strong>:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  property  or  assets  received  must  constitute  &#8216;agricultural  property&#8217;  (defined  below)  at  the  date  of  the  gift,  or  death  (in  the  case  of  an  inheritance)<\/li>\n<li>They  must  also  constitute  &#8216;agricultural  property&#8217;  on  the  valuation  date,  if  this  is  different  from  the  date  of  the  gift  or  inheritance.  The  beneficiary  must  satisfy  the  &#8216;80%  agricultural  property&#8217;  test  on  the  valuation  date  after  taking  the  property\/assets<\/li>\n<li>The  beneficiary,  or  lessee  where  the  beneficiary  leases  the  agricultural  property,  must  satisfy  the  various  &#8216;active  farmer&#8217;  requirements<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">To  qualify  it  must  be:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Agricultural  land,  pasture  and  woodland  situated  in  the  European  Union<\/li>\n<li>Crops,  trees  and  underwood  growing  on  such  land<\/li>\n<li>Farm  buildings  and  dwelling  houses  (and  the  land)  that  are  proportionate  in  size  and  character  to  the  requirements  of  the  farming  activities<\/li>\n<li>Farm  machinery  situated  on  the  property<\/li>\n<li>Livestock  and  bloodstock  on  the  property<\/li>\n<li>European  Union  &#8216;single  farm  payment&#8217;  entitlements<\/li>\n<li>Milk  quotas  where  transferred  with  agricultural  land  (Revenue  practice)  Market  gardens,  &#8216;factory&#8217;  farms  used  for  intensive  rearing\/production  and  fish  farms  do  not  constitute  agricultural  property  unless  they  are  part  of  the  agricultural  land.  However,  they  may  qualify  for  a  similar  type  of  relief  known  as  &#8216;business  relief&#8217;<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  agricultural  value  of  a  gift  or  inheritance  of  agricultural  property  is  10%  of  its  total  market  value.  A  similar  calculation  is  applied  to  deductions,  which  can  include  costs  and  expenses.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  Agricultural  Relief  through  an\u00a0<strong>IT38  return<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  you  inherit  or  receive  a  gift  of  agricultural  property  that  doesn&#8217;t  qualify  for  Agricultural  Relief,  it  may  qualify  for  Business  Relief.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"business-relief\"  style=\"font-weight:  400;\"><strong>Business  Relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  may  receive  gifts  and  inheritances  up  to  a  set  value  over  your  lifetime  before  having  to  pay  CAT.  Once  due,  it  is  charged  at  a  rate  of  33%.  &#8216;Gifts&#8217;  become  &#8216;inheritances&#8217;  if  the  person  dies  within  2  years  of  giving  the  gift.  There  is  relief  available  from  capital  acquisitions  tax  on  gifts  and  inheritances  taken  on  or  after  11  April,  1994  of  relevant  business  property.  The  relief  doesn&#8217;t  apply  to  discretionary  trust  tax.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  amounts  to  a  flat  90%  reduction  in  respect  of  the  taxable  value  of  relevant  business  property.  To  claim\u00a0<strong>Business  Relief  you  will  need  to  file  an  IT38  CAT  Return<\/strong>.<\/p>\n<h4 id=\"credit-for-cgt-paid\"  style=\"font-weight:  400;\"><strong>Credit  for  CGT  paid<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">You  may  be  entitled  to  this  relief  in  a  situation  where  there  is  both  a  Capital  Acquisitions  Tax  liability  and  a  Capital  Gains  Tax  liability  in  the  same  instance.<\/p>\n<p  style=\"font-weight:  400;\">A  credit  for  CGT  paid  may  be  claimed  against  CAT  payable  where  CGT  arises  on  the  same  event.  However,  the\u00a0<strong>CGT  credit  taken  can&#8217;t  exceed  the  CAT  liability<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">If  the  asset  is  sold  within  2  years  of  the  date  of  the  gift  or  inheritance,  the  credit  for  the  CGT  paid  will  be  withdrawn.<\/p>\n<h4 id=\"medical-expenses\"  style=\"font-weight:  400;\"><strong>Medical  Expenses<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10390  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland.jpg\" alt=\"Medical  Expenses  ireland\" width=\"824\" height=\"583\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland-254x180.jpg 254w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland-300x212.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland-768x543.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland-380x269.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Medical-Expenses-ireland-800x566.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Both  PAYE  (Pay  as  You  Earn)  and  self-assessed  workers  are  entitled  to  claim  tax  relief  on  qualifying  medical  expenses  that  accumulate  during  the  tax  year.<\/p>\n<p  style=\"font-weight:  400;\">In  the  case  of  a  qualifying  expense,  you  can  claim  back  20%  (relief  for  nursing  home  expenses  can  qualify  for  the  higher  rate  of  40%  where  applicable)  on  the  full  cost  of  the  unreimbursed  expense  back  as  a  refund  following  the  end  of  the  tax  year  in  which  you  had  the  expense.  You  can  also  go  back  4  years  to  claim  a  refund  of  expenses  you  had  in  previous  years.<\/p>\n<p  style=\"font-weight:  400;\">To  claim  medical  expenses\u00a0<strong>file  a  Med  1  form  (Med  2  form  for  dental  expenses)<\/strong>\u00a0by  the  end  of  the  tax  year  &#8211;  31  December.  You  claim  medical  expenses  based  on  costs  that  accumulated  in  the  previous  year  &#8211;  so  for  example  if  you  had  medical  expenses  in  2020,  you  can  claim  in  2021.  If  the  cost  occurs  in  a  different  year  to  which  the  treatment  took  place,  you  submit  an  expense  for  the  year  in  which  you  paid  for  the  treatment.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Qualifying  medical  expenses  include:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Doctor  and  consultant&#8217;s  fees<\/li>\n<li>Treatments\/items  prescribed  by  a  doctor  or  consultant<\/li>\n<li>Specialised  dental  treatment<\/li>\n<li>Treatment  in  a  nursing  home<\/li>\n<li>Laser-eye  surgery<\/li>\n<li>Ambulance  transport<\/li>\n<li>Routine  maternity  care<\/li>\n<li>In-vitro  fertilisation<\/li>\n<li>Specific  items  for  a  qualifying  child  with  a  lifelong  serious  illness<\/li>\n<li>Educational  psychologist&#8217;s  assessments  for  a  qualifying  child<\/li>\n<li>Qualifying  kidney  patient&#8217;s  expenses<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>The  following  if  prescribed  by  a  doctor:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Medicines\/drug  treatments<\/li>\n<li>Cost  of  gluten-free  food  for  coeliacs<\/li>\n<li>Wheelchair  or  wheelchair  lift<\/li>\n<li>Hearing  Aids<\/li>\n<li>Physiotherapy\/podiatry<\/li>\n<li>Diagnostic  procedures<\/li>\n<li>Orthopaedicbed  or  chair<\/li>\n<li>Glucometer  medicine  for  diabetic<\/li>\n<li>Engaging  a  qualified  nurse  in  the  case  of  serious  illness<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Medical  expenses  from  abroad<\/strong><\/p>\n<p  style=\"font-weight:  400;\">In  certain  circumstances  you  can  claim  for  treatment  that  took  place  abroad  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Qualifying  treatment  from  a  GP<\/li>\n<li>Qualifying  hospital  treatments  from  a  qualifying  medical  practitioner<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Tax  Relief  at  Source  (TRS)<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  may  get  a  tax  credit  if  you&#8217;re  in  a  health  insurance  scheme.  However  this  is  usually  granted  by  your  health  insurance  company  so  you  may  not  notice  when  it  is  applied.<\/p>\n<p  style=\"font-weight:  400;\">This  is  called  Tax  Relief  at  Source  (TRS).  However,  in  some  cases  TRS  doesn&#8217;t  apply,  for  example  in  the  case  where  your  employer  pays  health  insurance  on  your  behalf  so  you  may  be  able  to  apply  for  tax  relief.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"free-dental-optical-check-ups\"  style=\"font-weight:  400;\"><strong>Free  dental  &amp;  optical  check-ups<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10391  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland.jpg\" alt=\"Free  dental  &amp;  optical  check-ups  ireland\" width=\"1024\" height=\"512\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland.jpg 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland-300x150.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland-768x384.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland-380x190.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Free-dental-optical-check-ups-ireland-800x400.jpg 800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Self-employed  people  are  entitled  to  a<strong>\u00a0free  dental  and  optical  check-up  through  their  PRSI  contribution<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">The  benefits  also  extend  to  a  worker&#8217;s  dependent  spouse,  who  will  also  have  access  to  regular  dental  and  optical  examinations,  free  of  charge.  Self-employed  people  are  also  able  to  avail  of  a\u00a0<strong>grant  for  hearing  aids  of  50%  of  the  cost<\/strong>,  to  a  maximum  of  \u20ac500  per  aid,  every  four  years.<\/p>\n<h2 id=\"leaving-employment-to-return-to-education\">Leaving  employment  to  return  to  education<\/h2>\n<h3 id=\"more-and-more-people-are-choosing-to-leave-employment-and-return-to-education-if-you-leave-a-job-to-upskill-you-may-be-entitled-to-claim-tax-back\">More  and  more  people  are  choosing  to  leave  employment  and  return  to  education.  If  you  leave  a  job  to  upskill,  you  may  be  entitled  to  claim  tax  back.<\/h3>\n<p  style=\"font-weight:  400;\"><strong>For  example  if  you  pay  fees  to  attend  college,  university  or  a  training  course,  you  may  be  able  to  claim  relief.  The  limit  on  tuition  fees  you  can  claim  is  \u20ac7,000  per  course  and  you&#8217;ll  receive  relief  at  the  standard  rate  of  tax  which  is  20%.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  studying  more  than  one  third  level  course  at  the  same  time,  the  amount  of  qualifying  fees  is  restricted  to  \u20ac7,000  per  course  and  a  single  disregard  amount  (further  detail  below)  is  applied  to  the  claim.<\/p>\n<p  style=\"font-weight:  400;\">Relief  can  also  be  claimed  if  you  are  paying  for  someone  else  (for  example  a  son  or  daughter)  to  attend  college.  Self-employed  people  can  claim  the  credit  by  completing  the  Tuition  Fees  section  on  the  annual  tax  return.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0No  relief  is  available  for  examination  fees,  registration  fees  or  administration  fees.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Disregard  amounts<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>Every  claim  is  subject  to  a  single  disregard  amount  each  tax  year.  This  amount  is  taken  away  from  your  qualifying  fees  so  you  can&#8217;t  get  relief  on  that  portion  of  the  fees.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;ve  paid  fees  for  more  than  one  course  or  student,  you  only  subtract  the  disregard  amount  once.  There  are  different  disregard  amounts  for  each  year  and  for\u00a0<strong>full-time  or  part-time  courses<\/strong>.<\/p>\n<ul  style=\"font-weight:  400;\">\n<li><strong>Full-time  course:<\/strong>\u00a0\u20ac3,000<\/li>\n<li><strong>Part-time  course:\u00a0<\/strong>\u20ac1,500<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Restrictions<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>You  can&#8217;t  claim  relief  for  fees  funded  by  grants,  scholarships  or  your  employer.  If  you  get  partial  funding,  you  must  declare  it  to  Revenue  when  you  claim  tax  relief.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;ve  already  claimed  tax  relief  for  tuition  fees  and  the  fees  are  later  refunded  by  the  college,  you  must  tell  Revenue  within  21  days  of  receiving  the  refund.<\/p>\n<h4 id=\"undergraduate-courses\"  style=\"font-weight:  400;\"><strong>Undergraduate  courses<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>To  qualify  for  relief,  an  undergraduate  course  must:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>be  carried  out  in  an  approved  college<\/li>\n<li>last  at  least  2  academic  years<\/li>\n<\/ul>\n<h4 id=\"postgraduate-courses\"  style=\"font-weight:  400;\"><strong>Postgraduate  courses<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>To  qualify  for  relief,  a  postgraduate  course  must:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>be  carried  out  in  an  approved  college<\/li>\n<li>last  at  least  1  academic  year  but  no  longer  than  4  academic  years<\/li>\n<li>lead  to  a  postgraduate  award  based  on  either  a  thesis  or  an  examination<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">To  claim  relief  on  a  postgraduate  course,  you  must  already  have  an  undergraduate  degree  or  equivalent  qualification.<\/p>\n<p  style=\"font-weight:  400;\">Postgraduate  courses  in  publicly  funded  or  duly  accredited  universities  and  institutions  of  higher  education  in  non-European  Union  (EU)  Member  States  also  qualify  for  relief.<\/p>\n<h4 id=\"payment-of-tuition-fees\"  style=\"font-weight:  400;\"><strong>Payment  of  tuition  fees<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>If  you  pay  tuition  fees  in  instalments,  you  can  claim  relief  on  your  tuition  fee  instalments  either:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>in  the  tax  year  the  academic  year  commenced  or<\/li>\n<li>in  the  tax  year  in  which  you  paid  the  instalment<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  claim  relief  for  the  tax  year  when  the  instalment  was  paid,  you  must  subtract  then  disregard  the  amount  that  applies  to  that  year.  It&#8217;s  often  more  beneficial  to  claim  relief  in  the  tax  year  that  the  academic  year  commenced.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Alternatively,  if  you  pay  college  fees  in  advance,  relief  can  be  allowed  as  follows:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>If  details  of  actual  amounts  due  for  each  year  are  available,  then  that  amount  is  allowed  each  year  for  the  duration  of  the  course.  This  is  subject  to  the  ceiling  of  \u20ac7,000  per  year  along  with  the  disregard  amount  that  applies<\/li>\n<li>If  no  breakdown  of  fees  is  available,  the  relief  can  be  divided  evenly  over  the  duration  of  the  course<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"high-income-earner-restriction-hier\">High  Income  Earner  Restriction  (HIER)<\/h3>\n<p  style=\"font-weight:  400;\">This  restriction  limits  the  use  of  certain  tax  reliefs  and  exemptions  by  high  income  individuals  thus  ensuring  that  they  have  an  income  tax  liability  of  approximately  30%  on  the  income  sheltered  by  these  reliefs.<\/p>\n<p  style=\"font-weight:  400;\">The  restriction  may  apply  to  you  if:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  adjusted  income  is  greater  than  or  equal  to  \u20ac125,000  \u2013  less  if  there  is  income  that  is  normally  liable  to  tax  at  a  specific  rate  (such  as  DIRT)<\/li>\n<li>Your  specified  reliefs  are  greater  than  \u20ac80,000<\/li>\n<li>The  aggregate  of  your  specified  reliefs  used  are  greater  than  20%  of  your  adjusted  income<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  are  subject  to  HIER,  you  must  include  it  on  your  Form  11.  You  will  also  have  to  submit  a  calculation  of  the  restriction  on  a\u00a0<strong>Form  RR1<\/strong>.<\/p>\n<h4 id=\"artists-exemption\">Artist&#8217;s  exemption<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10392  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland.jpg\" alt=\"Artist's  exemption  Ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Artists-exemption-Ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Income  earned  by  writers,  composers,  visual  artists,  and  sculptors  from  the  sale  of  their  works  is  exempt  from  tax  in  Ireland  in  certain  circumstances.<\/p>\n<p  style=\"font-weight:  400;\">Revenue  determines  that\u00a0<strong>certain  artistic  works  are  original  and  creative  works<\/strong>\u00a0(recognised  as  having  cultural  or  artistic  merit).  Earnings  derived  from  these  works  are  exempt  from  income  tax  from  the  year  in  which  the  claim  is  made.  The  maximum  amount  of  income  that  can  be  exempted  is  \u20ac50,000.<\/p>\n<p  style=\"font-weight:  400;\">However,  an  artist&#8217;s  exempt  income  is  still  subject  to  USC.<\/p>\n<p  style=\"font-weight:  400;\">If  you  want  to  claim  an  Artist&#8217;s  Exemption  you  must  be  resident  or  ordinarily  resident  and  domiciled  in  an  EU  member  state  or  in  EEA  State.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Revenue  can  make  determinations  in  respect  of  artistic  works  such  as:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Books  or  other  forms  of  writing<\/li>\n<li>Plays<\/li>\n<li>Musical  compositions<\/li>\n<li>Paintings  or  other  similar  pictures<\/li>\n<li>Sculptures<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Your  work  must  be  original  and  creative  with  either  cultural  or  artistic  merit:<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>Cultural  merit  &#8211;  its  contemplation  enhances  the  quality  of  individual  or  social  life  as  a  result  of  its  intellectual,  spiritual  or  aesthetic  form  and  content.<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>Artistic  merit<\/strong>\u00a0&#8211;  its  combined  form  and  content  enhances  or  intensifies  the  aesthetic  apprehension  of  those  who  experience  or  contemplate  it.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Original  and  creative  work  &#8211;<\/strong>\u00a0The  term\u00a0<strong>original  and  creative<\/strong>\u00a0encompasses  any  unique  work  brought  into  existence  for  the  first  time  by  the  use  of  its  creator&#8217;s  imagination.<\/p>\n<p  style=\"font-weight:  400;\">A  nonfiction  book  or  other  piece  of  writing  will  be  considered  original  and  creative  only  if  it&#8217;s  an  example  of  one  of  the  following  categories  of  literature  encompassing  the  subjects  of  fiction  writing,  drama,  music,  film,  dance,  mime  or  visual  arts  and  any  related  commentaries  by  artists:<\/p>\n<h4 id=\"examples-of-non-fiction-work-considered\">Examples  of  non-fiction  work  considered:<\/h4>\n<ul  style=\"font-weight:  400;\">\n<li>Arts  criticism<\/li>\n<li>Arts  history<\/li>\n<li>Arts  subject  works<\/li>\n<li>Arts  diaries<\/li>\n<li>Autobiography<\/li>\n<li>Belles-lettres  essays<\/li>\n<li>Biography<\/li>\n<li>Cultural  dictionaries<\/li>\n<li>Literary  translation<\/li>\n<li>Literary  criticism<\/li>\n<li>Literary  history<\/li>\n<li>Literary  diaries<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>And:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  essence  of  the  work  is  the  presentation  of  the  author&#8217;s  own  ideas  or  insights  in  relation  to  the  subject  matter  and  these  ideas  or  insights  are  so  significant  that  the  work  would  be  regarded  as  a  pioneering  work  casting  new  light  on  its  subject  matter  or  changing  the  generally  accepted  understanding  of  the  subject  matter<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">or<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>the  publication  comes  fully  within  the  terms  of  reference  of  the  Heritage  Council  including  work  that  in  its  entirety,  is  a  work  of  archaeology  or  a  publication  associated  with  items  or  areas  of  significant  heritage  value<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">or<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>it&#8217;s  a  publication  that  comes  fully  within  the  terms  of  reference  of  the  National  Archives  Advisory  Council  and  relates  to  archives  concerning  Ireland  that  are  more  than  30  years  old  and  are  based  largely  on  research  from  such  archives<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>The  following  types  of  work  aren&#8217;t  regarded  as  original  and  creative:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>A\u00a0<strong>book<\/strong>\u00a0or  other  piece  of  writing  published  primarily  for  students  pursuing  a  course  of  study  or  people  engaged  in  any  trade,  profession,  vocation  or  branch  of  learning  as  an  aid  to  professional  or  other  practice  in  connection  with  the  trade,  profession,  vocation  or  branch  of  learning<\/li>\n<li><strong>Article<\/strong>\u00a0or\u00a0<strong>series  of  articles  published  in  a  newspaper,  magazine,  book<\/strong>\u00a0or  elsewhere,  except  a  book  consisting  of  a  series  of  articles  by  the  same  author  connected  by  a  common  theme  and  therefore  capable  of  existing  independently  in  its  own  right<\/li>\n<li><strong>Plays<\/strong>\u00a0written  for  advertising  purposes  that  don&#8217;t  exist  independently  in  their  own  right  by  reason  of  quality  or  duration<\/li>\n<li><strong>Musical  compositions<\/strong>\u00a0written  for  advertising  purposes  and  that  don&#8217;t  exist  independently  in  their  own  right  by  reason  of  quality  or  duration<\/li>\n<li><strong>Adaptations<\/strong>,  arrangements,  and  versions  of  musical  compositions  by  a  person  other  than  a  bona  fide  composer  actively  engaged  in  musical  composition<\/li>\n<li><strong>Photographs  or  drawings<\/strong>\u00a0(other  than  a  set  or  sets  of  photographs  or  drawings  that  are  collectively  created  for  an  artistic  purpose)  that  are  mainly  of  record,  that  serve  a  utilitarian  function  or  that  would  not  exist  independently  in  their  own  right  by  reason  of  quality  or  by  reference  to  their  potential  for  inclusion  as  part  of  an  art  exhibition<\/li>\n<li><strong>Objects<\/strong>\u00a0primarily  functional  in  nature  produced  by  processes  other  than  by  hand  or  objects  produced  by  hand  by  people  other  than  those  actively  engaged  as  bona  fide  artists  in  the  field  of  visual  arts<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"payments-to-artists-that-are-exempt-from-tax\">Payments  to  artists  that  are  exempt  from  tax<\/h4>\n<p  style=\"font-weight:  400;\"><strong>If  you  received  an  Artist&#8217;s  Exemption,  you  can  also  receive  the  following  payments  tax-free:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Arts  Council  bursaries<\/li>\n<li>Residencies  when  paid  directly  to  the  individual  by  the  Arts  Council  for  the  purpose  of  producing  a  qualifying  work<\/li>\n<li>Cnuas  payments  made  under  the  Aosd\u00e1na  Scheme<\/li>\n<li>Payments  from  the  sale  of  works  that  are  considered  eligible  under  the  Artists  Exemption  scheme<\/li>\n<li>Advance  royalties<\/li>\n<\/ul>\n<h4 id=\"advance-royalties\">Advance  royalties<\/h4>\n<p  style=\"font-weight:  400;\"><strong>If  you  earn  advance  royalties  for  the  subsequent  publication  of  a  book  or  other  piece  of  writing,  you&#8217;ll  have  to  lodge  a  claim  with  Revenue  in  the  tax  year  you  receive  the  royalties  for  them  to  be  exempt  from  tax.  When  making  your  claim  you&#8217;ll  need  to  give  confirmation  from  the  publisher  that  the  book  will  be  published  along  with  a  draft  copy  of  the  work.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  waiting  for  a  claim  to  be  granted,  any  tax  liability  that  arises  on  the  advance  must  be  paid.  If  the  claim  is  subsequently  granted  you  may  be  entitled  for  a  refund  if  appropriate.  Advance  royalties  paid  before  the  year  of  claim  are  not  exempt  from  tax.<\/p>\n<p  style=\"font-weight:  400;\"><strong>If  you  sell  books  online  to  the  US<\/strong>,  then  you  may  be  due  tax  back  in  the  form  of  a  royalty  refund.  You  can  apply  for  an  estimate  of  your  royalty  refund  here.<\/p>\n<p  style=\"font-weight:  400;\">We  get\u00a0<strong>US  royalty  refunds<\/strong>\u00a0for  sportspeople,  musicians,  artists  and  actors  so  if  you&#8217;ve  been  working  or\u00a0<strong>performing  in  the  US  on  a  P,  O,  B1  or  B2<\/strong>\u00a0visa  we  can  help  you  apply  for  a\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/usa\/royalty-tax-refunds\/\">royalty  refund<\/a>.<\/p>\n<p  style=\"font-weight:  400;\">If  you  earned  US  royalties  during  the\u00a0<strong>past  3  years<\/strong>,  you  will  have  had  up  to  30%  tax  deducted  from  your  earnings.  That  extra  income  could  come  in  very  handy  for  you  so  it&#8217;s  worth  claiming  it  back.<\/p>\n<p  style=\"font-weight:  400;\">Look  no  further.\u00a0<strong>Taxback<\/strong>\u00a0will  claim  back  most,  if  not  all  of  the  tax  withheld  from  your  US  earnings  as  far  back  as  the  past  3  tax  years  if  you  weren&#8217;t  a  resident  there  during  that  time.<\/p>\n<h4 id=\"investment-in-films\">Investment  in  Films<\/h4>\n<p  style=\"font-weight:  400;\"><strong>As  of  1  January  2015,  Film  Relief  is  only  available  to  producer  companies  in  the  film  and  film  production  industry.  A  company  can  use  film  relief  as  a  credit  against  Corporation  Tax  (CT)  and  the  amount  due  depends  on  the  production  costs  of  the  qualifying  film.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  credit  is  32%  of  whichever  is  the  lowest  of  these:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>eligible  expenditure<\/li>\n<li>80%  of  total  film  production  costs<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"childcare-services-relief\">Childcare  Services  Relief<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10394  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland.jpg\" alt=\"Childcare  Services  Relief  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Childcare-Services-Relief-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  you  provide  childminding  services\u00a0<strong>in  your  own  home<\/strong>\u00a0(as  opposed  to  the  home  of  the  child)  you  may  elect  to  claim  childcare  services  relief.  This  is  an  exemption  of  income  tax  for  income  received  from  the  provision  of  certain  childcare  services.<\/p>\n<p  style=\"font-weight:  400;\">To  qualify  for  this  exemption,  you  must  satisfy  a  number  of  conditions:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  gross  income  from  the  childminding  activity  must  not  exceed  \u20ac15,000  in  a  tax  year  (before  deductions  of  any  kind).  In  other  words,  if  your  childminding  income  exceeds  \u20ac15,000  in  a  tax  year,  the  entire  amount  will  be  liable  to  income  tax.<\/li>\n<li>The  childcare  service  must  be  provided  in  the  service  provider&#8217;s  own  home  and  the  service  can&#8217;t  be  provided  to  more  than  three  children  at  any  time  (excluding  minors  who  occupy  the  premises  as  their  sole  or  main  residence)<\/li>\n<li>You  must  claim  the  exemption  on  your  annual  income  tax  return<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">and<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Your  tax  return  must  be  accompanied  with  evidence  that  you  have  notified  the  appropriate  person,  recognised  by  the  Health  Service  Executive,  that  you  are  providing  child  minding  services.  The  notification  can  be  made  at  any  time  during  or  after  the  tax  year  to  which  it  relates,  provided  it  is  made  on  or  before  the  tax  return  filing  deadline  for  that  tax  year.  A  separate  notification  must  be  made  in  respect  of  each  tax  year  for  which  exemption  is  claimed.<\/li>\n<\/ul>\n<h2 id=\"business-and-employment-relief\">Business  and  Employment  Relief<\/h2>\n<h3 id=\"employment-and-investment-incentive-eii\">Employment  and  Investment  Incentive  (EII)<\/h3>\n<p  style=\"font-weight:  400;\"><strong>This  incentive  provides  tax  relief  for  investments  in  certain  corporate  trades  and  allows  an  individual  investor  to  obtain  income  tax  relief  on  investments.  The  scheme  was  announced  in  2011  and  replaced  the  Business  Expansion  Scheme  (BES).<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  EII  scheme  is  open  to  anyone  who  pays  income  tax  and  is  living  in  Ireland.  The  smallest  investment  is  typically  \u20ac5,000  but  if  you  want  to  be  more  adventurous  you  can  invest  up  to  \u20ac150,000  per  annum.  An  EII  investor  should  expect  to  receive  their  investment  back,  with  a  premium,  after  3  to  5  years.<\/p>\n<h3 id=\"start-your-own-business-relief\">Start  Your  Own  Business  Relief<\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  you&#8217;re  unemployed  for  at  least  12  months  and  decide  to  start  your  own  business,  you  may  qualify  for  this  relief.  The  Start  Your  Own  Business  Scheme  offers  an  exemption  from  income  tax  up  to  a  max  of  \u20ac40,000  for  every  year.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  relief  applies  to  income  tax  that  is  payable  on  your  profits  and  doesn&#8217;t  extend  to  USC  or  PRSI  so  you&#8217;ll  still  need  to  pay  this  on  any  profit.  The  scheme  runs  from  25  October  2013  to  31  December  2018.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  must  be  claimed  within  four  years  after  the  tax  year  for  which  the  claim  applies  has  ended<\/p>\n<p  style=\"font-weight:  400;\">To  qualify,  you  must  be  unemployed  for  12  months  and  in  receipt  of  any  (or  a  combination)  of  the  following  for  12  months  or  more:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Jobseeker&#8217;s  Allowance<\/li>\n<li>Jobseeker&#8217;s  Benefit<\/li>\n<li>One-Parent  Family  Payment<\/li>\n<li>Partial  Capacity  Payment<\/li>\n<li>Credited  PRSI  contributions<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  were  employed  for  a  time  but  lost  your  job  and  returned  to  the  jobseeker&#8217;s  payment,  you  can  qualify  (as  long  as  the  two  jobseeker  claims  are  not  separated  by  more  than  12  months  and  your  total  claim  is  more  than  12  months).<\/p>\n<p  style=\"font-weight:  400;\">If  you  qualify  for  the  Start  Your  Own  Business  Relief,  the  following  must  also  apply:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  business  must  be  set  up  between  25  October  2013  &#8211;  31  December  2018<\/li>\n<li>The  business  must  be  new  (not  bought,  inherited  or  otherwise  acquired)<\/li>\n<li>The  business  must  be  unincorporated  (not  be  registered  as  a  company)<\/li>\n<\/ul>\n<h3 id=\"start-up-refunds-for-entrepreneurs-sure\">Start-up  Refunds  for  Entrepreneurs  (SURE)<\/h3>\n<p  style=\"font-weight:  400;\">The  Start-Up  Refunds  for  The  Start-Up  Refunds  for  Entrepreneurs  (SURE)  scheme  replaced  the  Seed  Capital  Scheme  and  is  a  modest  tax  incentive  scheme  for  those  looking  to  set  up  a  new  company  who  were  previously  in  PAYE  employment  or  were  recently  unemployed.  The  SURE  scheme  provides  tax  relief  in  the  form  of  a  refund  of  PAYE  tax  paid  by  claimants  of  up  to  41%  of  the  capital  invested  in  the  new  business.<\/p>\n<p  style=\"font-weight:  400;\"><strong>To  qualify,  you  must:<\/strong><br \/>\nSetup  a  new  company  carrying  on  a  new  qualifying  trading  activity<\/p>\n<p  style=\"font-weight:  400;\">Mainly  have  been  earning  Pay  As  You  Earn  (PAYE)  income  in  the  previous  4  years<\/p>\n<p  style=\"font-weight:  400;\">Take  up  full-time  employment  in  the  new  company  as  a  director  or  employee<\/p>\n<p  style=\"font-weight:  400;\">Invest  cash  in  the  new  company  by  purchasing  new  ordinary  shares<\/p>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  specific  conditions  that  the  individual  and  the  companies  must  meet  in  order  to  qualify  for  this  relief.  For  more  information  on  the  qualifying  conditions  see  the  SURE  manual.<\/p>\n<h4 id=\"start-up-relief\">Start-up  Relief<\/h4>\n<p  style=\"font-weight:  400;\">If  you  want  to  start  your  own  business,  you  may  be  able  to  get  tax  relief  for  your  start-up!  This  consists  of  a  reduction  in  Corporation  Tax  for  the  first  3  years  of  trade.  The  tax  relief  can  be  applied  to  your  profits  and  on  chargeable  gains  made  on  assets.  This  scheme  has  been  extended  to  2021.<\/p>\n<p  style=\"font-weight:  400;\"><strong>You  could  claim  relief:<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Corporation  tax  due  is  \u20ac40,000  or  less  in  the  tax  year  (if  corporation  tax  is  between  \u20ac40,000  and  \u20ac60,000,  you  may  be  entitled  to  partial  relief)<\/p>\n<p  style=\"font-weight:  400;\">Your  PRSI  is  a  max  of  \u20ac5,000  per  employee  and  \u20ac40,000  on  total<\/p>\n<p  style=\"font-weight:  400;\">As  of  2013  you  have  the  possibility  of  carrying  forward  any  unused  relief  from  your  first  3  years  trading.  Certain  restrictions  may  apply.<\/p>\n<p  style=\"font-weight:  400;\"><strong>The  start-up  must:<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Be  incorporated  on  or  after  14  October  2008<\/p>\n<p  style=\"font-weight:  400;\">Be  set  up  and  trading  between  1  January  2009  and  31  December  2021<\/p>\n<p  style=\"font-weight:  400;\">Not  exceed  the  specified  levels  of  corporation  tax  due<\/p>\n<p  style=\"font-weight:  400;\">In  most  cases,  the  trade  of  a  start-up  company  set  up  between  1  January  2009  and  31  December  2018  is  a  qualifying  trade.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Trades  that  don&#8217;t  qualify  include:<\/strong><\/p>\n<p  style=\"font-weight:  400;\">One  previously  carried  on  by  another  person  with  which  the  company  has  succeeded<\/p>\n<p  style=\"font-weight:  400;\">Previously  carried  on  as  another  person&#8217;s  trade  or  profession<\/p>\n<p  style=\"font-weight:  400;\">Land  development<\/p>\n<p  style=\"font-weight:  400;\">Exploration  and  extraction  of  petroleum  or  minerals<\/p>\n<p  style=\"font-weight:  400;\">Service  company  activities  as  defined  in  Part  13  (Section  441)  of  the  Taxes  Consolidation  Act  1997<\/p>\n<p  style=\"font-weight:  400;\">Activities,  including  fishery,  aquaculture,  production  of  agricultural  products  and  the  coal  sector<\/p>\n<p  style=\"font-weight:  400;\">Activities  carried  on  by  an  associated  company  of  the  new  company  which  forms  part  of  the  trade  carried  on  by  the  associated  company<\/p>\n<p  style=\"font-weight:  400;\">If  your  company  takes  on  the  activities  of  another  trade,  while  already  claiming  relief,  the  new  trade  won&#8217;t  be  considered  a  qualifying  trade.  If  your  company  transfers  part  of  your  qualifying  trade  to  a  connected  person,  then  you&#8217;re  no  longer  entitled  to  relief  for  that  trade.<\/p>\n<p  style=\"font-weight:  400;\">The  relief  is  limited  to  the  total  amount  of  employer&#8217;s  PRSI  you  pay  and  may  be  reduced  if  you  pay  over  the  limit  of  \u20ac5,000  per  employee  or  the  total  PRSI  limit  of  \u20ac40,000.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  if  you  pay  employer&#8217;s  PRSI  of  \u20ac6,000  for  one  employee,  only  \u20ac5,000  will  be  considered  for  relief.<\/p>\n<p  style=\"font-weight:  400;\">If  your  corporation  tax  is  between  \u20ac40,000-\u20ac60,000,  then  you  may  be  able  to  claim  partial  (also  known  as  marginal)  relief  and  since  2013,  it&#8217;s  possible  to  carry  forward  unused  relief  from  the  first  3  years  of  trading.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<p  style=\"font-weight:  400;\"><strong>Back  to  work  enterprise  allowance<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>You  can  claim  Start  Your  Own  Business  Relief  if  you&#8217;re  getting  the  Back  to  Work  Enterprise  Allowance  (BTWEA).  If  you  started  to  get  the  BTWEA  before  25  October  2013,  you  won&#8217;t  qualify  for  this  relief  because  you  had  already  started  your  business  before  the  start  date  for  the  scheme.  Up  to  \u20ac40,000  is  available  on  profits  each  year  for  up  to  2  years.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Start-up  Refunds  for  Entrepreneurs  (SURE)  is  a  relief  that  provides  a  refund  of  tax  paid  in  previous  years.  You  can  avail  of  this  relief  if  you&#8217;re  an  employee  or  unemployed  person  who  has  recently  been  made  redundant  and  are  starting  your  own  business.<\/p>\n<p  style=\"font-weight:  400;\">To  qualify,  you  must:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Setup  a  new  company  carrying  on  a  new  qualifying  trading  activity<\/li>\n<li>Mainly  have  been  earning  Pay  As  You  Earn  (PAYE)  income  in  the  previous  4  years<\/li>\n<li>Take  up  full-time  employment  in  the  new  company  as  a  director  or  employee<\/li>\n<li>Invest  cash  in  the  new  company  by  purchasing  new  ordinary  shares<\/li>\n<li>Keep  purchased  shares  for  at  least  4  years<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"-4\"><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10395  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-1024x576.png\" alt=\"important  documents  for  sa  tax  return  ireland\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/important-documents-for-sa-tax-return-ireland.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<h2 id=\"-5\"><\/h2>\n<h2 id=\"-6\"><\/h2>\n<h2 id=\"-7\"><\/h2>\n<h2 id=\"-8\"><\/h2>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_17d1427ef65503d42706957ce34d2cad\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-17d1427ef65503d42706957ce34d2cad\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-17d1427ef65503d42706957ce34d2cad\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/O5wIKY-zeLQ?si=7uCcysZxt8EDyXPw\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_17d1427ef65503d42706957ce34d2cad = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/O5wIKY-zeLQ?si=7uCcysZxt8EDyXPw&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<h2 id=\"tr1-form-and-form-tr1-ft\">TR1  Form  and  Form  TR1  (FT)<\/h2>\n<p  style=\"font-weight:  400;\">If  your  taxable  non-PAYE  income  exceeds  \u20ac5,000,  or  your  gross  non-PAYE  income  exceeds  \u20ac30,000  you  are  considered  to  be  a  &#8216;<strong>chargeable  person<\/strong>&#8216;  by  Revenue  and  you  will  need  to  file  a  tax  return  Form  11  under  the  self-assessment  system.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Non-PAYE  income  includes:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Income  from  a  Trade,  Profession  or  Vocation<\/li>\n<li>Deposit  Interest<\/li>\n<li>Irish  Rental  Income<\/li>\n<li>Income  from  Fees,  Covenants,  or  Distributions  (incl.  Dividends)<\/li>\n<li>Foreign  Income<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">In  your  first  year  of  earning  non-PAYE  income,  you  will  need  to  register  as  self-employed  with  Revenue.  To  do  this  you  will  have  to  complete  a  TR1  Form  or  TR1  (FT)  Form  and  submit  it  to  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">TR1  Form  can  be  used  by\u00a0<strong>resident  individuals<\/strong>,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.<\/p>\n<p  style=\"font-weight:  400;\">TR1  (FT)  Form  can  be  used  by<strong>\u00a0non-resident  individuals<\/strong>,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.<\/p>\n<p  style=\"font-weight:  400;\">These  forms  can  also  be  used  to  register  for  VAT,  Relevant  Contracts  Tax  and\/or  Employer&#8217;s  PAYE\/PRSI.  Once  completed,  you  will  receive  a  &#8216;Notice  of  Registration&#8217;  confirming  that  your  registration  has  been  completed.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10396  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/TR1-form-ireland.jpg\" alt=\"TR1  form  ireland\" width=\"527\" height=\"742\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/TR1-form-ireland.jpg 527w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/TR1-form-ireland-128x180.jpg 128w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/TR1-form-ireland-213x300.jpg 213w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/TR1-form-ireland-380x535.jpg 380w\" sizes=\"auto, (max-width: 527px) 100vw, 527px\" \/><\/p>\n<h2 id=\"form-11\">Form  11<\/h2>\n<p  style=\"font-weight:  400;\">Chargeable  Persons  are  required  to  submit  a  Form  11  tax  return  to  Revenue  on  or  before  the  31  October  each  year.  Although,  by  filing  electronically  or  if  you  use  a  tax  agent  like\u00a0<strong>Taxback<\/strong>,  you  can  extend  this  deadline  by  approximately  two  weeks.  Revenue  will  advertise  the  final  deadline  well  in  advance.<\/p>\n<p  style=\"font-weight:  400;\">If  your  gross  non-PAYE  income  is  more  than  \u20ac30,000  or  your  net  non-PAYE  income  is  more  than  \u20ac5,000  a  year,  you  must  submit  Form  11.<\/p>\n<p  style=\"font-weight:  400;\">If  you  earned  income  from  an  Airbnb  letting  in  2023,  you  must  file  by  31  October  2024.  However  there  may  be  an  extended  deadline  if  you  file  and  pay  online  through  ROS  and  if  you  use  a  tax  agent  like\u00a0<strong>Taxback<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Company  Directors,  owning  more  than  15%  of  the  shareholding  in  a  company,  are  also  required  to  complete  a  Form  11  each  year.  There  are  differing  rules  that  apply  in  respect  of  the  surcharge  for  late  filing  of  a  tax  return  by  proprietary  directors.<\/p>\n<p  style=\"font-weight:  400;\">Tax  is  due  on  earnings  from  the  previous  year.  So,  for  example,  if  you  earn  non-PAYE  income  in  2023,  you  must  submit  your  tax  return  Form  11  and  pay  the  tax  due  by  31  October  2024.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10397  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sa-form-11-ireland.png\" alt=\"sa  form  11  ireland\" width=\"541\" height=\"773\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sa-form-11-ireland.png 541w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sa-form-11-ireland-126x180.png 126w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sa-form-11-ireland-210x300.png 210w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/sa-form-11-ireland-380x543.png 380w\" sizes=\"auto, (max-width: 541px) 100vw, 541px\" \/><\/p>\n<p  style=\"font-weight:  400;\">You  will  require  the  following  information  to  complete  a  Form  11:<\/p>\n<p  style=\"font-weight:  400;\"><strong>Personal  details<\/strong>\u00a0&#8211;  name,  date  of  birth,  PPS  number  (self  and  spouse  if  applicable)<br \/>\n<strong>Details  of  your  PAYE  Income\u00a0<\/strong>\u2013  this  can  be  found  on  your  ROS  records<br \/>\n<strong>Social  Welfare  receipts<\/strong>\u00a0\u2013  the  total  taxable  social  welfare  amounts  received  during  the  year<br \/>\n<strong>Trade\/Profession\/Vocation<\/strong>\u00a0\u2013  including  total  income,  sales,  receipts  and  a  breakdown  of  your  total  expenses.  An  accounts  extract  is  required  for  each  trade  or  profession  you  have<br \/>\n<strong>Details  of  losses  and  capital  allowances<\/strong>\u00a0(carried  forward  or  current)<br \/>\n<strong>Other  income  \u2013  for  example  Rental  income  and  related  expenses,  foreign  income,  deposit  interest,  dividends<\/strong><br \/>\n<strong>Tax  Credits<\/strong>\u00a0\u2013  details  of  all  tax  credits  you  are  entitled  to  (your  personal  tax  credits  which  have  already  been  claimed  can  be  found  on  your  TCC)<\/p>\n<p  style=\"font-weight:  400;\">You  will  also  have  to  pay  preliminary  tax  on  your  Form  11.  This  is  income  tax  for  the  current  tax  year.<\/p>\n<p  style=\"font-weight:  400;\">To  calculate  preliminary  tax,  you  choosing  one  of  the  following:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li><strong>90%<\/strong>\u00a0of  the  tax  due  for  that  year<\/li>\n<li><strong>100%<\/strong>\u00a0of  the  tax  due  for  the  preceding  year<\/li>\n<li><strong>105%<\/strong>\u00a0of  the  tax  due  for  the  pre-preceding  year  (this  option  only  applies  where  you  pay  by  direct  debit  &#8211;  it  does  not  apply  if  the  tax  due  for  the  pre-preceding  year  was  zero)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Usually,  most  people  will  not  know  their  liability  for  the  current  year  and  choose  to  pay  100%  of  the  previous  year&#8217;s  liability.  So,  for  example,  if  your  tax  liability  for  2023  is  \u20ac5,000,  your  preliminary  tax  for  2024  will  be  \u20ac5,000  also.<\/p>\n<p  style=\"font-weight:  400;\">If  you  have  not  satisfied  your  Preliminary  Tax  obligations  then  the  balance  of  your  tax  will  become  payable  immediately  upon  filing  your  return.<\/p>\n<p  style=\"font-weight:  400;\">Once  you  have  filed  your  tax  return,  you  will  receive  a  notice  of  assessment  (NOA)  from  Revenue  outlining  the  tax  payable  for  the  year.  The  NOA  will  also  show  a  breakdown  of  your  income  and  tax  credits  allowable  and  a  calculation  of  the  tax  liability.<\/p>\n<p  style=\"font-weight:  400;\">This  process  will  generally  take  a  couple  of  days  if  completed  online.  It  may  take  longer  if  submitted  by  post.  The  time  it  takes  can  also  be  affected  by  how  close  you  submit  your  tax  return  to  the  31  October  deadline.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Payment<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>You  can  pay  your  tax  liability  online  through  ROS,  or  alternatively,  you  can  send  a  cheque  or  bank  draft  directly  to  Revenue  Commissioners,  with  details  of  taxes  to  be  paid  and  your  PPS  number.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Interest  on  late  payment  of  Income  Tax  and  Capital  Gains  Tax  is  charged  at  0.0219%.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Notice  of  assessment<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>If  you  file  your  Form  11  income  tax  return  directly  with  Revenue,  your  tax  liability  will  be  automatically  calculated  and  displayed  so  that  you  can  pay.  Once  your  Form  11  is  filed,  Revenue  will  issue  you  with  a  notice  of  assessment  based  on  the  information  you  provided.  The  notice  of  assessment  will  show  a  breakdown  of  your  income  and  tax  credits  allowable  and  a  calculation  of  the  tax  liability  for  the  year.<\/strong><\/p>\n<h2 id=\"form-12\">Form  12<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10398  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-ireland.jpg\" alt=\"form  12  ireland\" width=\"512\" height=\"719\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-ireland.jpg 512w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-ireland-128x180.jpg 128w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-ireland-214x300.jpg 214w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-ireland-380x534.jpg 380w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  non-PAYE  income  in  a  year  does  not  exceed  \u20ac5,000  and  your  gross  non-PAYE  income  does  not  exceed  \u20ac30,000,  you&#8217;ll  need  to  file  a  Form  12  for  the  previous  year&#8217;s  earnings  by  the  October  deadline.<\/p>\n<p  style=\"font-weight:  400;\">You  will  typically  need  the  following  information  with  your  From  12:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li><strong>Personal  details<\/strong>\u00a0&#8211;  name,  date  of  birth,  PPS  number  (self  and  spouse  if  applicable),  current  address<\/li>\n<li><strong>Details  of  your  PAYE  Income,  P60  and  spouse&#8217;s  P60  if  applicable<\/strong><\/li>\n<li><strong>Any  details  of  extra  income  including  rental  income,  foreign  income,  capital  gains,  income  from  fees,  covenants,  distributions<\/strong><\/li>\n<li><strong>Exempt  income<\/strong><\/li>\n<li><strong>Property  based  incentives<\/strong><\/li>\n<li><strong>Tax  Credit  Certificate  or  Details  of  Tax  Credits  to  be  claimed  e.g.  PAYE  credit,  personal  credit,  medical  expenses,  single  parent  family  credit,  etc.<\/strong><\/li>\n<li><strong>Details  of  expenses  or  reliefs  to  be  claimed<\/strong><\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Form  12  can  also  be  used  to  claim  credits  and  reliefs  such  as:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Flat  rate  expenses<\/li>\n<li>Health  expenses<\/li>\n<li>Home  carer&#8217;s  tax  credit<\/li>\n<li>Medical  insurance  relief<\/li>\n<li>Nursing  home  expenses<\/li>\n<li>Single  person  child  carer  credit  (SPCCC)<\/li>\n<li>Owner  occupier  relief<\/li>\n<\/ul>\n<h3 id=\"statement-of-liability\">Statement  of  Liability<\/h3>\n<p  style=\"font-weight:  400;\">When  you  file  a  Form  12  tax  return,  you  will  be  supplied  with  a  P21  Balancing  Statement  from  Revenue.<\/p>\n<p  style=\"font-weight:  400;\">A  Statement  of  Liability  is  an  end  of  year\u00a0<strong>review  of  your  tax  liability<\/strong>.  It  details  your  total  income,  tax  credits,  tax  reliefs  and  PAYE  tax  paid  for  a  particular  tax  year.  You  can  get  one  for  the  last  four  years  and  use  it  to\u00a0<a  href=\"https:\/\/www.taxback.com\/en\/ireland\/\">claim  your  tax  refund<\/a>.<\/p>\n<h3 id=\"form-rbn1\">Form  RBN1<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10399  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Form-RBN1.jpg\" alt=\"Form  RBN1\" width=\"448\" height=\"638\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Form-RBN1.jpg 448w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Form-RBN1-126x180.jpg 126w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Form-RBN1-211x300.jpg 211w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Form-RBN1-380x541.jpg 380w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/p>\n<p  style=\"font-weight:  400;\">When  you  register  as  self-employed  you  can  choose  to  carry  out  your  business  under  a  business  name.  To  do  so,  you  will  need  to  contact  the  Companies  Registration  Office  and  complete  a  Form  RBN1  or  online  using  the  Companies  Registration  Office  (CRO).  You  will  then  be  issued  with  a  Certificate  of  Business  Name  which  you  must  display  prominently  at  your  place  of  business.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Registering  as  a  sole  trader<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  may  register  with  the  Companies  Registration  Office  (CRO)  by  completing  and  sending  them  Form  RBN1.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Registering  as  a  trust  or  partnership<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  may  register  with  CRO  by  completing  and  sending  them  a  Form  TR1.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  hoping  to\u00a0<strong>open  a  business  bank  account<\/strong>\u00a0you  will  need  a  Certificate  of  Business  Name  in  order  to  do  so.<\/p>\n<h3 id=\"assets-capital-gains-gifts-and-inheritance\">Assets  \u2013  capital  gains,  gifts  and  inheritance<\/h3>\n<p  style=\"font-weight:  400;\">If  you&#8217;ve  had  any  capital  gains  or  received  gifts  or  inheritance  during  the  year  you  may  need  to  file  separate  tax  returns  for  this  income.<\/p>\n<p  style=\"font-weight:  400;\">If  you  also  have  non-PAYE  income  to  declare,  you  can  include  your  Capital  Gains  Tax  (CGT)  liability  on  a  Form  11  or  Form  12  income  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  don&#8217;t  have  any  non-PAYE  income,  you&#8217;ll  need  to  file  a  CG1  form  to  declare  your  CGT  liability.<\/p>\n<p  style=\"font-weight:  400;\">If  you  receive  a  gift  or  inheritance,  you  may  have  to  file  a  CAT  return\u00a0<strong>IT38<\/strong>\u00a0regardless  of  whether  you  have  to  file  a  tax  return  Form  11  or  Form  12.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"capital-gain-tax-cgt\">Capital  Gain  Tax  (CGT)<\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  you  make  a  disposal  of  a  capital  asset  (for  example  foreign  currency,  shares  or  investment  property)  anytime  between  1  January  and  30  November,  you  must  file  and  pay  before  the  15  December.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  make  a  disposal  between  1  December  and  31  December,  your  payment  will  be  due  by  31  January  of  the  following  year.<\/p>\n<p  style=\"font-weight:  400;\">The  current  CGT  rate  is  33%  and  it&#8217;s  payable  by  the  person  making  the  disposal.<\/p>\n<p  style=\"font-weight:  400;\">Even  if  you&#8217;ve  made  a  loss  on  your  investment,  you&#8217;re  obliged  to  file  a  tax  return.<\/p>\n<p  style=\"font-weight:  400;\"><strong>When  filing  your  tax  return  you&#8217;ll  need  details  of:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Every  investment  disposal  you  made  throughout  the  year  (including  dates  and  values)<\/li>\n<li>Relevant  expenses  and  deductions  relating  to  each  investment<\/li>\n<li>The  value  of  profit  you  made  from  each  investment<\/li>\n<li>Details  of  any  losses  made  on  your  investments  (as  these  can  be  used  to  offset  your  gains)<\/li>\n<\/ul>\n<h4 id=\"capital-acquisitions-tax-cat-form-it38\">Capital  Acquisitions  Tax  (CAT)  \u2013  Form  IT38<\/h4>\n<p  style=\"font-weight:  400;\">If  you  receive  a  gift  or  an  inheritance,  you  may  have  to  pay  gift  Capital  Acquisitions  Tax  (CAT)  on  it.  CAT  is  charged  at  33%  on  the  taxable  value  of  a  gift  or  inheritance  received  on  or  after  6  December  2012.<\/p>\n<p  style=\"font-weight:  400;\">You&#8217;ll  be  required  to  file  a\u00a0<strong>CAT  Form  IT38<\/strong>\u00a0if  the  total  value  of  gifts\/inheritances  you  receive  is  in  excess  of  80%  of  the  relevant  tax  free  group  threshold  (further  details  below).  When  calculating  whether  you  have  reached  80%  of  your  group  threshold,  you  should  include  all  gifts  received  in  the  same  threshold  after  5  December  1991.  So,  where  the  value  of  a  gift  or  an  inheritance,  when  added  to  the  value  of  prior  aggregable  benefits  (if  any)  received  on  or  after  5  December  1991  within  the  same  group,  exceeds  80%  of  the  relevant  threshold,  a  Capital  Acquisition  Tax  return  (Form  IT38)  must  be  filed.<\/p>\n<p  style=\"font-weight:  400;\">CAT  applies  to  gifts  and  inheritances  of  property  situated  in  Ireland.  CAT  also  applies  to  gifts  and  inheritances  of  property  situated  outside  of  Ireland  if  the  person  giving  the  property  or  the  person  receiving  the  property  is  a  resident  in  Ireland  for  tax.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10400  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Acquisitions-Tax-CAT-%E2%80%93-Form-IT38.jpg\" alt=\"Capital  Acquisitions  Tax  (CAT)  \u2013  Form  IT38\" width=\"582\" height=\"824\"><\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0If  the  valuation  date  is  between\u00a0<strong>1  January  and  31  August,  the  deadline  for  your  CAT  payment  is  31  October  in  that  year<\/strong>.  If  the  valuation  date  is  between\u00a0<strong>1  September  and  31  December,  the  deadline  for  your  CAT  payment  is  31  October  in  the  following  year<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">A  variety  of  tax-free  thresholds  apply  depending  on  the  particular  relationship  between  the  disposer  (the  person  giving  the  benefit)  and  the  beneficiary  (the  person  receiving  the  benefit).  There  are  also  a  number  of  exemptions  and  reliefs  that  depend  on  the  type  of  the  gift  or  inheritance.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  if  you  get  a  gift  or  inheritance  from  your  spouse  or  civil  partner,  you&#8217;re  exempt  from  Capital  Acquisitions  Tax.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Group  thresholds  (post  09  October  2019)<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>Group  A  \u2013  threshold  \u20ac335,000<\/strong><\/p>\n<p  style=\"font-weight:  400;\">This  applies  when  the  beneficiary  of  the  gift  or  inheritance  is  a<strong>\u00a0child  of  the  person  giving  it<\/strong>.  This  includes  a  stepchild,  an  adopted  child  or  a  foster  child  in  certain  circumstances.<\/p>\n<p  style=\"font-weight:  400;\">Group  A  also  applies  to  parents  who  take  full  and  complete  ownership  of  an  inheritance  from  their  child.  This  will  be  exempt  from  tax  if,  in  the  previous  5  years,  the  child  took  an  inheritance  or  gift  from  either  parent  and  it  was  not  exempt  from  Capital  Acquisitions  Tax.<\/p>\n<p  style=\"font-weight:  400;\">If  a  grandchild  is  under  18  years  of  age  and  takes  a  gift  or  inheritance  from  their  grandparent,  Group  A  may  apply  if  the  grandchild&#8217;s  parent  is  deceased.<\/p>\n<p  style=\"font-weight:  400;\">Group  A  may  apply  to  a  nephew  or  niece  if  they  worked  in  the  business  of  the  person  giving  the  benefit  for  the  previous  5  years  and:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>are  a  blood  relation\u00a0OR  treated  as  &#8220;blood  relation&#8221;,  regardless  of  whether  or  not  this  is  technically  the  case  (this  includes  nephews\/nieces  of  the  civil  partner  of  the  spouse&#8217;s  brother  or  sister.<\/li>\n<li>the  gift  or  inheritance  consists  of  property  used  in  connection  with  the  business,  including  farming,  or  shares  in  the  company<\/li>\n<li>if  the  gift  or  inheritance  consists  of  property  then  the  nephew  or  niece  must  work  more  than  24  hours  pw  for  the  disposer  at  a  place  where  the  business  is  carried  on,  or  for  the  company  if  the  gift  or  inheritance  is  shares.  If  the  business  is  carried  on  exclusively  by  the  disposer,  their  spouse  and  the  nephew  or  niece  then  the  requirement  is  that  the  nephew  or  niece  work  more  than  15  hours  a  week.<\/li>\n<li>the  relief  doesn&#8217;t  apply  if  the  benefit  is  taken  under  a  discretionary  trust<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Although  keep  in  mind,  this  will  only  apply  for  business  assets  or  shares  in  a  private  trading  company.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Group  B  \u2013  threshold  \u20ac32,500<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>This  group  applies  to:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Parent  (who  doesn&#8217;t  take  full  and  complete  ownership  of  an  inheritance)<\/li>\n<li>Grandparent<\/li>\n<li>Grandchild  or  great  grandchild  (aside  from  the  example  in  Group  A)<\/li>\n<li>Brother  or  sister<\/li>\n<li>Nephew  or  niece  of  the  giver<\/li>\n<li>a  lineal  ancestor  or  a  lineal  descendant  of  the  person  making  the  gift<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Group  C  \u2013  threshold  \u20ac16,250<\/strong><\/p>\n<p  style=\"font-weight:  400;\">This  applies  to  any  relationship  not  included  in  Group  A  or  Group  B  and  includes\u00a0&#8220;stranger-in-blood&#8221;,  in-laws  and  cousins.<\/p>\n<p  style=\"font-weight:  400;\"><strong>To  file  a  Form  IT38  you&#8217;ll  need:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>all  basic  personal  information  about  the  people  giving  and  receiving  the  gift  or  inheritance<\/li>\n<li>details  of  the  gift  or  inheritance<\/li>\n<li>details  of  any  previous  inheritances  received  on  or  after  5  December  1991<\/li>\n<li>all  relevant  dates<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"-9\"><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10402  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland.png\" alt=\"marriage  self  assessed  tax  relief  ireland\" width=\"1600\" height=\"900\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland.png 1600w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-self-assessed-tax-relief-ireland-1160x653.png 1160w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/h3>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_8a9c12a7c7159df931622d1a49604546\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-8a9c12a7c7159df931622d1a49604546\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-8a9c12a7c7159df931622d1a49604546\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/etrH7_XTl5g?si=y_y5O7ay2z5uHlZV\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_8a9c12a7c7159df931622d1a49604546 = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/etrH7_XTl5g?si=y_y5O7ay2z5uHlZV&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;span  data-mce-type=&quot;bookmark&quot; style=&quot;display:  inline-block;  width:  0px;  overflow:  hidden;  line-height:  0;&quot; class=&quot;mce_SELRES_start&quot;&gt;\\\\ufeff&lt;\\\\\/span&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<h3 id=\"implications\">Implications<\/h3>\n<p  style=\"font-weight:  400;\"><strong>Getting  married  can  affect  many  aspects  of  your  life  in  Ireland  \u2013  ranging  from  life  insurance  and  pensions,  to  inheritance  and  presumption  of  paternity.<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>It  can  also  have  a  significant  impact  on  your  taxation  status.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">While  tax  is  not  the  most  romantic  of  reasons  to  get  married,  it  is  certainly  worth  investigating  how  getting  married  will  affect  your  tax  liability  \u2013\u00a0<strong>you  may  be  able  to  reduce  your  overall  liability<\/strong>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10403  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland.jpg\" alt=\"marriage  tax  relief  ireland\" width=\"940\" height=\"788\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland.jpg 940w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland-215x180.jpg 215w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland-300x251.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland-768x644.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland-380x319.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/marriage-tax-relief-ireland-800x671.jpg 800w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/p>\n<h2 id=\"taxation-of-married-couples-and-civil-partners\">Taxation  of  married  couples  and  civil  partners<\/h2>\n<p  style=\"font-weight:  400;\">Once  you&#8217;re  married\/registered  in  a  civil  partnership,  you  should  inform  Revenue  as  soon  as  possible.<\/p>\n<p  style=\"font-weight:  400;\">In  the  year  that  you  get  married,  or  enter  into  a  civil  partnership,  you  will  be  taxed  as  normal  \u2013  i.e.\u00a0<strong>as  single  people<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">However,  the  good  news  is  that  if  you  paid  more  tax  individually  in  that  year  than  you  would  have  if  you  were  taxed  as  a  couple,  you  can  claim  a\u00a0<strong>refund  of  the  difference<\/strong>\u00a0after  31  December.<\/p>\n<p  style=\"font-weight:  400;\">Refunds  are  normally  only  due  where  a  couple  is  taxed  at  different  rates  and  one  spouse  could  benefit  from  the  unused  standard  rate  cut-off  point  or  for  some  of  the  unused  tax  credits  of  the  other  spouse.  You  will  need  to  quote  your  own  and  your  spouse&#8217;s  Personal  Public  Service  Number  (PPS  number)  when  you  are  claiming  your  refund.<\/p>\n<p  style=\"font-weight:  400;\">Any  refund  due  will  be  from  the  date  of  marriage\/registration.  In  other  words,  the  amount  you  receive  will  be  paid  in  proportion  to  the  number  of  months  that  you  were  married\/in  civil  partnership.<\/p>\n<p  style=\"font-weight:  400;\">After  the  year  of  your  marriage,  there  are  3  options  for  calculating  tax.  You  can  pick  whichever  option  is  of  most  benefit  for  you  as  a  couple.<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Joint  assessment<\/li>\n<li>Separate  assessment<\/li>\n<li>Assessment  as  a  single  person  \/  Separate  treatment<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">For  example,  Alan  and  Jane  get  married  in  June  2023.<\/p>\n<p  style=\"font-weight:  400;\">However,  neither  Alan  nor  Jane  can  change  their  tax  status  until  January  2024.  Alan  and  Jane  can  also  look  into  whether  or  not  they&#8217;re  due  a  tax  refund  for  the  last  six  months  of  2023,  as  they  paid  tax  at  different  rates.<\/p>\n<p  style=\"font-weight:  400;\">Alan  and  Jane  can  then  choose  the  most  beneficial  tax  option  for  them  for  2024  between  joint\/separate  assessment  and  separate  treatment.<\/p>\n<h3 id=\"assessment-as-a-single-person-separate-treatment\">Assessment  as  a  single  person  \/  Separate  treatment<\/h3>\n<p  style=\"font-weight:  400;\">With  this  option  each  spouse\/civil  partner  is  treated  as  a  single  person  for  tax  reasons:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Both  spouses\/civil  partners  are  taxed  on  their  own  income<\/li>\n<li>Both  spouses\/civil  partners  get  tax  credits  and  the  same  standard  rate  cut-off  point  due  to  a  single  person<\/li>\n<li>Both  spouses\/civil  partners  pay  their  own  tax<\/li>\n<li>Both  spouses\/civil  partners  complete  their  own  return  of  income  form  and  claim  their  own  tax  credits<\/li>\n<li>One  spouse\/civil  partner  cannot  claim  relief  for  payments  made  by  the  other<\/li>\n<li>There  is  no  right  to  transfer  tax  credits  or  standard  rate  cut-off  point  to  each  other<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Opting  for  assessment  as  a  single  person  can  often  be  unfavourable,  depending  on  your  circumstances.<\/p>\n<p  style=\"font-weight:  400;\">For  example,  you  can&#8217;t  transfer  any  unused  tax  credits  or  standard  rate  cut-off  point.  Also  if  you  or  your  spouse\/civil  partner  is  caring  for  a  dependent  person,  you  can&#8217;t  claim  the  Home  Carer&#8217;s  Tax  Credit  (more  on  this  below)  even  if  you  otherwise  would  qualify  for  the  relief.<\/p>\n<p  style=\"font-weight:  400;\">With  separate  treatment,  either  spouse\/civil  partner  can  request  to  be  assessed  as  a  single  person  and  the  option  remains  until  the  person  who  claims  it  changes  his  or  her  mind.<\/p>\n<p  style=\"font-weight:  400;\">If  you  wish  to  be  singly  assessed,  you  have  to  make  the  election  before  31  December  2024.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"separate-assessment\">Separate  assessment<\/h3>\n<p  style=\"font-weight:  400;\">The  difference  between  separate  assessment  and  assessment  as  a  single  person  is  that  under  this  option,  some  tax  credits  are  divided  equally  between  you.  These  tax  credits  are:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Married  or  Civil  Partner&#8217;s  Tax  Credit<\/li>\n<li>Age  Tax  Credit<\/li>\n<li>Blind  Person&#8217;s  Tax  Credit<\/li>\n<li>Incapacitated  Child  Tax  Credit<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  balance  of  the  tax  credits  is  given  to  each  partner  in  proportion  to  the  cost  borne  by  you.  The  PAYE  tax  credit  and  expenses  (if  any),  are  allocated  to  the  appropriate  spouse\/civil  partner.  Any  tax  credits  other  than  the  PAYE  tax  credit  and  employment  expenses  that  are  unused  by  one  partner  can  be  claimed  by  the  other  spouse\/civil  partner.  The  tax  credits  are  not  usually  adjusted  until  after  the  end  of  the  tax  year.<\/p>\n<p  style=\"font-weight:  400;\">Any  tax  credits  that  are  unused  (other  than  the  PAYE  tax  credit  and  employment  expenses)  standard  rate  cut-off  point  up  to  \u20ac51,000  in  2024  (\u20ac49,000  in  2023)\u00a0which  is  not  transferable  between  partners.  The  increase  in  the  standard  rate  tax  band  of  up  to  \u20ac33,000  in  2024  (\u20ac31,000  in  2023)\u00a0is  not  transferable  between  partners.<\/p>\n<p  style=\"font-weight:  400;\">If  you  want  to  claim  separate  assessment  either  spouse  or  civil  partner  must  do  so  between  1  October  of  the  preceding  year  and  31  March  in  the  year  of  the  claim.  An  application  applies  for  the  year  of  the  claim  and  subsequent  years  and  can  only  be  withdrawn  by  the  same  spouse\/partner  who  made  the  election<\/p>\n<p  style=\"font-weight:  400;\">Each  spouse  or  civil  partner  can  complete  a  separate  return  of  his  or  her  own  income.<\/p>\n<p  style=\"font-weight:  400;\">Overall,  the  tax  you  pay  under  this  option  is  the  same  as  the  tax  you  would  pay  under  joint  assessment.<\/p>\n<h3 id=\"joint-assessment\">Joint  assessment<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10404  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland.jpg\" alt=\"Joint  assessment  tax  relief  ireland\" width=\"940\" height=\"788\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland.jpg 940w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland-215x180.jpg 215w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland-300x251.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland-768x644.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland-380x319.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Joint-assessment-tax-relief-ireland-800x671.jpg 800w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/p>\n<p  style=\"font-weight:  400;\">This  is  often  the\u00a0<strong>most  favourable  basis  of  assessment  for  a  married  couple  or  civil  partners<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">This  option&#8217;s  flexibility  makes  it  very  convenient  for  many  couples  &#8211;  especially  if  one  of  you  pays  tax  under  the  PAYE  system  and  the  other  pays  tax  under  the  self-assessment  system.<\/p>\n<p  style=\"font-weight:  400;\">You  are  automatically  assigned  to  the  joint  assessment  option  by  the  tax  office  when  you  advise  them  of  your  marriage  or  civil  partnership.  However,  you  can  still  choose  the  assessment  as  a  single  person  or  separate  assessment  options  if  you  want  to  switch.<\/p>\n<p  style=\"font-weight:  400;\">If  a  couple  is  jointly  assessed  they  are  entitled  to:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>The  married  person&#8217;s\/civil  partner&#8217;s  tax  credit<\/li>\n<li>An  increased  standard  rate  tax  band<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  choose  this  option,  you  must  inform  Revenue  before  31  March  in  the  year  of  assessment<\/p>\n<p  style=\"font-weight:  400;\">Under  joint  assessment,  the  tax  credits  and  standard  rate  cut-off  point  can  be  allocated  between  spouses  to  suit  your  own  circumstances.  For  example,  if  only  one  spouse\/civil  partner  has  taxable  income,  all  tax  credits  and  the  standard  rate  cut-off  point  will  be  given  to  the  spouse\/civil  partner  with  the  income.<\/p>\n<p  style=\"font-weight:  400;\">And,  if  both  of  you  have  taxable  income,  you  can  decide  which  of  you  is  to  be  the  assessable  spouse\/nominated  civil  partner.  You  then  ask  the  tax  office  to  allocate  the  tax  credits  and  standard  rate  cut-off  point  between  you  in  whatever  way  you  wish  (except  for  the  PAYE  tax  credit,  employment  expenses  and  the  increase  in  standard  rate  cut-off  point  of  \u20ac27,800  in  2022  as  these  are  not  transferable).<\/p>\n<p  style=\"font-weight:  400;\">If  your  tax  office  does  not  get  a  request  from  you  to  allocate  your  tax  credits  in  any  particular  way;  the  tax  office  will  normally\u00a0<strong>give  all  the  tax  credits<\/strong>\u00a0(other  than  the  other  partner&#8217;s  PAYE  and  expense  tax  credits)\u00a0<strong>to  the  spouse\/civil  partner  being  assessed<\/strong>.<\/p>\n<h3 id=\"assessable-spouse-or-civil-partner\">Assessable  spouse  or  civil  partner<\/h3>\n<p  style=\"font-weight:  400;\">With  joint  assessment  you  can  choose  whether  you  or  your  partner  will  be  the  assessable  spouse.  The  person  nominated  will  be  responsible  for  filing  tax  returns  and  paying  any  tax  due.<\/p>\n<p  style=\"font-weight:  400;\">By  not  contacting  Revenue  to  nominate  a  person,  it&#8217;s  likely  they&#8217;ll  automatically  choose  the  person  with  the  highest  income  in  the  latest  year  for  which  the  income  of  both  people  is  known.  This  person  continues  to  be  the  assessable  person  until  you  jointly  elect  to  nominate  the  other  person.<\/p>\n<h3 id=\"allocating-tax-credits\">Allocating  tax  credits<\/h3>\n<p  style=\"font-weight:  400;\">You  can  allocate  your  tax  credits  and  rate  band  however  you  wish  \u2013  provided  both  you  and  your  partner  have  taxable  income.  However,  you  can&#8217;t  transfer  the  employee  tax  credit,  employment  expense  or  increase  in  standard  rate  band.  Both  partners  will  receive  tax  credit  certificates  showing  the  allocation  of  the  credits  and  rate  band.<\/p>\n<p  style=\"font-weight:  400;\">If  you  or  your  partner  are  self-employed,  you  can  still  pick  joint  assessment.  You&#8217;ll  need  to  choose  between  paying  most  of  the  tax  under  the  PAYE  system  or  in  a  lump  sum  under  self-assessment.  You  can  do  this  by  allocating  your  credits  and  rate  band  appropriately.<\/p>\n<p  style=\"font-weight:  400;\">If  you  decide  to  pay  most  of  your  tax  through  PAYE,  your  credits  (apart  from  the  employee  tax  credit  and  employment  expenses),  should  be  allocated  to  the  self-employed  person.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"basis-of-assessment-for-cohabitants\">Basis  of  assessment  for  cohabitants<\/h3>\n<p  style=\"font-weight:  400;\">Cohabitants  continue  to  be  assessed  to  tax  as  single  persons.  Any  unused  tax  credits  or  unused  lower  tax  bands  may  not  be  transferred  between  cohabitants  to  minimise  their  aggregate  tax  liability.<\/p>\n<h3 id=\"refunds\">Refunds<\/h3>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  due  a  refund  at  the  end  of  the  year,  this  will  be  repaid  to  each  person  in  proportion  to  the  amount  of  tax  each  person  paid.<\/p>\n<h3 id=\"marriage-abroad\">Marriage  abroad<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10405  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad.jpg\" alt=\"Marriage  abroad\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Marriage-abroad-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h3 id=\"foreign-registered-relationships\"><strong>Foreign  registered  relationships<\/strong><\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  you  were  married  outside  of  Ireland,  you  may  still  be  able  to  get  the  taxation  benefits  in  Ireland.  There  are  also  a  number  of  overseas  marriages  and  civil  partnerships  Revenue  recognise  for  tax  purposes.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">This  means  that  if  your  foreign  registered  marriage  or  civil  partnership  is  recognised,  you&#8217;ll  be  taxed  in  the  same  way  as  a  couple  who  were  legally  married  in  Ireland.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Residency<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  are  resident  in  Ireland  and  your  spouse  or  civil  partner  is  not  resident  in  Ireland,  you  will  be  assessed  under  the  separate  treatment.  However:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>If  your  spouse  has  no  income,  you  can  choose  joint  assessment  and  claim  the  married  or  civil  partner&#8217;s  tax  credit  and  the  increased  rate  band<\/li>\n<li>If  both  spouses  have  income  you&#8217;ll  be  assessed  under  separate  treatment  and  taxed  on  your  income  only.  You&#8217;ll  be  able  to  claim  the  single  person&#8217;s  tax  credit  and  rate  band.  However,  if  the  tax  you  pay  individually  is  greater  than  what  you  would  have  paid  under  joint  assessment,  you  may  be  able  to  claim  additional  relief<\/li>\n<li>Where  neither  spouse  is  a  resident  in  Ireland,  your  income  will  be  taxed  in  the  same  way  as  if  one  partner  was  resident<\/li>\n<\/ul>\n<h2 id=\"unemployment\">Unemployment<\/h2>\n<p  style=\"font-weight:  400;\">There  are  a  few  options  to  consider  should  either  yourself  or  your  partner  stop  working  during  the  year.<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Firstly,  you  can  transfer  any  unused  credits  or  rate  band  to  the  other  spouse  or  civil  partner\u00a0<strong>if  you  are  jointly  assessed<\/strong><\/li>\n<li>Alternatively,  you  can<strong>\u00a0withdraw  from  separate  assessment<\/strong>\u00a0(within  the  time  limits)  and  transfer  any  unused  credits  or  rate  band  to  the  other  spouse  or  civil  partner<\/li>\n<li>Or  you  could  choose  to  switch  to  joint  assessment  if  you  are  assessed  under  separate  treatment<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h2 id=\"rate-bands-credits-and-thresholds\">Rate  bands,  credits  and  thresholds<\/h2>\n<p  style=\"font-weight:  400;\">In  a  situation  where  only  one  person  is  working,  the  2025  standard  rate  band  for  couples  in  a  marriage  or  civil  partnership  is  \u20ac53,000  (\u20ac51,000  in  2024).  This  amount  is  taxed  at  20%  and  the  balance  is  taxed  at  40%.<\/p>\n<p  style=\"font-weight:  400;\">Where  both  spouses\/civil  partners  have  income,  this  standard  rate  cut-off  point  can  be  increased  by  the  lower  of  the  following:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac35,000  in  2025  (\u20ac33,000  in  2024)<br \/>\nor<\/li>\n<li>The  amount  of  the  income  of  the  spouse\/civil  partner  with  the  smaller  income.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">You  can&#8217;t  transfer  the  increased  rate  band  between  spouses  or  civil  partners.<\/p>\n<h3 id=\"home-carer-credit\">Home  Carer  Credit<\/h3>\n<p  style=\"font-weight:  400;\">The  Home  Carer&#8217;s  Tax  Credit  is  given  to  married  couples  or  civil  partners  (who  are  jointly  assessed  for  tax)  where  one  spouse  or  civil  partner  works  in  the  home  caring  for  a  dependent  person  (a  child  eligible  for  child  benefit,  a  person  over  65  or  a  person  with  a  disability  who  requires  care  \u2013  a  dependent  person  can&#8217;t  be  a  spouse  or  civil  partner).<\/p>\n<p  style=\"font-weight:  400;\">The  tax  you&#8217;re  liable  to  pay  is  calculated  as  a  percentage  of  your  income.  A  tax  credit  is  deducted  from  this  to  give  the  actual  amount  of  tax  that  you  have  to  pay.  The  tax  credit  reduces  your  payable  tax  by  the  amount  of  the  credit.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  this  tax  credit  on  your  annual  tax  return.  However,  you  can&#8217;t  claim  both  the\u00a0<a  href=\"https:\/\/www.taxback.com\/blog\/how-do-claim-the-home-carers-tax-credit\">Home  Carer  Credit<\/a>\u00a0and  the  increased  rate  band.  You  should  claim  whichever  is  the  most  beneficial  to  you.<\/p>\n<p  style=\"font-weight:  400;\"><strong>The  HCTC  rate  for  2025  is  \u20ac1,950  (\u20ac1,800  in  2024).<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  earn  less  than  \u20ac7,200  you  can  claim  the  full  tax  credit.<\/p>\n<p  style=\"font-weight:  400;\">If  you  earn  more  than  \u20ac7,200  to  \u20ac10,400  you  will  receive  reduced  tax  credit.<\/p>\n<p  style=\"font-weight:  400;\">If  your  income  exceeds  more  than  \u20ac11,100  in  2025,  you  cannot  claim  this  credit.<\/p>\n<h4 id=\"single-persons-child-carer-credit\"  style=\"font-weight:  400;\"><strong>Single  Persons  Child  Carer  Credit<\/strong><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10406  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit.jpg\" alt=\"Single  Persons  Child  Carer  Credit\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Single-Persons-Child-Carer-Credit-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">The  Single  Person  Child  Carer  Credit  (SPCCC)  is  a  tax  credit  for  people  caring  for  children  on  their  own.  This  credit  can  be  claimed  when  you  are  filing  your  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">If  you  were  claiming  SPCCC  at  the  beginning  of  the  year  in  which  your  marriage  or  civil  partnership  is  registered,  you  can  continue  to  claim  it  for  the  remainder  of  the  year.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  claiming  SPCCC  and  your  personal  circumstances  change  during  the  year  (for  example:  you  get  married,  you  reconcile  with  an  estranged  spouse,  cohabit  OR  register  a  civil  partnership),  you  must  contact  Revenue.  The  SPCCC  will  not  be  removed  immediately,  but  will  be  removed  for  the  following  tax  year.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Year  of  Separation  or  Bereavement<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  were  separated&#8230;<\/p>\n<p  style=\"font-weight:  400;\">*  if  you  are  non-assessable  spouse\/civil  partner  you  may  claim  SPCCC  if  you  meet  all  the  conditions  to  qualify<\/p>\n<p  style=\"font-weight:  400;\">*  if  you  are  assessable  spouse\/civil  partner  &#8211;  you  cannot  claim  SPCCC,  because  you  keep  the  married  person&#8217;s  allowance<\/p>\n<p  style=\"font-weight:  400;\"><strong>Death  of  a  spouse\/  civil  partner<\/strong><\/p>\n<p  style=\"font-weight:  400;\">&#8211;  If  your  spouse\/civil  partner  dies  you  cannot  claim  SPCCC  in  the  year  of  bereavement<\/p>\n<p  style=\"font-weight:  400;\"><strong>Cease  cohabiting<\/strong><\/p>\n<p  style=\"font-weight:  400;\">&#8211;  If  you  cease  cohabiting  with  your  partner,  you  cannot  claim  SPCCC.  If  you  meet  all  the  requirements,  you  can  claim  it  for  the  next  tax  year.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"age-tax-credit\"  style=\"font-weight:  400;\"><strong>Age  Tax  Credit<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  turn  65  during  the  tax  year,  then  you&#8217;ll  be  awarded  an  Age  Tax  Credit  of  \u20ac245  if  you  are  a  single  or  widowed  surviving  civil  partner.<\/p>\n<p  style=\"font-weight:  400;\">This  amount  increases  to  \u20ac490  for  a  married  couple  or  civil  partnership  and  is  awarded  as  soon  as  either  member  of  the  couple  reaches  65.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  the  credit  if  either  you  or  your  spouse  or  civil  partner\u00a0<strong>reach  the  age  of  65  at  any  time  during  the  tax  year<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">You&#8217;re  both  entitled  to  the  credit  even  though  only  one  person  is  65.  However,  if  you  chose  to  be  assessed  under  separate  treatment,  both  partners  must  be  65  to  claim  the  credit.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10407  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland.jpg\" alt=\"Age  Tax  Credit  Ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Age-Tax-Credit-Ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h4 id=\"exemption-and-marginal-relief\"  style=\"font-weight:  400;\"><strong>Exemption  and  Marginal  Relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>You  or  your  partner  may  not  have  to  pay  any  tax  at  all  if  your  total  income  is  less  or  equal  to  the  exemption  limit.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">This  exemption  applies  to  IT  only.  It  does  not  apply  for  PRSI  and  USC.<\/p>\n<p  style=\"font-weight:  400;\">You  may  still  be  able  to  claim  marginal  relief  if  your  total  income  exceeds  the  exemption  limits.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  over  65  and  your  yearly  income  is  less  than  the  exemption,  you  may  be  exempt  from  Deposit  Interest  Retention  Tax  (DIRT).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Exemption  limits<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>If  you&#8217;re  65  years  or  over  you  won&#8217;t  pay  any  tax  where  your  total  income  is  less  than  the  following  amounts:<\/strong><\/p>\n\n<table id=\"tablepress-29\" class=\"tablepress tablepress-id-29\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Personal circumstances<\/th><th class=\"column-2\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Single, widowed or a surviving civil partner<\/td><td class=\"column-2\">\u20ac18,000<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Married or in a civil partnership<\/td><td class=\"column-2\">\u20ac36,000<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">First two children<\/td><td class=\"column-2\">\u20ac575 each<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Subsequent children<\/td><td class=\"column-2\">\u20ac830 each<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-29 from cache -->\n<p  style=\"font-weight:  400;\"><strong>With  qualifying  children,  the  exemption  limits  are  increased  by:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac575  each  for  your  first  two  children<\/li>\n<li>\u20ac830  for  each  additional  child<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>To  qualify  your  child  must  be:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>born  during  the  year<\/li>\n<li>under  18  years  of  age  at  the  start  of  the  year<\/li>\n<li>aged  over  18  and  attending  college  on  a  full-time  basis  or  trains  for  a  trade  or  profession  for  a  maximum  of  two  years<\/li>\n<li>became  incapacitated  before  they  turned  21<\/li>\n<li>became  incapacitated  after  turning  21  but  at  college  full-time,  or  training  for  a  trade  or  profession  for  a  maximum  of  2  years<\/li>\n<\/ul>\n<h4 id=\"marginal-relief\"  style=\"font-weight:  400;\"><strong>Marginal  relief<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>If  your  income  is  more  than  the  outlined  exemption  limit,  you  might  be  able  to  claim  marginal  relief.  Under  marginal  relief,  your  tax  is  calculated  in  a  different  way  in  order  to  limit  your  tax  liability.  The  relief  is  only  be  given  when  it&#8217;s  more  beneficial  than  calculating  the  tax  due  in  the  standard  way  and  using  your  tax  credits.  The  marginal  relief  rate  is  40%.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Marginal  relief  is  available  were:<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  You  or  your  spouse\/civil  partner  is  over  65<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  Your  total  income  is  less  than  twice  the  exemption  relief<\/p>\n<h2 id=\"universal-social-charge-2\">Universal  Social  Charge<\/h2>\n<p  style=\"font-weight:  400;\"><strong>The  Universal  Social  Charge  (USC)  applies  to  both  you  and  your  spouse  or  civil  partner  individually.  It&#8217;s  not  possible  to  transfer  or  combine  USC  thresholds  if  one  person  is  above  the  threshold  and  the  other  is  below.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  earn  more  than\u00a0<strong>\u20ac13,000  (gross)  per  year  you  will  have  to  pay  USC<\/strong>.  The  payment  will  be  due  when  you  complete  your  annual  Form  11  tax  return.<\/p>\n<p  style=\"font-weight:  400;\">Incomes  of  \u20ac13,000  are  exempt.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Exempt  incomes  include:<\/strong><\/p>\n<p  style=\"font-weight:  400;\">&#8211;  All  Department  of  Social  Protection  payments<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  Income  subjected  to  DIRT,  Credit  Union  dividends<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  tax  exempt  portion  of  termination  payment<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  Certain  withdraws  of  AVC  contributions  before  retirement<\/p>\n<h3 id=\"transferring-assets\">Transferring  assets<\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  you&#8217;re  living  with  your  spouse  or  civil  partner,  you  can  transfer  an  asset  to  them  without  having  to  pay  Capital  Gains  Tax.  Your  spouse\/  civil  partner  will  also  not  have  to  pay  Capital  Acquisitions  Tax  on  the  transfer  as  Revenue  will  treat  it  as  a  gift.<\/strong><\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"tax-after-bereavement-in-the-year-of-the-death\">Tax  after  bereavement  &#8211;  in  the  year  of  the  death<\/h3>\n<p  style=\"font-weight:  400;\"><strong>Single  people<\/strong><\/p>\n<p  style=\"font-weight:  400;\">In  the  year  in  which  they  die,  a  single  person  has  the  normal  tax  credits  they&#8217;re  usually  entitled  to  for  a  whole  year  \u2013  January  to  December.  If  a  tax  refund  is  due,  the  person  responsible  for  finalising  the  affairs  of  the  deceased  must  claim  it.<\/p>\n<p  style=\"font-weight:  400;\">In  this  instance,  Revenue  will  treat  widowed  people,  surviving  civil  partners,  and  unmarried  couples  in  the  same  way  as  single  people.<\/p>\n<h3 id=\"married-couples-and-civil-partners\">Married  couples  and  civil  partners<\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  your  spouse  or  civil  partner  dies,  how  you&#8217;ll  be  taxed  that  year  will  depend  on  how  you  were  taxed  as  a  couple  \u2013  for  example  whether  you  were  taxed  through  Single  Assessment,  Separate  Assessment  or  Joint  Assessment.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Single  assessment  \/  Separate  treatment<\/p>\n<p  style=\"font-weight:  400;\">If  you  were  both  taxed  through  single  assessment,  the\u00a0<strong>Widowed  Person&#8217;s  or  Surviving  Civil  Partner&#8217;s  Tax  Credit<\/strong>\u00a0(further  details  below)\u00a0will  replace  the  personal  tax  credit  that  you  had  at  the  start  of  the  year.<\/p>\n<p  style=\"font-weight:  400;\">If  a  couple  are  taxed  under  single  assessment,  the  death  of  one  spouse\/civil  partner  does  not  affect  the  taxation  of  the  other  spouse\/civil  partner.  The  surviving  spouse\/civil  partner  will  continue  to  be  taxed  as  a  single  person  on  his  or  her  own  income.  The  surviving  spouse\/civil  partner  can  elect  for  joint  assessment  before  the  end  of  the  tax  year  in  which  the  death  occurs.<\/p>\n<h4 id=\"separate-assessment-2\"  style=\"font-weight:  400;\"><strong>Separate  assessment<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  and  your  spouse\/civil  partner  have  been  taxed  under  separate  assessment,  then  the  Widowed  Person&#8217;s  or  Surviving  Civil  Partner&#8217;s  Tax  Credit  replaces  your  personal  tax  credit.  There  may  also  be  some  unused  tax  credits\/allowances  of  the  deceased  spouse\/civil  partner  that  could  be  allocated  to  the  other  spouse\/civil  partner.<\/p>\n<h4 id=\"joint-assessment-2\"  style=\"font-weight:  400;\"><strong>Joint  assessment<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">The  tax  treatment  of  a  married  couple  jointly  assessed  for  tax  in  the  year  where  one  spouse  dies  depends  on  whether  the  assessable  spouse  or  the  non-assessable  spouse  dies.<\/p>\n<h4 id=\"non-assessable-spouse\"  style=\"font-weight:  400;\"><strong>Non-assessable  spouse<\/strong><\/h4>\n<p  style=\"font-weight:  400;\"><strong>In  a  tax  year  where  a  non-assessable  spouse  dies,  the  assessable  spouse:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>is  taxable  on  his\/her  own  total  income  for  the  full  year  plus  the  total  income  of  his\/her  spouse  to  the  date  of  death<\/li>\n<li>is  entitled  to  the  full  amount  of  the  married  tax  credit  and  the  PAYE  credit  (2  PAYE  credits  if  both  have  enough  income  taxable  under  the  PAYE  system)<\/li>\n<li>the  assessable  spouse\/civil  partner  is  not  entitled  to  the  widowed  person&#8217;s  tax  credit  in  the  year  of  bereavement,  because  they  have  already  gotten  the  married  tax  credit<\/li>\n<li>may  claim  other  tax  credits  due  to  both  spouses  in  that  year<\/li>\n<\/ul>\n<h3 id=\"assessable-spouse\">Assessable  spouse<\/h3>\n<p  style=\"font-weight:  400;\"><strong>The  tax  year  in  which  an  assessable  spouse  dies  is  split  into  2  parts.<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>For  the  period  1  January  to  the  date  of  death,  the  assessable  spouse:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>is  taxable  on  his\/her  own  total  income  and  the  total  income  of  his\/her  spouse  for  this  period<\/li>\n<li>is  entitled  to  the  full  amount  of  the  married  tax  credit  and  the  PAYE  credit  (if  taxed  on  PAYE)<\/li>\n<li>may  claim  a  proportion  of  other  credits  up  to  date  of  death<\/li>\n<li>has  the  tax  rate  bands  that  apply  to  a  married  couple<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>From  the  date  of  death  to  the  end  of  the  tax  year,  the  non-assessable  spouse:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>is  assessable  on  their  own  income  for  this  period<\/li>\n<li>is  entitled  to  the  widowed  person&#8217;s  tax  credit  for  the  year  of  bereavement  and  also  the  PAYE  credit  (if  taxed  on  PAYE)<\/li>\n<li>may  claim  tax  credits  for  this  period<\/li>\n<li>has  the  tax  rate  bands  that  apply  to  a  single  or  widowed  person<\/li>\n<\/ul>\n<h3 id=\"tax-after-bereavement-following-the-year-of-the-death\">Tax  after  bereavement  \u2013  following  the  year  of  the  death<\/h3>\n<h4 id=\"widowed-persons-tax-credit\"  style=\"font-weight:  400;\"><strong>Widowed  Person&#8217;s  Tax  Credit<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">There  is  an  increased  tax  credit  available  for  widowed  people.  However,  the  amount  varies  depending  on  how  recent  the  bereavement  was  and  whether  or  not  the  surviving  spouse  has  dependent  children.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Entitlement  to  Tax  Credit  depends  upon:<\/strong><\/p>\n<p  style=\"font-weight:  400;\">&#8211;  The  method  of  tax  assessment  in  force  in  year  of  death<\/p>\n<p  style=\"font-weight:  400;\">&#8211;  Whether  it&#8217;s  the  assessable  spouse  who  dies  in  the  tax  year<\/p>\n<h4 id=\"widowed-person-without-dependent-children\"  style=\"font-weight:  400;\"><strong>Widowed  person  without  dependent  children<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">A  widowed  person  without  a  dependent  child  can  still  get  the  Married  Person  or  Civil  Partner&#8217;s  Tax  Credit  in  the  year  of  bereavement  (\u20ac4,000  for  2025).<\/p>\n<p  style=\"font-weight:  400;\">However,  each  year  following  the  year  of  bereavement,  a  widowed  person  will  receive  the  Widowed  Person  or  Surviving  Civil  Partner&#8217;s  Tax  Credit  (\u20ac2,540  in  2025).<\/p>\n<h4 id=\"widowed-person-with-dependent-children\"  style=\"font-weight:  400;\"><strong>Widowed  person  with  dependent  children<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">A  widowed  person  with  a  dependent  child  will  still  get  the  Married  Person  or  Civil  Partner&#8217;s  Tax  Credit  in  the  year  of  bereavement.  However,  in  subsequent  years  where  there  are  dependent  children,  a  Widowed  Person  or  Surviving  Civil  Partner&#8217;s  (with  dependent  children)  Tax  Credit  (\u20ac2,000  in  2025)  and  a  Single  Person  Child  Carer  Credit  (\u20ac1,900  in  2025)  are  available.<\/p>\n<p  style=\"font-weight:  400;\">A  widowed  person  with  dependent  children  will  also  be  entitled  to  claim  an  additional  tax  credit  &#8211;  the  Widowed  Parent  or  Surviving  Civil  Partner  Tax  Credit  (further  details  below)  \u2013  for  the  first  five  years  after  the  year  of  death.<\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  widowed  with  dependent  children  and  haven&#8217;t  remarried  but  are  cohabiting  with  a  partner,  you&#8217;re  not  considered  a  widowed  person  (with  dependent  children)  for  tax  purposes.  This  means  that  while  you  can  still  receive  the  Widowed  Person&#8217;s  Tax  Credit,  you  won&#8217;t  be  entitled  to  the  Widowed  Person&#8217;s  (with  dependent  children)  Tax  Credit  or  the  Single  Person  Child  Carer  Credit.<\/p>\n<p  style=\"font-weight:  400;\">If  you  haven&#8217;t  remarried  and  no  longer  have  dependent  children,  you  won&#8217;t  be  considered  as  a  widowed  person  (with  dependent  children)  and  will  instead  receive  the  Widowed  Person  or  Surviving  Civil  Partner&#8217;s  Tax  Credit.<\/p>\n<h4 id=\"widowed-parent-or-surviving-civil-partner-tax-credit\"  style=\"font-weight:  400;\"><strong>Widowed  Parent  or  Surviving  Civil  Partner  Tax  Credit<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Starting  in  the  year  after  the  year  of  bereavement,  the  Widowed  Parent  or  Surviving  Civil  Partner  Tax  Credit  is  available  for  five  years.  In  other  words,  if  you&#8217;re  bereaved  in  2023,  you&#8217;ll  start  to  receive  this  credit  in  2024.  Only  one  credit  will  be  granted,  irrespective  of  how  many  children  you  have.<\/p>\n<p  style=\"font-weight:  400;\"><strong>To  qualify:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You  mustn&#8217;t  have  remarried  by  the  start  of  the  tax  year  and  be  cohabiting<\/li>\n<li>A  qualifying  child  must  reside  with  you  for  some  part  or  all  of  the  tax  year<\/li>\n<li>The  child  must  be  under  18  or  if  over  18  be  in  full-time  education  or  undergoing  a  full-time  training  course  for  a  trade  or  profession  for  a  minimum  of  2  years<\/li>\n<li>There&#8217;s  no  age  restriction  if  the  child  became  permanently  incapacitated  when  under  21  or  in  full-time  education  or  training<\/li>\n<li>The  child  may  be  an  adopted  child,  a  stepchild  or  any  child  you  support  and  for  whom  you  have  custody<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>As  illustrated  below,  the  amount  of  tax  credit  varies  each  year.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  tax  relief  due  in  the  years  after  bereavement  is  as  follows:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>\u20ac3,600  in  the  first  year<\/li>\n<li>\u20ac3,150  in  the  second  year<\/li>\n<li>\u20ac2,700  in  the  third  year<\/li>\n<li>\u20ac2,250  in  the  fourth  year<\/li>\n<li>\u20ac1,800  in  the  fifth  year<\/li>\n<\/ul>\n<h3 id=\"tax-implications-of-separation-and-divorce\">Tax  implications  of  separation  and  divorce<\/h3>\n<p  style=\"font-weight:  400;\"><strong>There  will  likely  be  tax  implications,  if  you&#8217;re  married  and  you  decide  to  separate  or  divorce.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  believe  your  separation  will  be  permanent,  you  should  contact  Revenue  to  make  the  tax  adjustments  for  the  year  in  which  you  separated  and  for  subsequent  tax  years.<\/p>\n<h3 id=\"taxation-in-the-year-of-separation\">Taxation  in  the  year  of  separation<\/h3>\n<p  style=\"font-weight:  400;\"><strong>Depending  on  how  your  tax  was  assessed  as  a  married  couple,  there  are  a  number  of  different  ways  in  which  you  can  be  taxed  during  the  year  of  separation.  For  couples  who  are  assessed  as  single  persons,  there  is  no  change  in  their  tax  assessment.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  and  your  partner  are  taxed  under  separate  assessment,  income  up  to  the  date  of  separation  is  assessed  in  the  normal  way  and  you  can  transfer  to  each  other  any  unused  tax  credits  and  rate  bands  that  apply.<\/p>\n<p  style=\"font-weight:  400;\">After  the  date  of  separation  and  for  the  remainder  of  the  tax  year,  each  spouse  will  be  treated  as  a  single  individual  and  will  receive  the  single  person&#8217;s  tax  credit.<\/p>\n<h3 id=\"meanwhile-under-joint-assessment\">Meanwhile,  under  joint  assessment:<\/h3>\n<ul  style=\"font-weight:  400;\">\n<li>If  you&#8217;re  the  assessable  spouse,  you&#8217;ll  be  entitled  to  the  married  person&#8217;s  tax  credits  and  double  rate  bands  for  the  full  year  in  which  you  separate.  You  will  be  taxed  on  your  own  income  for  the  full  year  as  well  as  your  spouse&#8217;s  income  for  the  year  up  until  the  date  on  which  you  separated.  You  will  be  entitled  to  a  tax  deduction  for  maintenance  payments  made  for  spouses\/civil  partners  benefit  or  taxed  on  maintenance  payments  received,  under  a  legally  enforceable  separation  agreement\/  maintenance  arrangement.<\/li>\n<\/ul>\n<ul  style=\"font-weight:  400;\">\n<li>If  you&#8217;re  the  spouse  who  wasn&#8217;t  assessable,  then  you&#8217;ll  be  taxed  on  your  own  income  from  the  date  of  separation.  You  will  be  entitled  to  the  full  single  person&#8217;s  tax  credit  and  taxed  under  the  single  rate  bands.  You  will  be  taxed  on  the  maintenance  payments  received  for  your  own  benefit  or  entitled  to  a  deduction  for  the  maintenance  payments  made  for  the  spouse&#8217;s\/civil  partners  benefit,  under  a  legally  enforceable  separation  agreement\/  maintenance  arrangement.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Taxation  in  years  that  follow<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you&#8217;re  separated,  depending  on  your  circumstances,  you  may  choose  to  be  taxed  as  a  married  couple  or  single  person  after  the  year  in  which  you  separate.  Maintenance  payments  are  one  key  factor  in  deciding  which  tax  arrangement  will  apply.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"maintenance-payments\">Maintenance  payments<\/h3>\n<p  style=\"font-weight:  400;\">These  payments  are  for  the  support  of  the  other  spouse  (and\/or  children).  They&#8217;re  usually  made  under  informal  and  voluntary  agreements,  although  they  can  be  legally  enforceable.<\/p>\n<h4 id=\"voluntary-payments\"  style=\"font-weight:  400;\"><strong>Voluntary  payments<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Voluntary  maintenance  payments  are  ignored  for  tax  purposes.  So  if  you  make  a  payment  to  your  spouse,  you&#8217;re  not  entitled  to  a  tax  deduction.  If  you&#8217;re  receiving  a  maintenance  payment  from  your  spouse,  you  won&#8217;t  be  taxed  on  it.<\/p>\n<p  style=\"font-weight:  400;\">If  you  pay  voluntary  maintenance  and  it&#8217;s  your  spouse&#8217;s  main  income,  then  you  may  claim  the  married  person&#8217;s  tax  credit  rather  than  the  single  person&#8217;s  credit,  but  you&#8217;ll  still  retain  the  tax  rate  band  for  a  single  person.<\/p>\n<h4 id=\"legally-enforceable-maintenance-payments\">Legally  enforceable  maintenance  payments<\/h4>\n<p  style=\"font-weight:  400;\"><strong>This  includes  payments  made  under  a  court  order  or  ruling,  a  deed  of  separation,  or  a  covenant  or  a  trust.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Any  maintenance  payment  for  the  benefit  of  a  child  is  ignored  for  tax  purposes.<\/p>\n<p  style=\"font-weight:  400;\">If  you  make  legally  enforceable  maintenance  payments  to  support  your  spouse  (not  your  children),  you  are  entitled  to  a  tax  relief  on  the  payments  made  and  it&#8217;s  also  possible  to  get  USC  relief  on  the  payments.  Your  spouse  must  pay  tax  and  USC  on  the  payments  received.<\/p>\n<p  style=\"font-weight:  400;\">If  you  receive  maintenance  payments  and  these  are  the  only  income  that  you  have,  then  you  must  pay  the  tax  and  USC  due  under  self-assessment.<\/p>\n<p  style=\"font-weight:  400;\">If  you  and  your  spouse  decide  to  opt  to  be  taxed  as  a  married  couple  (you  both  must  be  resident  in  Ireland)  the  payments  will  be  ignored  for  tax  and  USC  purposes.  No  tax  will  be  deducted  and  no  expenses  can  be  claimed.<\/p>\n<p  style=\"font-weight:  400;\">If  you  choose  to  be  assessed  as  a  married  couple,  you  must  contact  Revenue  before  the  end  of  the  tax  year.  To  be  eligible,  you  must  be  resident  in  the  state  and  there  must  be  a  legally  enforceable  agreement  for  maintenance  payments.  Also,  if  you&#8217;re  divorced  you  must  not  have  remarried.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p  style=\"font-weight:  400;\"><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10409  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-1024x576.png\" alt=\"Unemployment  and  tax  refund  ireland\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Unemployment-and-tax-refund-ireland.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2 id=\"unemployment-2\">Unemployment<\/h2>\n<p  style=\"font-weight:  400;\"><strong>Like  all  workers,  those  that  are  self-employed  can  lose  employment  for  any  number  of  reasons.  It  can  also  be  the  case  that  the  amount  of  money  you  earn  through  your  self-employment  has  been  reduced  to  the  point  where  it  is  no  longer  a  sufficient  income.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  find  yourself  in  a  situation  like  this,\u00a0<strong>you  may  qualify  for  a  jobseeker&#8217;s  payment<\/strong>.  You  do  not  need  to  de-register  as  self-employed  to  get  a  payment.  However,  you  must  meet  the  conditions  that  apply  to  jobseeker&#8217;s  payments  (more  on  this  below).<\/p>\n<div class=\"embed-privacy-container is-disabled embed-youtube\" data-embed-id=\"oembed_cfafb16a94ff04942b407d326539f9ca\" data-embed-provider=\"youtube\" style=\"aspect-ratio: 1200\/350;\">\t\t\t\t\t\t<button type=\"button\" class=\"embed-privacy-enable screen-reader-text\">Display &#8220;YouTube  video  player&#8221; from YouTube<\/button>\t\t\t<\/p>\n<div class=\"embed-privacy-sr-message screen-reader-text\" role=\"status\" data-message=\"Content from YouTube has been loaded.\"><\/div>\n<div class=\"embed-privacy-overlay\">\n<div class=\"embed-privacy-inner\">\n<div class=\"embed-privacy-logo\" style=\"background-image: url(https:\/\/www.taxback.com\/blog\/wp-content\/plugins\/embed-privacy\/assets\/images\/embed-youtube.png?ver=1.14.0);\" aria-hidden=\"true\"><\/div>\n<p>\t\t\tClick here to display content from YouTube.\t\t\t\t\t\t<br \/>\t\t\t\t\t\tLearn more in <a href=\"https:\/\/policies.google.com\/privacy?hl=en\" target=\"_blank\" rel=\"noopener noreferrer\">YouTube\u2019s privacy policy<span class=\"embed-privacy__new-tab-notice\"> (opens in a new tab)<\/span><\/a>.\t\t\t<noscript>\t\t\t\t<br \/>\t\t\t\tPlease enable JavaScript in your browser to load this content.\t\t\t<\/noscript>\t\t<\/p>\n<p class=\"embed-privacy-input-wrapper\">\t\t\t<input id=\"embed-privacy-store-youtube-cfafb16a94ff04942b407d326539f9ca\" type=\"checkbox\" value=\"1\" class=\"embed-privacy-input\" data-embed-provider=\"youtube\">\t\t\t<label for=\"embed-privacy-store-youtube-cfafb16a94ff04942b407d326539f9ca\" class=\"embed-privacy-label\" data-embed-provider=\"youtube\">\t\t\t\tAlways display content from YouTube\t\t\t<\/label>\t\t<\/p>\n<\/p><\/div>\n<div class=\"embed-privacy-footer\"><span class=\"embed-privacy-url\"><a href=\"https:\/\/www.youtube.com\/embed\/mJeIj3YDX9M?si=4cGC1zXDcKsaCT85\">Open &#8220;YouTube  video  player&#8221; directly<\/a><\/span><\/div>\n<\/p><\/div>\n<div class=\"embed-privacy-content\">\t\t\t\t<script>var _oembed_cfafb16a94ff04942b407d326539f9ca = '{\\\"embed\\\":\\\"&lt;iframe  title=&quot;YouTube  video  player&quot; src=&quot;https:\\\\\/\\\\\/www.youtube-nocookie.com\\\\\/embed\\\\\/mJeIj3YDX9M?si=4cGC1zXDcKsaCT85&quot; width=&quot;100%&quot; height=&quot;350&quot; frameborder=&quot;0&quot; allowfullscreen=&quot;allowfullscreen&quot;&gt;&lt;span  data-mce-type=&quot;bookmark&quot; style=&quot;display:  inline-block;  width:  0px;  overflow:  hidden;  line-height:  0;&quot; class=&quot;mce_SELRES_start&quot;&gt;\\\\ufeff&lt;\\\\\/span&gt;&lt;\\\\\/iframe&gt;\\\"}';<\/script>\t\t\t<\/div>\n<\/p><\/div>\n<h2 id=\"jobseekers-benefit\">Jobseeker&#8217;s  Benefit<\/h2>\n<p  style=\"font-weight:  400;\">Generally,  if  you  are  self-employed  you  will  pay  Class  S  PRSI.<\/p>\n<p  style=\"font-weight:  400;\">Class  S  PRSI  only  covers  you  for  certain  social  welfare  payments.  It  does  not  cover  you  for  Jobseeker&#8217;s  Benefit.<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  worked  as  an  employee  in  the  last  4  years,  you  may  have  paid  Class  A  PRSI.  In  these  circumstances  you  may  be  eligible  for  Jobseeker&#8217;s  Benefit  and  you  should  apply  to  your  local  Intreo  Centre  or  social  welfare  local  office.  They  will  check  whether  you  have  enough\u00a0<strong>Class  A  contributions<\/strong>\u00a0to  get  Jobseeker&#8217;s  Benefit.<\/p>\n<p  style=\"font-weight:  400;\">You  might  also  qualify  for  Jobseeker&#8217;s  Benefit  if  you  are  employed  part-time  under  the  PAYE  system.  However,  you  must  have  lost  at  least  one  day  of  employment  and  as  a  result  of  this  loss  be  unemployed  for  at  least  4  days  out  of  7  days.  Your  earnings  must  also  have  been  reduced  because  of  the  loss  of  employment.  For  instance,  if  you  are  engaged  under  a  contract  for  service  to  work  (on  a  self-employed  basis)  for  3  days  per  week  and  unemployed  for  the  remainder  of  the  week,  you  may  qualify  for  Jobseeker&#8217;s  Benefit.<\/p>\n<p  style=\"font-weight:  400;\">If  you  do  not  qualify  for  Jobseeker&#8217;s  Benefit  you  may  get  Jobseeker&#8217;s  Allowance  instead.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10410  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland.jpg\" alt=\"Jobseeker's  Benefit  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Jobseekers-Benefit-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h2 id=\"jobseekers-allowance-ja\">Jobseeker&#8217;s  Allowance  (JA)<\/h2>\n<p  style=\"font-weight:  400;\">To  qualify  for  Jobseeker&#8217;s  Allowance  (JA)  you  must  be  habitually  resident  and  pass  a  means  test  (more  below).<\/p>\n<p  style=\"font-weight:  400;\">For  those  that  are  self-employed,  you  may  be  entitled  to  JA  depending  on  your  earnings  from  your  business.  You  do  not  need  to  close  your  business  or  stop  working  as  self-employed  for  you  to  get  JA.  Instead,  you  will  get  JA  if  your  income  is  below  a  certain  level.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"means-test\">Means  test<\/h3>\n<p  style=\"font-weight:  400;\">To  qualify  for  JA  you  have  to  satisfy  a  means  test.  The  Department  of  Social  Protection  will  examine  your  income  and  test  if  it  falls  below  a  certain  level.  In  most  cases,  a  social  welfare  inspector  will  interview  them  to  determine  your  means.<\/p>\n<p  style=\"font-weight:  400;\">If  they  find  your  income  to  be  below  that  level  you  will  qualify  for  JA.  The  amount  you  get  depends  on  your  income  level.<\/p>\n<p  style=\"font-weight:  400;\">The  means  test  for  Jobseeker&#8217;s  Allowance  can  be  a  complex  calculation.  Your  household  income  is  assessed  and  if  you  are  married,  in  a  civil  partnership  or  cohabiting,  the  means  of  your  spouse,  civil  partner  or  cohabitant  are  also  taken  into  account.  Sometimes  a  certain  amount  of  income  or  income  from  particular  sources  is  not  taken  into  account.<\/p>\n<p  style=\"font-weight:  400;\">Below  are  some  of  the  general  items  that  are  examined  during  a  means  test.<\/p>\n<h4 id=\"earnings\"  style=\"font-weight:  400;\"><strong>Earnings<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Earnings  from  your  business  will  be  assessed  in  the  means  test  for  JA.  In  your  assessment  you  must  include  details  which  reflect  the  income  you  reasonably  expect  to  get  from  your  business  over  the  next  12  months.  You  should  be  prepared  to  discuss  certain  variables  which  may  affect  your  projected  income  when  you  are  assessed  for  JA.  You  must  give  your  receipts  and  payments  (documentation  showing  money  coming  in  and  out  of  your  business)  or  audited  accounts  to  the  person  dealing  with  your  application.  This  is  to  prove  the  level  of  income  from  your  business.<\/p>\n<p  style=\"font-weight:  400;\">Earnings  are  assessed  as  gross  income  over  12  months  with  work  related  expenses  deducted.  Your  expected  annual  earnings  from  self-employment  are  then  divided  by  52  to  find  your  weekly  means  from  self-employment.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0Any  drawings  (withdrawing  cash  or  assets  from  the  business  by  the  owner(s)  for  personal  use)  taken  from  the  business  are  not  included  as  an  allowable  expense.  And,  if  your  drawings  from  the  business  are  greater  than  the  level  of  income  calculated,  the  drawings  will  be  assessed  as  cash  income.<\/p>\n<h4 id=\"allowable-expenses-2\"  style=\"font-weight:  400;\"><strong>Allowable  expenses<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">As  expenses  vary  with  the  nature  and  extent  of  self-employment,  there  is  no  complete  list  of  all  allowable  business  expenses.  The  best  rule  of  thumb  to  use  is  to  only  deduct  costs  which  were  incurred  &#8216;<strong>wholly&#8217;  and  &#8216;exclusively&#8217;\u00a0<\/strong>from  the  running  of  your  business.<\/p>\n<p  style=\"font-weight:  400;\">The  following  are  the  main  allowable  expenses  in  most  cases:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Materials  (supplies  costs)<\/li>\n<li>Motor  running  costs  (portion  applicable  to  business)<\/li>\n<li>Depreciation  of  machinery  or  equipment<\/li>\n<li>Insurance  relating  to  the  business<\/li>\n<li>Telephone  (portion  applicable  to  business)<\/li>\n<li>Lighting  and  heating  (for  business  and  not  domestic  use)<\/li>\n<li>Advertising<\/li>\n<li>Bank  charges<\/li>\n<li>Stationery<\/li>\n<li>Van\/Car  leasing<\/li>\n<\/ul>\n<h4 id=\"property-personally-used\"  style=\"font-weight:  400;\"><strong>Property  personally  used<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">The  house  in  which  you  live  is  not  included  in  the  assessment  of  your  means  unless  you  are  getting  an  income  from  it.  For  example,  if  you  rent  a  room  in  the  house,  the  income  that  you  earn  from  it  is  assessed  but  the  capital  value  of  your  home  is  not.<\/p>\n<h4 id=\"capital-and-property-not-personally-used\"  style=\"font-weight:  400;\"><strong>Capital  and  property  not  personally  used<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Property  and  investments  that  may  be  assessed  include  savings  in  a  bank  account  (or  anywhere  else),  a  house  that  you  have  let,  and  stocks  and  shares.  If  you  or  your  spouse,  civil  partner  or  cohabitant  saves  a  portion  of  your  social  welfare  payment  each  week,  these  savings  as  well  as  savings  from  most  other  sources  will  be  taken  into  account  as  part  of  your  means.<\/p>\n<p  style=\"font-weight:  400;\">If  you  own  property  (excluding  your  home)  or  you  have  investments  or  any  other  form  of  capital,  the  value  is  assessed  using  a  standard  formula  (see  below),  whether  or  not  you  are  getting  an  income  from  the  property  or  investment.<\/p>\n<p  style=\"font-weight:  400;\">The  capital  value  is  calculated  by  deducting  any  outstanding  mortgage  registered  against  the  property  from  the  market  value.  If  the  property  is  rented  you  will  not  be  assessed  on  the  actual  income  from  the  letting.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Standard  formula  for  assessing  the  value  of  capital  including  property<\/strong><\/p>\n\n<table id=\"tablepress-30\" class=\"tablepress tablepress-id-30\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Capital<\/th><th class=\"column-2\">Weekly means assessed<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">First \u20ac20,000<\/td><td class=\"column-2\">Zero<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Next \u20ac10,000<\/td><td class=\"column-2\">\u20ac1 per \u20ac1,000<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Next \u20ac10,000<\/td><td class=\"column-2\">\u20ac2 per \u20ac1,000<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Balance (\u20ac40,000 +) <\/td><td class=\"column-2\">\u20ac4 per \u20ac1,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-30 from cache -->\n<h4 id=\"joint-account\"  style=\"font-weight:  400;\"><strong>Joint  Account<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">A  joint  bank  account  that  you  share  with  your  spouse,  civil  partner  or  cohabitant  can  be  assessed  in  full  against  each  of  you.  However,  if  you  are  both  getting  means-tested  payments  it  will  be  assessed  on  a  shared  basis  or  against  only  one  of  you.<\/p>\n<p  style=\"font-weight:  400;\">In  cases  where  joint  account  holders  have  contributed  to  the  funds,  or  either  party  may  withdraw  on  his\/her  sole  signature,  each  should  be  assessed  with  an  equal  share.<\/p>\n<h4 id=\"living-with-your-parents\"  style=\"font-weight:  400;\"><strong>Living  with  your  parents<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Some  of  your  parent&#8217;s&#8217;  income  may  also  be  taken  into  account  in  a  JA  assessment.  For  instance,  if  you  are  24  years  of  age  or  under  and  you  are  living  with  a  parent  or  a  stepparent  in  the  family  home.  This  is  known  as  an  assessment  of  the  benefit  and  privilege  you  get  from  living  with  your  parents.<\/p>\n<p  style=\"font-weight:  400;\">This  means,  while  you  may  have  no  income,  your  parents&#8217;  income  can  affect  your  social  welfare  payment.  If  however,  your  only  means  are  from  the  benefit  of  your  parents&#8217;  income  and  those  means  are  less  than  the  personal  rate  of  Jobseeker&#8217;s  Allowance,  the  minimum  weekly  payment  you  are  entitled  to  is  \u20ac40.<\/p>\n<p  style=\"font-weight:  400;\">Some  people  may  still  refer  to  benefit  and  privilege  as  &#8216;board  and  lodgings&#8217;.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Total  means<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Your  means  under  the  various  headings  (for  example,  cash  income,  employment,  capital,  benefit  and  privilege)  are  added  together  to  calculate  your  total  means.  If  you  are  married,  in  a  civil  partnership  or  cohabiting  and  your  partner  is  getting  a  social  welfare  payment  in  their  own  right  your  means  may  be  halved  (more  below).<\/p>\n<p  style=\"font-weight:  400;\">Your  total  household  means  is  then  deducted  from  the  maximum  payment  for  your  situation  to  find  the  actual  amount  of  JA  you  are  entitled  to.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Maximum  payment<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  maximum  payment  for  your  situation  is  the  maximum  personal  rate  of  JA  including  any  increases  for  adult  and  child  dependents.  However,  if  you  are  married,  in  a  civil  partnership  or  cohabiting  and  your  spouse,  civil  partner  or  cohabitant  is  getting  a  social  welfare  payment  in  their  own  right,  your  joint  means  are  halved  and  the  maximum  payment  for  your  situation  will  not  include  an  increase  for  an  adult  dependent  and  will  only  include  half-rate  increases  for  your  child  dependents  (more  below).<\/p>\n<p  style=\"font-weight:  400;\">Your  age  can  also  determine  the  maximum  payment  for  your  situation.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h4 id=\"couples\"  style=\"font-weight:  400;\"><strong>Couples<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  your  spouse,  civil  partner  or  cohabitant  has  a  social  welfare  payment  in  their  own  right  (except  Child  Benefit,  Disablement  Pension,  guardian&#8217;s  payments,  Supplementary  Welfare  Allowance,  Domiciliary  Care  Allowance  or  half-rate  Carer&#8217;s  Allowance)  or  is  on  a  Further  Education  and  Training  (FET)  or  VTOS  course  and  getting  a  payment  in  their  own  right  you  cannot  claim  an  Increase  for  a  Qualified  Adult  for  them.<\/p>\n<p  style=\"font-weight:  400;\">This  means  that  the  maximum  you  can  be  paid  is  the  maximum  Jobseeker&#8217;s  Allowance  payment  for  a  single  person  plus  a  half-rate  allowance  for  each  qualified  child.<\/p>\n<p  style=\"font-weight:  400;\">In  addition,  only  50%  of  your  combined  means  are  taken  into  account  in  the  means  test  for  your  Jobseeker&#8217;s  Allowance  &#8211;  in  other  words  your  combined  means  are  halved.<\/p>\n<p  style=\"font-weight:  400;\">You  can  claim  an  increase  for  your  spouse,  civil  partner  or  cohabitant  while  they  are  taking  part  in  a  Community  Employment  (CE)  scheme.  Their  earnings  from  the  scheme  are  assessed  in  the  same  way  as  earnings  from  insurable  employment  (and  your  combined  means  are  not  halved).<\/p>\n<h4 id=\"limitation\"  style=\"font-weight:  400;\"><strong>Limitation<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  you  are  claiming  JA  and  your  spouse,  civil  partner  or  cohabitant  is  getting  one  of  the  social  welfare  payments  listed  below,  the  total  amount  paid  to  you  as  a  couple  cannot  be  more  than  the  maximum  amount  that  would  be  paid  to  one  person  (including  adult  and  child  dependents)  on  one  social  welfare  payment.<\/p>\n<p  style=\"font-weight:  400;\">Where  a  couple  are  both  claiming  JA  in  their  own  right  the  rate  paid  to  each  person  is  half  of  the  family  rate.  If  one  or  both  of  the  couple  is  aged  26  or  under,  each  person  is  paid  half  of  the  family  rate  that  would  apply  to  them  individually.  The  total  amount  payable  to  a  couple  where  one  or  both  are  under  26  can  vary  depending  on  who  makes  the  claim  (see  examples  below).<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Illness  Benefit<\/li>\n<li>Disablement  Pension  (when  paid  with  Illness  Benefit  or  Incapacity  Supplement)<\/li>\n<li>Injury  Benefit<\/li>\n<li>Invalidity  Pension<\/li>\n<li>State  Pension  (Non-Contributory)<\/li>\n<li>State  Pension  (Contributory)<\/li>\n<li>State  Pension  (Transition)<\/li>\n<li>Jobseeker&#8217;s  Benefit<\/li>\n<li>Jobseeker&#8217;s  Allowance<\/li>\n<li>Pre-Retirement  Allowance  (PRETA)<\/li>\n<li>Farm  Assist  (FA)<\/li>\n<\/ul>\n<h4 id=\"appeal\"  style=\"font-weight:  400;\"><strong>Appeal<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Where  a  self-employed  person&#8217;s  situation  changes  after  they  have  made  an  initial  claim  for  JA,  they  can  apply  to  have  their  means  reviewed.  Also  it&#8217;s  up  to  the  individual,  if  they  are  dissatisfied  with  the  means  assessment,  to  appeal  it  to  the  Social  Welfare  Appeals  Office.<\/p>\n<h4 id=\"supplementary-welfare-allowance\"  style=\"font-weight:  400;\"><strong>Supplementary  Welfare  Allowance<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">If  your  weekly  income  is  below  the  Supplementary  Welfare  Allowance  rate  for  your  family  size,  you  may  be  eligible  for  a  payment  to  bring  your  income  up  to  the  appropriate  Supplementary  Welfare  Allowance  rate.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>If  you  are  working  more  than  30  hours  per  week  you  can&#8217;t  receive  Supplementary  Welfare  Allowance<\/li>\n<li>If  you  have  claimed  a  jobseeker&#8217;s  payment  but  it  has  not  yet  been  paid  and  you  have  no  other  income,  you  may  qualify  for  Supplementary  Welfare  Allowance  while  you  are  awaiting  payment<\/li>\n<\/ul>\n<h3 id=\"other-benefits\"  style=\"font-weight:  400;\"><strong>Other  benefits<\/strong><\/h3>\n<h4 id=\"health\"  style=\"font-weight:  400;\"><strong>Health<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Depending  on  your  level  of  income  you  may  be  entitled  to  receive  a  medical  card  or  a  GP  visit  card.<\/p>\n<h4 id=\"school\"  style=\"font-weight:  400;\"><strong>School<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">The  Back  to  School  Clothing  and  Footwear  Allowance  Scheme  operates  from  1  June  to  30  September  each  year.  The  scheme  helps  parents  to  pay  costs  associated  with  children  attending  school  \u2013  such  as  uniforms  and  footwear.<\/p>\n<h4 id=\"urgent\"  style=\"font-weight:  400;\"><strong>Urgent<br \/>\n<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Help  is  also  available  to  cope  with  exceptional  or  urgent  circumstances  which  may  arise.  For  example,  if  you  need  help  with  a  funeral  bill,  a  range  of  discretionary  payments  are  provided  by  the  Department  of  Social  Protection&#8217;s  representative  in  your  local  health  centre.<\/p>\n<h2 id=\"class-s-prsi\">Class  S  PRSI<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10411  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI.png\" alt=\"Class  S  PRSI\" width=\"824\" height=\"824\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI.png 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-180x180.png 180w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-150x150.png 150w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-300x300.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-768x768.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-80x80.png 80w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-380x380.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Class-S-PRSI-800x800.png 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h3 id=\"rates-of-contribution\"  style=\"font-weight:  400;\"><strong>Rates  of  contribution<\/strong><\/h3>\n<p  style=\"font-weight:  400;\"><strong>Self-employed  people  between  the  ages  of  16  and  66  pay  Class  S  PRSI  at  4%  (or  \u20ac500,  whichever  is  greater)  on  all  taxable  income  (gross  income  less  allowable  expenses).<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Those  that  earn  less  than  \u20ac5,000  from  self-employment  in  a  year  are  exempt  from  PRSI,  but  may  be  entitled  to  pay  \u20ac500  as  a  voluntary  contributor  (more  on  this  below).<\/p>\n<h3 id=\"voluntary-contributions-of-prsi\"  style=\"font-weight:  400;\"><strong>Voluntary  contributions  of  PRSI<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">If  you  are  between  the  age  of  16  and  66  and  are  no  longer  covered  by  compulsory  PRSI  by  way  of  insurable  employment,  self-employment  or  credited  contributions  you  can  opt  to  pay  Voluntary  contributions  of  PRSI.<\/p>\n<p  style=\"font-weight:  400;\">By  making  voluntary  contributions  you  can  maintain  or  improve  your  contributory  pension  entitlements.<\/p>\n<p  style=\"font-weight:  400;\">In  order  to  be  admitted  as  a  voluntary  contributor  you  must:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>have  at  least  520  PRSI  contributions  paid\u00a0  under  compulsory  insurance  in  either  employment  or  self-employment<\/li>\n<li>apply  within  60  months  from  the  end  of  the  PRSI  contribution  year  in  which  a  PRSI  contribution  was  last  paid  or  credited<\/li>\n<li>agree  to  pay  voluntary  contributions  from  the  start  of  the  contribution  week  after  the  week  in  which  you  last  paid  compulsory  PRSI  or  had  a  credited  contribution<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  are  applying  to  become  a  voluntary  contributor:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>on  or  after  6  April  2013,  you  will  need  364  weeks  PRSI  paid<\/li>\n<li>on  or  after  6  April  2014,  you  will  need  468  weeks  PRSI  paid<br \/>\nor<\/li>\n<li>on  or  after  6  April  2015,  you  will  need  520  weeks  PRSI  paid<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">The  rate  of  voluntary  contributions  payable  is  always  determined  by  the  last  rate  of  PRSI  contribution  paid  by  a  person.  There  are  three  different  rates  of  voluntary  contributions.<\/p>\n<p  style=\"font-weight:  400;\"><strong>High  Rate:<\/strong>\u00a0This  rate  is  payable  if  the  last  PRSI  contribution  paid  was  at  Class  A,  E  or  H.  The  amount  payable  in  each  contribution  year  is  currently  6.6%  of  reckonable  income  in  the  preceding  contribution  year.  The  minimum  annual  payment  is  \u20ac500.<\/p>\n<p  style=\"font-weight:  400;\"><strong>High  rate  voluntary  contributions  provide  cover  for:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>State  pension  (transition)<\/li>\n<li>State  pension  (contributory)<\/li>\n<li>Widow&#8217;s,  widower&#8217;s  or  surviving  civil  partner&#8217;s  (contributory)  pension<\/li>\n<li>Guardian&#8217;s  payment  (contributory)<\/li>\n<li>Bereavement  grant<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Low  Rate:<\/strong>\u00a0This  rate  is  payable  if  the  last  PRSI  contribution  paid  was  at  Class  B,  C  or  D.  The  amount  payable  in  each  contribution  year  is  currently  2.6%  of  reckonable  income  in  the  preceding  contribution  year.  The  minimum  annual  payment  is  \u20ac250.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Low  rate  voluntary  contributions  provide  cover  for:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Widow&#8217;s,  widower&#8217;s  or  surviving  civil  partner&#8217;s  (contributory)  pension<\/li>\n<li>Guardian&#8217;s  payment  (contributory)<\/li>\n<li>Bereavement  grant<\/li>\n<li>Special  Rate:  This  rate  is  payable  if  the  last  PRSI  contribution  paid  was  Class  S  \u2013  self-employed.  The  amount  payable  is  currently  \u20ac500  per  year.<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Special  rate<\/strong>\u00a0voluntary  contributions  (those  paid  by  people  who  were  previously  self-employed  and  paying  Class  S  PRSI)  provide  cover  for:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>State  pension  (contributory)<\/li>\n<li>Widow&#8217;s,  widower&#8217;s  or  surviving  civil  partner&#8217;s  (contributory)  pension<\/li>\n<li>Guardian&#8217;s  payment  (contributory)<\/li>\n<li>Bereavement  grant<\/li>\n<li>Maternity  Benefit<\/li>\n<li>Adoptive  Benefit<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"further-supports-available\">Further  supports  available<\/h3>\n<p  style=\"font-weight:  400;\"><strong>If  you  are  unemployed,  there  are  a  number  of  support  schemes  available  which  can  help  you  to  start  your  own  company.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">The  Back  to  Work  Enterprise  Allowance  (BTWEA)  Scheme  and  the  Short  Term  Enterprise  Allowance  (STEA)  Scheme  encourage  those  receiving  certain  social  welfare  payments  to  become  self-employed.<\/p>\n<p  style=\"font-weight:  400;\">Meanwhile  the  Start  Your  Own  Business  Relief  provides  relief  from  income  tax  to  people  who  are  unemployed  for  at  least  12  months  and  who  set  up  a  qualifying  business.  It  runs  from  23  October  2013  to  31  December  2018.<\/p>\n<p  style=\"font-weight:  400;\">New  Frontiers  is  a  development  programme  for  potential  entrepreneurs,  funded  and  coordinated  by  Enterprise  Ireland,  which  is  delivered  locally  by  Institutes  of  Technology.<\/p>\n<p>\n\u00a0\n<\/p>\n<h3 id=\"back-to-work-enterprise-allowance\">Back  to  Work  Enterprise  Allowance<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10412  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance.jpg\" alt=\"Back  to  Work  Enterprise  Allowance  \" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Back-to-Work-Enterprise-Allowance-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">The  Back  to  Work  Enterprise  Allowance  (BTWEA)  scheme  encourages  people  who  are  receiving  certain  social  welfare  payments  to  become  self-employed.  It  works  by  allowing  those  who  take  part  in  the  scheme  to  keep  a  percentage  of  their  social  welfare  payment  for  up  to  2  years.<\/p>\n<p  style=\"font-weight:  400;\">The  Back  to  Work  Enterprise  Allowance  is  payable  to  people  aged  under  66.<\/p>\n<p  style=\"font-weight:  400;\">There  are  a  number  of  ways  in  which  you  can  qualify  for  BTWEA  including:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>If  you  have  set  up  as  self-employed  in  a  business  that  has  been  approved  in  advance  in  writing  by  a  DSP  Case  Officer  or  Local  Development  Company  (LDC)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">and<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You  are  getting  one  of  the  qualifying  payments  listed  below  for  at  least  9  months  (234  days)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">&#8211;  Jobseeker&#8217;s  Allowance  (JA)<br \/>\n&#8211;  Jobseeker&#8217;s  Benefit  (with  an  underlying  entitlement  to  Jobseeker&#8217;s  Allowance)<br \/>\n&#8211;  Jobseeker&#8217;s  Transitional  payment  (JST)<br \/>\n&#8211;  One-Parent  Family  Payment  (OFP)<br \/>\n&#8211;  Blind  Pension<br \/>\n&#8211;  Disability  Allowance<br \/>\n&#8211;  Carer&#8217;s  Allowance  (having  stopped  caring  duties)<br \/>\n&#8211;  Deserted  Wife&#8217;s  Benefit\/Allowance<br \/>\n&#8211;  Prisoner&#8217;s  Wife&#8217;s  Allowance<br \/>\n&#8211;  Farm  Assist<br \/>\n&#8211;  Invalidity  Pension<br \/>\n&#8211;  Incapacity  Supplement<br \/>\n&#8211;  Widow&#8217;s\/Widower&#8217;s  or  Surviving  Civil  Partner&#8217;s  (Non-Contributory)  Pension<\/p>\n<p  style=\"font-weight:  400;\">or<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>3  out  of  last  5  years  you  are  in  receipt  of  a  qualifying  social  welfare  payment<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">\u00a0or<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>You  have  been  receiving  a  combination  of  One-Parent  Family  Payment  \/  Jobseeker&#8217;s  Transitional  payment  \/  Jobseeker&#8217;s  Allowance  for  9  months  (234  days)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>You  may  also  be  considered  for  the  BTWEA  if  you  are:<\/strong><\/p>\n<p  style=\"font-weight:  400;\"><strong>1)  A  dependent  adult  of  a  person  who  is  in  receipt  of  the  BTWEA.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">You  may  qualify  if  the  BTWEA  recipient  finishes  their  self-employment  before  their  entitlement  ends  due  to  certain  circumstances.  These  may  include  an  illness  or  injury  which  stops  the  original  claimant  from  working.  It  can  also  include  an  illness  or  injury  to  a  family  member  which  requires  the  claimant  to  become  a  full-time  carer.  However,  taking  up  other  employment  is  not  included.<\/p>\n<p  style=\"font-weight:  400;\">If  you  qualify,  you  may  avail  of  the  scheme  for  the  time  remaining  on  the  original  claim.  The  original  claimant  transfers  his  or  her  entitlements  to  you  as  their  spouse,  civil  partner  or  cohabitant.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note<\/strong>:  BTWEA  can&#8217;t  be  paid  concurrently  with  another  social  welfare  payment.  If  the  original  claimant  (a  qualified  adult)  decides  to  claim  another  payment  you  can&#8217;t  claim  BTWEA.<\/p>\n<p  style=\"font-weight:  400;\"><strong>2)  A  person  recently  released  from  prison.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">If  you  have  been  in  prison,  the  time  you  have  spent  there  can  count  towards  the  qualifying  period  for  BTWEA  provided  an  entitlement  to  a  relevant  social  welfare  payment  is  established  before  you  become  self-employed.<\/p>\n<p  style=\"font-weight:  400;\">The  below  accepted  as  qualifying  periods  provided  you  were  entitled  to  a  qualifying  payment  before  starting  on  the  study  or  training:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Periods  of  time  spent  on  full-time  FET<\/li>\n<li>F\u00e1ilte  Ireland  and  Teagasc  training  courses<\/li>\n<li>Community  Employment<\/li>\n<li>Social  Economy  Programme<\/li>\n<li>Rural  Social  Scheme<\/li>\n<li>FIT<\/li>\n<li>Job  Initiative<\/li>\n<li>JobBridge<\/li>\n<li>Work  Placement  Programme<\/li>\n<li>T\u00fas<\/li>\n<li>BTEA  and  VTOS  schemes<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Time  spent  on  the  Community  Services  Programme  is  also  counted  by  The  Department  of  Social  Protection  if  you  were  getting  a  qualifying  social  welfare  payment  for  at  least  half  of  the  qualifying  period.<\/p>\n<p  style=\"font-weight:  400;\">Time  spent  on  Supplementary  Welfare  Allowance  or  in  direct  provision  can  count  towards  the  qualifying  period  for  BTWEA  as  long  as  you  establish  an  entitlement  to  a  relevant  payment  before  starting  the  BTWEA.<\/p>\n<p  style=\"font-weight:  400;\">If  you  have  previously  participated  in  the  BTWEA  scheme  and  used  up  your  entitlement,  you  can  participate  a  second  time  after  at  least  5  years.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"short-term-enterprise-allowance\">Short-Term  Enterprise  Allowance<\/h3>\n<p  style=\"font-weight:  400;\"><strong>Another  support  to  unemployed  people  who  want  to  start  their  own  business  is  the  Short-Term  Enterprise  Allowance  (STEA).<\/strong><\/p>\n<p  style=\"font-weight:  400;\">There  is  no  qualifying  period,  however  you\u00a0<strong>must  be  receiving  Jobseeker&#8217;s  Benefit  (JB)  in  order  to  qualify<\/strong>.  You  will  not  qualify  if  you  are  getting  JB  and  working  part-time.<\/p>\n<p  style=\"font-weight:  400;\">STEA  is  paid  instead  of  your  JB  for  a  maximum  of  9  months.  It  ends  when  your  entitlement  to  JB  ends  (either  9  or  6  months).<\/p>\n<p  style=\"font-weight:  400;\">To  apply,  the  first  thing  that  you  will  need  to  do  is  submit  a  business  plan  and  have  it  approved  by  a  Case  Officer  based  in  a  social  welfare  local  office  or  an  Enterprise  Officer  in  your  local  development  company.<\/p>\n<p  style=\"font-weight:  400;\">You  must  contact  the  Department  of  Social  Protection  immediately  if  your  self-employment  ends  or  you  take  up  employment.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  unemployed  when  your  entitlement  to  STEA  ends  you  will  not  immediately  re-qualify  for  JB.  However,  you  can  apply  for  Jobseeker&#8217;s  Allowance  (JA),  which  is  a  means-tested  payment.<\/p>\n<p  style=\"font-weight:  400;\">Employment  grants  from  a  Local  Enterprise  Office  (LEO)  or  a  local  development  company  do  not  affect  your  entitlement  to  the  Short-Term  Enterprise  Allowance.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10413  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland.jpg\" alt=\"Help  with  starting  a  business  ireland\" width=\"824\" height=\"599\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland-248x180.jpg 248w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland-300x218.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland-768x558.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland-380x276.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Help-with-starting-a-business-ireland-800x582.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h4 id=\"help-with-starting-a-business\"  style=\"font-weight:  400;\"><strong>Help  with  starting  a  business<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">In  addition  to  income  support  (your  weekly  payment),  you  can  also  get  financial  support  with  the  costs  of  setting  up  your  business.  These  supports  are  provided  under  a  scheme  called  the  Enterprise  Support  Grant  (ESG).<\/p>\n<p  style=\"font-weight:  400;\">You  can  only  get  the  ESG  if  you  have  been  approved  for  either  the  Back  to  Work  Enterprise  Allowance  or  the  STEA.  The  business  plan  you  submit  as  part  of  your  application  for  the  scheme  must  set  out  the  rationale  and  requirement  for  financial  support.  The  ESG  is  paid  to  people  getting  the  STEA  on  a  pro-rata  basis  &#8211;  a  maximum  of  \u20ac937  can  be  paid  to  people  on  a  9-month  STEA  and  a  maximum  of  \u20ac625  to  people  on  a  6-month  STEA.  You  must  be  able  to  make  a  matching  contribution  of  at  least  20%  to  access  grant  support.  You  need  to  provide  documentary  evidence  of  the  costs  (quotations  from  at  least  2  suppliers  or,  if  a  single  supplier,  the  reasons  for  choosing  a  single  supplier).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Eligible  items  for  grant  support  include:<\/strong><\/p>\n\n<table id=\"tablepress-31\" class=\"tablepress tablepress-id-31\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Category <\/th><th class=\"column-2\">Annual Limit <\/th><th class=\"column-3\">Minimum Contribution <\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Accountancy and related services including legal advice <\/td><td class=\"column-2\">Up to \u20ac500<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Advertising and marketing aids<\/td><td class=\"column-2\">Up to \u20ac500<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Business equipment<\/td><td class=\"column-2\">Up to \u20ac1,000<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Business mentoring (free or at a reduced rate by Local Enterprise Officers (LEOs) or local development companies) <\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Business registration costs and fees<\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Compliance, guidance and training<\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Job-specific tools and equipment<\/td><td class=\"column-2\">Up to \u20ac1,000<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Office supplies and stationery<\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Personal protective clothing and equipment<\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Public Liability Insurance costs associated with setting up a business<\/td><td class=\"column-2\">Up to \u20ac1,000<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Short term training on book-keeping, regulation, rollout of business plan, start-your-own-business and courses of training related to the start up <\/td><td class=\"column-2\">Up to \u20ac250<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Signage<\/td><td class=\"column-2\">Up to \u20ac500<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Upgrading a premises owned by the applicant<\/td><td class=\"column-2\">Up to \u20ac1,000<\/td><td class=\"column-3\">20%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Website registration, related services and production\t<\/td><td class=\"column-2\">Up to \u20ac500<\/td><td class=\"column-3\">\t20%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">*Combination of above in any 24 month period (for long-term BTWEA only)<\/td><td class=\"column-2\">\u20ac2,500<\/td><td class=\"column-3\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-31 from cache -->\n<p>Some  items  are  <strong>not  eligible  for  grant  support<\/strong>\u00a0under  the  ESG.  These  include:\n<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Building\/premises  rental  costs<\/li>\n<li>Cost  of  travel<\/li>\n<li>Insurance  (except  public  liability)<\/li>\n<li>Personal  clothing  and  uniforms  (except  protective  clothing)<\/li>\n<li>Professional  development  programmes  arranged  by  professional  and  regulatory  bodies<\/li>\n<li>Purchase  of  any  type  of  vehicle<\/li>\n<li>Stock-in-trade<\/li>\n<li>Training  or  education  other  than  that  specified<\/li>\n<li>Utility  costs,  connection  or  supply  and  local  authority  rates<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0ESG  is  paid  to  people  getting  the  STEA  on  a  pro-rata  basis.  A  maximum  of  \u20ac937  can  be  paid  to  people  on  a  9-month  STEA  and  a  maximum  of  \u20ac625  to  people  on  a  6-month  STEA.  You  do  not  have  an  automatic  right  to  any  of  these  amounts.  The  Department  of  Social  Protection&#8217;s  Case  Officer  will  assess  your  application  and  eligibility.<\/p>\n<p  style=\"font-weight:  400;\">If  you  qualify,  the  STEA  replaces  your  JB.  The  STEA  will  be  paid  at  the  same  rate  as  your  JB,  including  any  increases  for  adult  and  child  dependants.  It  ends  when  your  entitlement  to  JB  ends.  The  STEA  may  be  paid  directly  into  your  bank  or  building  society  account  on  a  weekly  basis.  It  cannot  be  paid  into  a  mortgage  account.<\/p>\n<p  style=\"font-weight:  400;\">You  do  not  pay  PRSI  or  Universal  Social  Charge  on  the  STEA.  However  the  STEA  is  subject  to  income  tax  in  the  same  way  as  JB.  You  may  qualify  for  Start  Your  Own  Business  Relief  which  provides  a  two-year  exemption  from  income  tax  (up  to  a  maximum  of  \u20ac40,000  each  year)  for  people  who  have  been  unemployed  for  at  least  12  months  before  starting  their  own  business.  It  runs  from  25  October  2013  to  31  December  2018.  (However  if  you  started  to  get  the  STEA  before  25  October  2013  you  do  not  qualify  for  the  relief  because  you  had  already  started  your  business  before  the  start  date  for  the  scheme).<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignleft  wp-image-10414  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-1024x576.png\" alt=\"key  tax  terms  explained  ireland\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/key-tax-terms-explained-ireland.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\n<\/p>\n<h3 id=\"non-paye-income\"  style=\"font-weight:  400;\"><strong>Non-PAYE  income<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">This  is  income  earned  outside  the  PAYE  system.  This  income  must  be  declared  to  Revenue  for  tax  (if  your  taxable  non-PAYE  income  is  less  than  \u20ac5,000  and  the  gross  non-PAYE  income  is  less  than  \u20ac30,000  you  are  not  obliged  to  declare  the  non-PAYE  income  under  the  self-assessment  system  via  Form  11.  Instead,  you  must  file  a  Form  12).<\/p>\n<p  style=\"font-weight:  400;\">Examples  of  non-PAYE  income  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Deposit  Interest<\/li>\n<li>Irish  Rental  Income<\/li>\n<li>Income  from  Fees,  Covenants,  or  Distributions  (incl.  Dividends)<\/li>\n<li>Foreign  Income<\/li>\n<li>Income  from  a  Trade,  Profession  or  Vocation<\/li>\n<\/ul>\n<h3 id=\"self-assessment-system\"  style=\"font-weight:  400;\"><strong>Self-assessment  system<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">This  is  where  you  make  your  own  assessment  of  Income  Tax  (IT),  Universal  Social  Charge  (USC),  Pay  Related  Social  Insurance  (PRSI)  and  Capital  Gains  Tax  (CGT)  you  are  due  to  pay  for  a  tax  year.  You  must  self-assess  when  filing  your  annual  tax  return.<\/p>\n<p  style=\"font-weight:  400;\"><strong>You  should  register  for  self-assessment  if  you:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>are  self-employed<\/li>\n<li>receive  income  from  non-Pay  As  You  Earn  (PAYE)  sources,  for  example:<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">\u2794  rental  income<br \/>\n\u2794  investment  income<br \/>\n\u2794  foreign  income  including  foreign  pensions<br \/>\n\u2794  maintenance  payments<br \/>\n\u2794  fees  that  are  exempt  from  PAYE<br \/>\n\u2794  have  profited  from  share  options  or  share  incentives<\/p>\n<p  style=\"font-weight:  400;\"><strong>You  do  not  need  to  register  for  self-assessment  if:<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>you  only  have  PAYE  income<\/li>\n<li>your  taxable  non-PAYE  income  does  not  exceed  \u20ac5,000  and  your  gross  non-PAYE  income  does  not  exceed  \u20ac30,000<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"gross-income\"  style=\"font-weight:  400;\"><strong>Gross  income<\/strong><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10415  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income.jpg\" alt=\"Gross  income\" width=\"824\" height=\"449\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income-300x163.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income-768x418.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income-380x207.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Gross-income-800x436.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Income  before  any  deductions  (like  tax)  are  made.<\/p>\n<h3 id=\"net-income\"  style=\"font-weight:  400;\"><strong>Net  income<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">Net  income  is  the  total  income  after  tax  and  deductions  (like  pension  contributions)  have  been  subtracted.<\/p>\n<h3 id=\"taxable-income\"  style=\"font-weight:  400;\"><strong>Taxable  income<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">Taxable  income  is  the  amount  of  your  income  that  is  subject  to  tax.<\/p>\n<p  style=\"font-weight:  400;\">Before  you  calculate  your  income  tax  liability  you  can  subtract  the  following  from  your  income:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Tax  allowances<\/li>\n<li>Expenses<\/li>\n<li>Pension  contributions<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">After  these  deductions  are  made,  the  figure  that  is  left  will  be  taxable  income.<\/p>\n<h3 id=\"sole-trader\"  style=\"font-weight:  400;\"><strong>Sole  Trader<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">A  sole  trader  refers  to  an  individual  who  owns  and  operates  a  business.  They  can  employ  staff  to  assist  with  the  running  of  the  business,  but  it  is  the  sole  trader  who  owns  the  business.<\/p>\n<h3 id=\"pps-number\"  style=\"font-weight:  400;\"><strong>PPS  Number<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">Your  Personal  Public  Service  (PPS)  number  is  a  unique  identifier  which  is  used  for:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>tax  purposes<\/li>\n<li>when  you  need  to  access  social  welfare  benefits<\/li>\n<li>and  for  public  services  and  information  in  Ireland<\/li>\n<\/ul>\n<h3 id=\"income-tax-it\"  style=\"font-weight:  400;\"><strong>Income  Tax  (IT)<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">The  standard  rate  of  income  tax  is  20%.  This  means  you  pay  20%  tax  on  the  first  \u20ac42,000  in  2024  (\u20ac40,000  in  2023)\u00a0of  your  income.  The  higher  rate  of  income  tax  is  40%  and  you  pay  this  on  any  earnings  above  the  \u20ac42,000  threshold  (\u20ac40,000  in  2023).<\/p>\n<p  style=\"font-weight:  400;\">Most  employers  and  employees  (over  16  years  of  age  and  under  66)  pay  social  insurance  (PRSI)  contributions  into  the  national  Social  Insurance  Fund.  In  general,  the  payment  of  social  insurance  is  compulsory.<\/p>\n<p  style=\"font-weight:  400;\">The  majority  of  self-employed  people  (including  farmers,  company  directors,  entrepreneurs,  investors,  landlords  etc)  pay  Class  S  PRSI.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  aged  between  16  and  66  and  you  earn  more  than  \u20ac5,000  per  year,  Class  S  PRSI  is  paid  at  a  rate  of  4%  on  your  gross  income,  with  a  minimum  payment  of  \u20ac500.  If  you  earn  less  than  \u20ac5,000  from  self-employment  in  a  year  you  are  exempt  from  PRSI,  but  you  may  pay  \u20ac500  as  a  voluntary  contributor  (if  you  meet  the  other  conditions).<\/p>\n<p  style=\"font-weight:  400;\">The  benefits  of  Class  S  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Widow\/Widower&#8217;s  or  Surviving  Civil  Partner&#8217;s  (Contributory)  Pension<\/li>\n<li>Guardian&#8217;s  Payment  (Contributory)<\/li>\n<li>State  Pension  (Contributory)<\/li>\n<li>Maternity  Benefit<\/li>\n<li>Adoptive  Benefit<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"deposit-interest-retention-tax-dirt\"  style=\"font-weight:  400;\"><strong>Deposit  Interest  Retention  Tax  (DIRT)<\/strong><\/h3>\n<p  style=\"font-weight:  400;\">If  you  save  a  sum  of  money  in  a  bank,  building  society  or  post  office,  you  will  be  liable  to  pay  Deposit  Interest  Retention  Tax  (DIRT).<\/p>\n<p  style=\"font-weight:  400;\">DIRT  is  a  tax  (deducted  at  source)  on  the  interest  you  earn  when  you  save  money  with  a  financial  institution.<\/p>\n<p  style=\"font-weight:  400;\">DIRT  is  charged  at  33%  on  all  interest  payments.<\/p>\n<h3 id=\"capital-gains-tax-cgt\"  style=\"font-weight:  400;\"><strong>Capital  Gains  Tax  (CGT)<\/strong><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10416  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland.jpg\" alt=\"Capital  Gains  Tax  (CGT)  ireland\" width=\"824\" height=\"547\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland-271x180.jpg 271w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland-300x199.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland-768x510.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland-380x252.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Capital-Gains-Tax-CGT-ireland-800x531.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p  style=\"font-weight:  400;\">Capital  Gains  Tax  (CGT)  is  a  tax  payable  (at  33%)  on  financial  gains  made  on  the  disposal  of  certain  assets.  The  first  \u20ac1,270  of  your  cumulative  annual  gains  from  the  disposal  of  assets  (after  deducting  expenses  and  allowable  capital  losses  are  exempt  from  tax.  Any  profit  that  you  make  above  this  figure  will\u00a0<strong>be  taxed  at  33%  and  you  will  need  to  file  a  tax  return  each  year<\/strong>.<\/p>\n<p  style=\"font-weight:  400;\">Examples  of  &#8220;chargeable  assets&#8221;  (liable  to  CGT)  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>land<\/li>\n<li>buildings  (houses,  apartments,  or  commercial  property)<\/li>\n<li>business  shares<\/li>\n<li>assets  that  have  no  physical  form  such  as  goodwill,  patents  and  copyright<\/li>\n<li>currency  (other  than  Irish  currency)  and  cryptocurrency<\/li>\n<li>assets  of  a  trade<\/li>\n<li>foreign  life  insurance  policies  and  offshore  funds<\/li>\n<li>capital  payments  (in  certain  situations)<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Many  other  forms  of  property  are  also  considered.<\/p>\n<h3 id=\"assets\">Assets<\/h3>\n<h3 id=\"capital-gains-tax-cgt-2\">Capital  Gains  Tax  (CGT)<\/h3>\n<p  style=\"font-weight:  400;\">Capital  Gains  Tax  (CGT)  is  a  tax  charged  on  profit  made  on  the  disposal  of  any  asset.  In  this  context  an  asset  is  something  you  own  outright.  It  can  also  be  intangible,  or  something  you  have  an  interest  in  \u2013  such  as  a  leasehold  interest  in  land.<\/p>\n<h4 id=\"capital-allowances\"  style=\"font-weight:  400;\"><strong>Capital  allowances<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Capital  allowances  are  similar  to  tax  expenses.  They  are  available  for  qualifying  capital  expenditure  for  the  provision  of  certain  assets  used  in  a  trade  or  rental  business.  They  effectively  allow  a  taxpayer  to  write  off  the  cost  of  an  asset  over  a  period  of  time.<\/p>\n<h4 id=\"disposal\"  style=\"font-weight:  400;\"><strong>Disposal<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Disposing  of  an  asset  includes  any  transfer  of  ownership  by  way  of  exchange,  gift  or  settlement  on  trustees.  Transfers  of  assets  between  spouses  and  civil  partners  are  exempt  from  Capital  Gains  Tax.<\/p>\n<h3 id=\"tax-credits-2\">Tax  credits<\/h3>\n<p  style=\"font-weight:  400;\">Tax  credits  are  used  to  reduce  a  tax  liability.  For  example,  if  you  are  self-employed  you  are  entitled  to  an\u00a0<strong>Earned  Income  Tax  Credit<\/strong>\u00a0of  maximum  \u20ac1,875.  Some  tax  credits  are  given  automatically  and  others  you  must  claim.<\/p>\n<h3 id=\"rate-bands\">Rate  bands<\/h3>\n<p  style=\"font-weight:  400;\">Income  up  to  the  \u20ac42,000  limit\u00a0in  2024  (\u20ac40,000  in  2023)  is  taxed  at  the  standard  rate  of  Income  Tax  (20%).  Income  earned  above  this  limit  is  taxed  at  the  higher  rate  of  Income  Tax  (40%).<\/p>\n<h3 id=\"tax-reliefs\">Tax  reliefs<\/h3>\n<p  style=\"font-weight:  400;\">Tax  reliefs  reduce  the  income  on  which  you  pay  tax,  which  may  result  in  a  refund  of  tax  paid  and  the  amount  of  relief  depends  on  which  rate  of  tax  you  pay.  For  example,  if  you&#8217;re  paying  tax  at  the  higher  rate  of  40%,  then  your  income  is  reduced  by  the  relief  and  the  balance  is  taxed  at  40%.  Otherwise  it  will  be  reduced  by  the  relief  and  the  balance  taxed  at  the  standard  rate  of  20%.<\/p>\n<h3 id=\"tax-exemptions\">Tax  exemptions<\/h3>\n<p  style=\"font-weight:  400;\">Under  certain  circumstances,  you  may  be  exempt  from  paying  tax  on  types  of  income  you  receive.  You  must  meet  certain  conditions  to  qualify  for  an  exemption  \u2013  for  example  Artists&#8217;  Exemption,  marginal  relief  and  some  social  welfare  payments.<\/p>\n<h3 id=\"allowable-expenses-3\">Allowable  expenses<\/h3>\n<p  style=\"font-weight:  400;\">In  the  course  of  operating  your  business,  you  may  incur  certain  expenses  which  may  reduce  your  taxable  income  (if  allowable  for  tax  purposes).  In  order  for  an  expense  to  be  regarded  as  business  related  (and  eligible)  it  must  have  occurred<strong>\u00a0&#8216;wholly&#8217;  and  &#8216;exclusively&#8217;<\/strong>\u00a0in  relation  to  your  business.  Where  an  expense  relates  to  both  business  and  private  use,  only  the  proportion  of  the  cost  that  relates  to  business  activity  can  be  expensed.<\/p>\n<p  style=\"font-weight:  400;\">Examples  of  expenses  that  can  be  included  are:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Materials  (supplies  costs)<\/li>\n<li>Motor  running  costs  (portion  applicable  to  business)<\/li>\n<li>Capital  allowances<\/li>\n<li>Insurance  relating  to  the  business<\/li>\n<li>Telephone  (portion  applicable  to  business)<\/li>\n<li>Lighting  and  heating  (for  business  and  not  domestic  use)<\/li>\n<li>Advertising<\/li>\n<li>Bank  charges<\/li>\n<li>Stationery<\/li>\n<li>Van\/Car  leasing<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"wp-image-10417  size-full  alignnone\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes.jpg\" alt=\"Disallowable  expenses  for  tax  purposes\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Disallowable-expenses-for-tax-purposes-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h3 id=\"disallowable-expenses-for-tax-purposes\">Disallowable  expenses  for  tax  purposes<\/h3>\n<p  style=\"font-weight:  400;\"><strong>These  expenses  can&#8217;t  be  used  as  tax  deductions.<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Examples  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Expenditure  not  related  to  your  trade<\/li>\n<li>Client  entertainment  (including  the  cost  of  food,  drink  and  accommodation)<\/li>\n<li>Most  travel  costs<\/li>\n<li>Donations  (political  or  charitable)<\/li>\n<\/ul>\n<h3 id=\"chargeable-person\">Chargeable  Person<\/h3>\n<p  style=\"font-weight:  400;\">&#8216;<strong>Chargeable  person<\/strong>&#8216;  is  another  term  used  to  describe  a  self-employed  individual  or  someone  who  is  liable  to  pay  self-assessed  income  tax.  A  &#8216;chargeable  person&#8217;  for  self-assessment  purposes  is  a  person  who  is  chargeable  to  tax  on  that  person&#8217;s  own  account  or  on  another  person&#8217;s  account  in  respect  of  a  chargeable  period.  He\/she  must  file  a  tax  return  and  calculate  tax  due  under  self-assessment.<\/p>\n<p  style=\"font-weight:  400;\">If  your  taxable  non-PAYE  income  exceeds  \u20ac5,000,  or  your  gross  non-PAYE  income  exceeds  \u20ac30,000  you  are  regarded  as  a  &#8216;chargeable  person&#8217;  and  you  must  register  for  self-assessment.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0If  your  non-PAYE  income  is  zero  due,  for  example,  to  an  allowance  which  reduces  your  taxable  profits  to  zero,  you  will  be  considered  a  chargeable  person  as  zero  profits  can&#8217;t  be  taxed  through  the  PAYE  system.<\/p>\n<h3 id=\"earned-income-tax-credit-2\">Earned  Income  Tax  Credit<\/h3>\n<p  style=\"font-weight:  400;\">If  you  are  self-employed  you  can  claim  an  Earned  Income  Tax  Credit  (worth  \u20ac1,875  in  2024)  to  reduce  your  overall  tax  liability.<\/p>\n<h3 id=\"tr1-form-and-form-tr1-ft-2\">TR1  Form  and  Form  TR1  (FT)<\/h3>\n<p  style=\"font-weight:  400;\">If  you  are  considered  to  be  a  &#8216;Chargeable  Person&#8217;  by  Revenue  you  will  need  to  file  a  tax  return  Form  11.  To  do  so,  in  your  first  year  of  earning  non-PAYE  income,  you  will  need  to  register  as  self-employed  with  Revenue.  To  do  this  you  will  have  to  complete  a  TR1  Form  or  TR1  (FT)  Form.  A  TR1  Form  is  for  resident  individuals,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.  And  a  TR1  (FT)  Form  is  for  non-resident  individuals,  partnerships,  trusts  or  unincorporated  bodies  registering  for  tax  in  Ireland.<\/p>\n<h3 id=\"form-11-2\">Form  11<\/h3>\n<p  style=\"font-weight:  400;\">Form  11  is  used  to  pay  and  file  a  self-assessed  tax  return.  You  can  provide  a  breakdown  of  your  income,  profits  and  costs  for  the  year,  the  amount  of  IT,  Pay  Related  Social  Insurance  (PRSI)  and  Universal  Social  Charge  (USC)  you  need  to  pay.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  regarded  as  a  &#8216;chargeable  person&#8217;  for  income  tax  purposes,  you  need  to  file  a  tax  return  Form  11  under  the  self-assessment  system.  If  you&#8217;re  a  company  director  owning  more  than  15%  of  the  shareholding  in  the  company,  you&#8217;re  also  obliged  to  complete  a  tax  return  Form  11  each  year  even  if  all  your  income  is  PAYE.<\/p>\n<p  style=\"font-weight:  400;\">The  34-page  Form  11  requests  information  such  as:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Personal  details  including  PPS  number,  marital  status,  residence  status<\/li>\n<li>Income  details  including  extracts  from  accounts<\/li>\n<li>Rental  income  details<\/li>\n<li>Income  from  Irish  employment,  offices,  pensions,  social  welfare  etc.<\/li>\n<li>Foreign  income<\/li>\n<li>Income  from  fees,  covenants,  distributions  etc.<\/li>\n<li>Exempt  income<\/li>\n<li>Annual  payments,  charges  and  interest  paid<\/li>\n<li>Claim  for  tax  credits,  allowances,  reliefs  and  health  expenses<\/li>\n<li>Limitations  on  use  of  reliefs<\/li>\n<li>Capital  gains<\/li>\n<li>Chargeable  assets  acquired<\/li>\n<li>Property  based  incentives<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  are  filing  a  tax  return  Form  11,  any  capital  gain\/loss  made  on  the  disposal  of  a  capital  asset  during  the  year  must  be  reported  on  the  tax  return  Form  11.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10418  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12.jpg\" alt=\"form  12\" width=\"824\" height=\"767\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-193x180.jpg 193w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-300x279.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-768x715.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-380x354.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/form-12-800x745.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h3 id=\"form-12-2\">Form  12<\/h3>\n<p  style=\"font-weight:  400;\">The  Form  12  tax  is  for  people  whose  main  form  of  income  is  through  the  PAYE  system  and  whose  taxable  non-PAYE  income  in  a  year  does  not  exceed  \u20ac5,000  and  gross  non-PAYE  income  does  not  exceed  \u20ac30,000.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"interest-charge\">Interest  charge<\/h3>\n<p  style=\"font-weight:  400;\">A  chargeable  person  is  liable  to  interest  if:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>their  preliminary  tax  paid  is  insufficient  or  is  not  paid  on  time<\/li>\n<li>the  balance  of  tax  due  is  not  paid  on  time<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Interest  runs  from  the  due  date  for  payment  and  the  interest  charge  is  0.0219%  per  day.<\/p>\n<h3 id=\"capital-acquisitions-tax-cat-2\">Capital  Acquisitions  Tax  (CAT)<\/h3>\n<p  style=\"font-weight:  400;\">CAT  is  a  tax  (charged  at  33%)  on  gifts  or  inheritances.<\/p>\n<p  style=\"font-weight:  400;\">The  first  \u20ac3,000  of  the  total  value  of  all  gifts  received  from  one  person  in  any  calendar  year  is  exempt.  Although,  this  doesn&#8217;t  apply  to  inheritances.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  liable  to  declare  gifts  or  inheritance  for  CAT,  you  must  do  so  on  a  Form  IT38.<\/p>\n<h3 id=\"deadlines\">Deadlines<\/h3>\n<p  style=\"font-weight:  400;\">Under  the  self-assessment  system  the  deadline  for  filing  your  Form  11  income  tax  return  and  to  make  the  appropriate  payment  (Income  Tax  &amp;  Preliminary  Tax)  is  on  or  before  31  October  of  the  following  tax  year.  Although  it  is  possible  to  extend  this  deadline  into  mid-November  if  you  file  and  pay  online  through  ROS.<\/p>\n<p  style=\"font-weight:  400;\">If  you  are  due  to  pay  Capital  Gains  Tax  (CGT)  there  are  two  deadlines  you  should  be  aware  of.  If  you  make  a  disposal  between  1  January  and  30  November  you  must  pay  CGT  by  15  December  of  the  same  year.  And,  if  you  make  a  disposal  between  1  \u2013  31  December,  you  will  have  to  pay  your  CGT  by  31  January  of  the  following  year.<\/p>\n<p  style=\"font-weight:  400;\">For  CAT  liabilities,  there  are  two  important  deadlines  to  be  aware  of.  If  the  valuation  date  is  between  1  January  and  31  August,  the  deadline  for  your  CAT  payment  is  31  October  in  that  year.  If  the  valuation  date  is  between  1  September  and  31  December,  the  deadline  for  your  CAT  payment  is  31  October  in  the  following  year.<\/p>\n<h3 id=\"revenue-online-service-ros\">Revenue  Online  Service  (ROS)<\/h3>\n<p  style=\"font-weight:  400;\">ROS  refers  to  the  Revenue  Online  Service.  You  can  both  file  your  tax  return  and  pay  your  tax  online  using  the  ROS  system.<\/p>\n<h3 id=\"preliminary-tax-3\">Preliminary  tax<\/h3>\n<p  style=\"font-weight:  400;\">When  you  file  a  Form  11  tax  return  you  must  make  two  payments<\/p>\n<ol  style=\"font-weight:  400;\">\n<li>The  balance  of  Income  Tax  due  from  the  previous  year&#8217;s  earnings<\/li>\n<li>Preliminary  tax  for  the  current  year&#8217;s  earnings<\/li>\n<\/ol>\n<p  style=\"font-weight:  400;\">Preliminary  tax  is  an  estimate  of  the  Income  Tax,  Pay  Related  Social  Insurance  (PRSI)  and  Universal  Social  Charge  (USC)  that  you  expect  to  pay  for  a  tax  year.<\/p>\n<p  style=\"font-weight:  400;\">To  calculate  what  you  will  need  to  pay  you  should  use\u00a0<strong>at  least\u00a0<\/strong>one  of  the  following:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>90%  of  the  tax  due  for  that  year<\/li>\n<li>100%  of  the  tax  due  for  the  preceding  year<\/li>\n<li>105%  of  the  tax  due  for  the  pre-preceding  year  (this  option  only  applies  where  you  pay  by  direct  debit  &#8211;  it  does  not  apply  if  the  tax  due  for  the  pre-preceding  year  was  zero).<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0Preliminary  tax  does  not  apply  for  Capital  Gains  Tax  (CGT).<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"revenue-audit\">Revenue  Audit<\/h3>\n<p  style=\"font-weight:  400;\">A  Revenue  Audit  is  an  examination  of  tax  returns  and  records  that  you  have  submitted.  During  the  audit,  a  Revenue  officer  will  check  to  ensure  that  all  of  your  profits,  income  and  chargeable  gains  have  been  correctly  calculated,  tax  credits  have  been  applied  and  that  no  important  chargeable  information  is  missing.<\/p>\n<p  style=\"font-weight:  400;\">Tax  returns  are  normally  accepted  by  Revenue  and  processed  without  in-depth  auditing.  However,  your  tax  return  may  be  randomly  selected  for  audit,  and  under  these  circumstances  it  will  be  thoroughly  examined.<\/p>\n<h3 id=\"taxation-of-married-couples\">Taxation  of  married  couples<\/h3>\n<p  style=\"font-weight:  400;\">When  you  get  married  you  can  choose  one  of  the  following  types  of  assessment:<\/p>\n<h4 id=\"1-joint-assessment\"  style=\"font-weight:  400;\"><strong>1)  Joint  Assessment<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">This  is  often  the  most  favourable  basis  of  assessment  for  a  married  couple  or  civil  partners.<\/p>\n<p  style=\"font-weight:  400;\">Under  Joint  assessment,  tax  credits  and  standard  rate  cut-off  point  can  be  allocated  between  spouses  to  suit  your  own  circumstances.  For  example,  if  only  one  spouse\/civil  partner  has  taxable  income,  all  tax  credits  and  the  standard  rate  cut-off  point  will  be  given  to  the  spouse\/civil  partner  with  the  income.<\/p>\n<h4 id=\"2-separate-treatment\"  style=\"font-weight:  400;\"><strong>2)  Separate  Treatment<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">With  this  option  each  spouse\/civil  partner  is  treated  as  a  single  person  for  tax  reasons  and  is  taxed  on  their  own  income.<\/p>\n<h4 id=\"3-separate-assessment\"  style=\"font-weight:  400;\"><strong>3)  Separate  Assessment<\/strong><\/h4>\n<p  style=\"font-weight:  400;\">Separate  Assessment  and  Separate  Treatment  are  similar.  The  main  difference  is  that  under  Separate  Assessment,  some  tax  credits  can  be  divided  equally  between  both  partners.  Examples  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Married  or  Civil  Partner&#8217;s  Tax  Credit<\/li>\n<li>Age  Tax  Credit<\/li>\n<li>Blind  Person&#8217;s  Tax  Credit<\/li>\n<li>Incapacitated  Child  Tax  Credit<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Find  more  information  on  tax  status  and  marriage  here.<\/p>\n<h3 id=\"proprietary-and-non-proprietary-director\">Proprietary  and  Non-Proprietary  director<\/h3>\n<p  style=\"font-weight:  400;\">A  company  director  is  obliged  to  file  a  tax  return  every  year,  in  the  same  way  a  sole-trader  must.  A  non-proprietary  director  (someone  who  owns  less  than  15%  of  the  shares  in  the  company)  must  submit  a  Form  12  while  a  proprietary  director  must  file  a  Form  11.<\/p>\n<h3 id=\"dividend\">Dividend<\/h3>\n<p  style=\"font-weight:  400;\">A  dividend  is  a  distribution  of  a  company&#8217;s  profits  to  the  shareholders  of  that  company.<\/p>\n<h3 id=\"dividend-withholding-tax-dwt\">Dividend  Withholding  Tax  (DWT)<\/h3>\n<p  style=\"font-weight:  400;\">Irish  resident  companies  are  required  to  withhold  tax  on  dividend  payments  and  other  distributions  that  they  make.  DWT  is  charged  at  the  standard  rate  of  tax  for  the  year  in  which  the  distribution  is  made.<\/p>\n<h3 id=\"relevant-contracts-tax-rct-2\">Relevant  Contracts  Tax  (RCT)<\/h3>\n<p  style=\"font-weight:  400;\">RCT  is  a  withholding  tax  that  applies  to  certain  payments  by  principal  contractors  to  subcontractors  in  the  construction,  forestry  and  meat-processing  industries.<\/p>\n<p  style=\"font-weight:  400;\">Under  RCT,  there  are  three  withholding  tax  rates  for  subcontractors:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li><strong>0%<\/strong>\u00a0&#8211;  for  an  up-to-date  tax  compliance  record<\/li>\n<li><strong>20%<\/strong>\u00a0&#8211;  for  a  substantially  up-to-date  tax  compliance  record<\/li>\n<li><strong>35%<\/strong>\u00a0&#8211;  for  a  poor  tax  compliance  record,  or  for  those  who  have  not  registered  with  Revenue<\/li>\n<\/ul>\n<h3 id=\"professional-services-withholding-tax-pswt-2\">Professional  Services  Withholding  Tax  (PSWT)<\/h3>\n<p  style=\"font-weight:  400;\">PSWT  is  a  tax  at  20%  on  payments  by  accountable  persons  for  certain  professional  services.<\/p>\n<h3 id=\"double-taxation-treaties\">Double  taxation  treaties<\/h3>\n<p  style=\"font-weight:  400;\">Many  countries  enter  into  tax  treaties  with  other  countries  to  avoid  or  mitigate  double  taxation  (the  charging  of  tax  by  two  or  more  jurisdictions  on  the  same  declared  income).  Ireland  has  signed  comprehensive  these  treaties  with  over  70  countries.<\/p>\n<h3 id=\"tax-refund\">Tax  refund<\/h3>\n<p  style=\"font-weight:  400;\">Every  year  thousands  of  Irish  people  pay  too  much  tax  and  are  entitled  to  a  tax  refund.  You  can  go  back  four  years  from  the  current  tax  year  in  order  to  apply  for  your  refund.<\/p>\n<p  style=\"font-weight:  400;\">Tax  agents  like\u00a0<strong>Taxback<\/strong>\u00a0can  help  you  to  retrieve  your  maximum  legal  refund.<\/p>\n<h3 id=\"tax-agent\">Tax  Agent<\/h3>\n<p  style=\"font-weight:  400;\">A  tax  agent  is  a  company  that  can  help  you  to  file  your  tax  return  and  apply  for  your  tax  refund.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Taxback<\/strong>\u00a0is  an  example  of  a  tax  agent.  We  can  do  all  of  your  tax  paperwork  for  you  to  help  you  retrieve  your  maximum  legal  refund.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10419  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland.jpg\" alt=\"taxback  agents  ireland\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/taxback-agents-ireland-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10420  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-1024x576.png\" alt=\"self  assessement  FAQs  ireland\" width=\"1024\" height=\"576\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-1024x576.png 1024w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-300x169.png 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-768x432.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-1536x864.png 1536w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-380x214.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-800x450.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland-1160x653.png 1160w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/self-assessement-FAQs-ireland.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h3 id=\"general\">General<\/h3>\n<h4 id=\"q-whats-the-difference-between-a-self-employed-person-and-an-employee\">Q.  What&#8217;s  the  difference  between  a  self-employed  person  and  an  employee?<\/h4>\n<p><strong>A<\/strong><\/p>\n<p>.  The  main  difference  is  that  a  self-assessed  individual  files  and  pays  their  own  Income  Tax  with  Revenue.  Normally  an  employee&#8217;s  tax  will  be  deducted  from  their  pay  by  their  employer.\n<\/p>\n<h3 id=\"supplementing-my-income\">Supplementing  my  income<\/h3>\n<h4 id=\"q-im-a-paye-worker-but-i-earn-some-additional-income-outside-my-usual-job-how-can-i-tell-if-i-need-to-register-for-self-assessment\">Q.  I&#8217;m  a  PAYE  worker,  but  I  earn  some  additional  income  outside  my  usual  job.  How  can  I  tell  if  I  need  to  register  for  self-assessment?<\/h4>\n<p><strong>A.<\/strong><\/p>\n<p>  If  your  taxable  non-PAYE  income  exceeds  \u20ac5,000  in  a  year  or  your  gross  non-PAYE  income  is  over  \u20ac30,000,  you  will  be  considered  a  &#8216;chargeable  person&#8217;  by  Revenue  and  will  need  to  register  for  self-assessment  and  file  a  Form  11  tax  return.\n<\/p>\n<p  style=\"font-weight:  400;\">However,  if  your  taxable  non-PAYE  income  is  less  than  \u20ac5,000  in  a  year  and  your  gross  non-PAYE  income  is  less  than  \u20ac30,000,  you  must  file  a  Form  12  tax  return.  This  is  the  most  common  tax  return  form  used  by  PAYE  earners.<\/p>\n<h4 id=\"q-i-top-up-my-annual-income-by-renting-out-my-spare-bedroom-on-airbnb-do-i-need-to-pay-tax-on-this-how\">Q.  I  top  up  my  annual  income  by  renting  out  my  spare  bedroom  on  Airbnb.  Do  I  need  to  pay  tax  on  this?  How?<\/h4>\n<p><strong>A.<\/strong><\/p>\n<p>  Airbnb  is  one  of  the  most  popular  options  for  Irish  people  looking  to  make  some  extra  cash.  However,  tax  is  still  due  on  any  income  you  make  from  renting  out  a  room  on  this  platform.  The  frequency  of  bookings  does  make  a  difference  to  the  type  of  tax  you&#8217;ll  have  to  pay  &#8211;  either  Case  I  &#8216;trading&#8217;  income  or  Case  IV  &#8216;miscellaneous&#8217;  income.\n<\/p>\n<p  style=\"font-weight:  400;\">The  form  that  you  complete  depends  on  whether  Revenue  considers  your  earnings  to  be  Case  I  &#8216;trading&#8217;  income  or  Case  IV  &#8216;miscellaneous&#8217;  income.<\/p>\n<p  style=\"font-weight:  400;\">Revenue  will  likely  consider  your  income  as  Case  I  &#8216;trading&#8217;  if:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>you  rent  out  the  room  or  property  on  6  or  more  occasions  annually<\/li>\n<li>or  if  you  host  for  30  or  more  nights  in  a  year<\/li>\n<li>or  your  Airbnb  income  exceeds  \u20ac5,000  in  a  year<\/li>\n<li>or  the  property  is  available  for  occupancy  all  the  time<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<p  style=\"font-weight:  400;\">If  your  Airbnb  business  falls  under  Case  I  &#8216;trading&#8217;  income  then  you&#8217;ll  first  need  to  register  with  Revenue  by  completing  a  TR  1  form.  The  next  step  will  be  to  file  a  Form  11  tax  return  each  year.  You  should  complete  a  Form  12  if  your  Airbnb  income  is  less  than  \u20ac5,000  in  one  year.<\/p>\n<p  style=\"font-weight:  400;\">It&#8217;s  not  all  bad  news  though.  There  are  a  number  of  deductibles  that  you  can  use  to  significantly  reduce  your  Airbnb  tax  bill.<\/p>\n<p  style=\"font-weight:  400;\">For  starters  you&#8217;ll  be  able  to  expense  repair  and  maintenance  costs,  including  those  listed  below:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>replacing  broken  windows  and  locks,<\/li>\n<li>servicing  boilers<\/li>\n<li>Supplying  new  furnishings  and  fittings<\/li>\n<li>purchased  cleaning  supplies<\/li>\n<li>don&#8217;t  forget  to  include  laundry  costs!<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">And<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>legal  and  accounting  fees<\/li>\n<li>advertising<\/li>\n<li>local  service  charges<\/li>\n<li>And  more!<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10421  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income.jpg\" alt=\"Can  I  claim  rent-a-room  relief  for  my  Airbnb  income\" width=\"824\" height=\"549\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income-270x180.jpg 270w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income-300x200.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income-768x512.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income-380x253.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/Can-I-claim-rent-a-room-relief-for-my-Airbnb-income-800x533.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<h4 id=\"q-can-i-claim-rent-a-room-relief-for-my-airbnb-income\">Q.  Can  I  claim  rent-a-room  relief  for  my  Airbnb  income?<\/h4>\n<p><strong>A.<\/strong><\/p>\n<p>  No  rent-a-room  relief  isn&#8217;t  applicable  for  Airbnb  income.\n<\/p>\n<h4 id=\"q-is-there-anything-i-can-expense-from-my-airbnb-income\">Q.  Is  there  anything  I  can  expense  from  my  Airbnb  income?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Yes,  there  are  a  number  of  expenses  (including  repairs,  maintenance,  and  utilities  costs)  which  can  reduce  your  tax  liability.  Although  all  expenses  must  have  been  incurred  &#8216;wholly&#8217;  and  &#8216;exclusively&#8217;  from  running  your  Airbnb  accommodation.  If  only  part  of  the  cost  is  associated  with  your  Airbnb  trade,  then  you  can  only  expense  the  appropriate  amount  and  not  the  entire  expense.\n<\/p>\n<p  style=\"font-weight:  400;\">Read  our  blog:\u00a0<a  href=\"https:\/\/www.taxback.com\/blog\/5-things-airbnb-hosts-in-ireland\/\">5  things  you  need  to  know  about  tax  if  you&#8217;re  an  Airbnb  host  in  Ireland<\/a>.<\/p>\n<h4 id=\"q-i-rent-a-room-out-in-my-house-do-i-have-to-pay-tax-on-this-income\">Q.  I  rent  a  room  out  in  my  house.  Do  I  have  to  pay  tax  on  this  income?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Through  Rent-a-Room  Relief,  homeowners  can  rent  out  a  room  in  their  home  and  earn  tax-free  income  as  long  as  it  doesn&#8217;t  exceed  \u20ac14,000  in  a  tax  year.  However,  you  may  have  to  pay  USC  and  PRSI.  If  your  rental  income  exceeds  \u20ac14,000  in  a  tax  year,  you  will  be  liable  to  pay  tax.  You  should  note  that  all  the  qualifying  conditions  must  be  met  in  order  to  avail  of  the  Rent-a-Room  Relief.\n<\/p>\n<h4 id=\"q-i-want-to-rent-a-room-in-my-house-to-my-son-will-i-have-to-pay-tax-on-this-income\">Q.  I  want  to  rent  a  room  in  my  house  to  my  son.  Will  I  have  to  pay  tax  on  this  income?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Yes,  you  must  declare  all  rental  income  for  tax  purposes.\n<\/p>\n<h3 id=\"filing-a-tax-return\">Filing  a  tax  return<\/h3>\n<h4 id=\"q-when-do-i-need-to-pay-and-file-my-self-assessment-income-tax-return\">Q.  When  do  I  need  to  pay  and  file  my  self-assessment  income  tax  return?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Regarding  the  2023  tax  year,  the  self-assessment  tax  deadline  is  on  31  October  2024.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10422  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return.jpg\" alt=\"When  do  I  need  to  pay  and  file  my  self-assessment  income  tax  return\" width=\"824\" height=\"621\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return-239x180.jpg 239w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return-300x225.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return-768x579.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return-380x286.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/When-do-I-need-to-pay-and-file-my-self-assessment-income-tax-return-800x603.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/>\n<\/p>\n<p  style=\"font-weight:  400;\">However,  if  you  are  filing  and  paying  through  Revenue  On-Line  Service  (ROS),  there  is  a  deadline  extension  available  and  you  will  have  until  mid-November  2024  to  pay  and  file.<\/p>\n<h4 id=\"q-do-i-need-to-calculate-my-own-tax-liability-how-do-i-do-this\">Q.  Do  I  need  to  calculate  my  own  tax  liability?  How  do  I  do  this?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Yes,  self-employed  people  calculate  their  own  tax  liability.\n<\/p>\n<p  style=\"font-weight:  400;\">To  do  this  you  will  need:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>personal  details  including  PPS  number<\/li>\n<li>your  total  income  (including  from  employment  and  rental  income  etc)  for  the  year<\/li>\n<li>details  of  your  allowable  deductions,  expenses  and  reliefs<\/li>\n<li>payment  details  for  paying  the  tax<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  enter  your  income  and  deductions  into\u00a0<strong>Form  11<\/strong>\u00a0through  ROS,  your  liability  will  be  automatically  calculated  at  the  end  of  the  form.<\/p>\n<h4 id=\"q-what-kind-of-business-expenses-can-i-deduct-from-my-tax-return\">Q.  What  kind  of  business  expenses  can  I  deduct  from  my  tax  return?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>The  type  of  expenses  that  are  eligible  largely  depend  on  the  type  of  business  you  conduct.  However,  in  order  for  an  expense  to  be  regarded  as  business  related  \u2013  and  therefore  eligible  as  a  deduction  from  your  tax  bill  \u2013  it  must  have  occurred  wholly  and  exclusively  in  relation  to  your  business.  Where  an  expense  relates  to  both  business  and  private  use,  only  the  proportion  of  the  cost  that  relates  to  business  activity  can  be  expensed.\n<\/p>\n<p  style=\"font-weight:  400;\">There  are  some  common  expenses  which  can  generally  be  deducted.  These  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Renting  out  an  office  space<\/li>\n<li>Utility  bills  (such  as  heating,  lighting,  telephone  and  internet)<\/li>\n<li>The  cost  of  insuring  the  business  premises  and  the  contents<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">If  you  work  from  home,  these  expenses  are  still  allowable  to  the  extent  of  the  business  use  only.<\/p>\n<h4 id=\"q-what-is-preliminary-tax\">Q.  What  is  Preliminary  Tax?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>You  must  pay  Preliminary  Tax  once  you  are  registered  for  the  self-assessment  Income  Tax  system.  Simply  put,  it&#8217;s  an  estimate  of  your  tax  liability  (including  Income  Tax,  PRSI  and  USC)  for  the  current  tax  year.  It  is  due  on  31  October  each  year.\n<\/p>\n<p  style=\"font-weight:  400;\">To  calculate  preliminary  tax  due  you  must  choose  at  least  one  of  the  below:<\/p>\n<p  style=\"font-weight:  400;\"><strong>90%<\/strong>\u00a0of  the  tax  due  for  that  year<br \/>\n<strong>100%<\/strong>\u00a0of  the  tax  due  for  the  preceding  year<br \/>\n<strong>105%<\/strong>\u00a0of  the  tax  due  for  the  pre-preceding  year  (this  option  only  applies  where  you  pay  by  direct  debit  &#8211;  it  does  not  apply  if  the  tax  due  for  the  pre-preceding  year  was  zero).<\/p>\n<p  style=\"font-weight:  400;\"><strong>Note:<\/strong>\u00a0failure  to  pay  your  Preliminary  Tax  on  time  can  result  in  interest  charges.<\/p>\n<h4 id=\"q-what-if-i-dont-file-my-tax-return-on-time\">Q.  What  if  I  don&#8217;t  file  my  tax  return  on  time?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>If  you  file  your  tax  return  after  the  deadline,  you  will  have  to  pay  surcharges  and  interest  as  below.\n<\/p>\n<p  style=\"font-weight:  400;\"><strong>Surcharge<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>within  two  months  of  the  filing  date:  5%  of  your  tax  due,  up  to  \u20ac12,695<\/li>\n<li>over  two  months:  10%  of  your  tax  liability,  up  to  \u20ac63,485<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\"><strong>Interest<\/strong><\/p>\n<p  style=\"font-weight:  400;\">Interest  on  late  payment  of  Income  Tax  and  Capital  Gains  Tax  is  charged  at  0.0219%.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"vat\">VAT<\/h3>\n<h4 id=\"q-im-registering-as-a-sole-trader-do-i-need-to-register-for-vat-too\">Q.  I&#8217;m  registering  as  a  sole  trader.  Do  I  need  to  register  for  VAT  too?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>If  your  income  from  services  is  more  than  \u20ac37,500  per  annum,  or  your  income  from  the  sale  of  goods  exceeds  \u20ac75,000,  you  will  need  to  register  for  VAT.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10423  size-large\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-665x1024.png\" alt=\"\" width=\"665\" height=\"1024\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-665x1024.png 665w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-117x180.png 117w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-195x300.png 195w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-768x1182.png 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-380x585.png 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT-800x1231.png 800w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/VAT.png 824w\" sizes=\"auto, (max-width: 665px) 100vw, 665px\" \/>\n<\/p>\n<h3 id=\"audits\">Audits<\/h3>\n<h4 id=\"q-what-is-an-audit\">Q.  What  is  an  Audit?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>An  Audit  is  an  examination  by  Revenue  of  your  income  and  tax  liability  for  a  particular  period.  Revenue  wants  to  confirm  that  the  figures  submitted  on  your  tax  return  were  correct  and  that  there  were  no  discrepancies.\n<\/p>\n<h4 id=\"q-is-there-any-way-to-avoid-being-audited\">Q.  Is  there  any  way  to  avoid  being  audited?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>The  selection  process  to  choose  those  who  are  audited  is  completely  random.  In  other  words,  there  is  no  way  to  avoid  selection.\n<\/p>\n<h4 id=\"q-how-can-i-prepare-for-a-revenue-audit\">Q.  How  can  I  prepare  for  a  Revenue  Audit?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>In  the  event  of  an  audit,  you  will  need  to  provide  documentation  which  supports  every  figure  stated  in  your  tax  return.  And,  as  your  annual  tax  return  can  be  audited  at  any  time  within  a  six  year  period,  you  will  need  to  keep  all  relevant  files  such  as  invoices,  bank  statements,  and  expense  receipts  in  a  safe  place.\n<\/p>\n<p  style=\"font-weight:  400;\">Before  the  audit  begins  you  should  immediately  double  check  your  records  and  returns  for  any  inaccuracies  that  you  may  need  to  notify  Revenue  about.<\/p>\n<h4 id=\"q-what-happens-if-i-make-a-mistake-on-my-tax-return\">Q.  What  happens  if  I  make  a  mistake  on  my  tax  return?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>If  you  make  a  mistake  on  your  tax  return,  Revenue  can  impose  penalties.  So,  if  you  do  notice  an  error  you  should  make  an  unprompted  qualifying  disclosure  to  Revenue  as  soon  as  possible.\n<\/p>\n<p  style=\"font-weight:  400;\">An  unprompted  qualifying  disclosure  is  information  you  give  to  Revenue  to  clarify  details  of  incomes  or  gains  that  have  been  omitted  in  error  from  your  tax  return.  This  disclosure  must  be  made  before  you  receive  an  audit  notice  or  an  investigation  begins.  The  benefit  of  the  disclosure  is  that  you  can  receive  a  lower  penalty,  you  will  not  be  investigated  for  prosecution  and  will  not  have  your  settlement  details  published  on  the  list  of  tax  defaulters.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"capital-gains-tax-2\">Capital  Gains  Tax<\/h3>\n<h4 id=\"q-what-is-capital-gains-tax-and-do-i-need-to-pay-it\">Q.  What  is  Capital  Gains  Tax  and  do  I  need  to  pay  it?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Capital  Gains  Tax  (CGT)  is  due  on  gains  made  from  the  disposal  of  capital  assets  (such  as  shares  and  property  etc.).\n<\/p>\n<p  style=\"font-weight:  400;\">The  first  \u20ac1,270  of  your  cumulative  annual  gains  (after  deducting  expenses  and  losses  from  other  investments)  are  exempt  from  tax.  However,  any  profit  that  you  make  above  this  figure  will  be  taxed  at  33%  and  you  will  need  to  file  a  tax  return  each  year.<\/p>\n<h4 id=\"q-when-is-cgt-due\">Q.  When  is  CGT  due?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>For  disposals  of  assets  between  1  January  and  30  November  Capital  Gains  Tax  CGT  must  be  paid  before  15  December  in  the  same  tax  year.  And,  for  disposals  of  assets  between  1  December  and  31  December  CGT,  must  be  paid  before  31  January  in  the  following  tax  year.\n<\/p>\n<h4 id=\"q-what-do-i-do-if-i-make-a-loss-on-my-investment\">Q.  What  do  I  do  if  I  make  a  loss  on  my  investment?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>You  are  still  obliged  to  record  the  loss  by  submitting  a  tax  return  for  the  tax  year  the  disposal  was  made.  You  can  use  this  loss  against  a  capital  gain  made  by  you  in  the  year  that  you  made  the  loss.  You  can  also  carry  it  forward  until  you  can  offset  it  against  a  capital  gain  but  you  can&#8217;t  carry  it  back  for  offset  against  chargeable  gains  arising  in  earlier  years  of  assessment.  Capital  losses  are  not  available  for  offset  against  income  taxable  under  corporation  tax  or  income  tax.\n<\/p>\n<h4 id=\"q-im-thinking-of-investing-in-some-shares-will-i-have-to-pay-additional-tax-if-i-do\">Q.  I&#8217;m  thinking  of  investing  in  some  shares.  Will  I  have  to  pay  additional  tax  if  I  do?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Yes,  you&#8217;ll  have  to  pay  Capital  Gains  Tax  at  33%  on  any  gain  you  make  from  your  investment.\n<\/p>\n<h4 id=\"q-if-i-hang-on-to-my-shares-for-a-few-years-when-will-i-have-to-pay-tax\">Q.  If  I  hang  on  to  my  shares  for  a  few  years  when  will  I  have  to  pay  tax?<\/h4>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10424  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax.jpg\" alt=\"If  I  hang  on  to  my  shares  for  a  few  years  when  will  I  have  to  pay  tax\" width=\"824\" height=\"392\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax.jpg 824w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax-300x143.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax-768x365.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax-380x181.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/If-I-hang-on-to-my-shares-for-a-few-years-when-will-I-have-to-pay-tax-800x381.jpg 800w\" sizes=\"auto, (max-width: 824px) 100vw, 824px\" \/><\/p>\n<p><strong>A.  <\/strong><\/p>\n<p>Capital  Gains  Tax  is  due  the  year  you  make  the  disposal  (sale  or  exchange).  So,  if  you  make  a  disposal  anytime  between  1  January  and  30  November,  you  must  pay  before  the  15  December.  If  you  make  a  disposal  between  1  December  and  31  December,  your  payment  is  due  by  31  January  of  the  following  year.\n<\/p>\n<h4 id=\"q-will-anyone-notice-if-i-dont-pay-capital-gains-tax\">Q.  Will  anyone  notice  if  I  don&#8217;t  pay  Capital  Gains  Tax?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>If  Revenue  discovers  a  missed  or  late  payment  of  Capital  Gains  Tax,  you&#8217;ll  be  liable  for  penalties  and  interest.\n<\/p>\n<h4 id=\"q-i-just-received-a-cash-gift-from-a-friend-does-anyone-need-to-pay-tax-on-this-gift-i-intend-to-re-gift-to-another-friend-of-mine-does-anyone-need-to-pay-tax-on-this-gift\">Q.  I  just  received  a  cash  gift  from  a  friend.  Does  anyone  need  to  pay  tax  on  this  gift?  I  intend  to  re-gift  to  another  friend  of  mine.  Does  anyone  need  to  pay  tax  on  this  gift?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Depending  on  the  size  of  the  cash  gift,  you  may  need  to  pay  Capital  Acquisitions  Tax  (CAT).  This  is  a  tax  at  33%,  on  gifts  and  inheritances.  If  the  gift  or  inheritance  is  from  your  spouse\/civil  partner  or  if  its  value  is  below  a  group  threshold  amount,  no  CAT  is  due.  Also,  you  can  receive  a  gift  with  a  value  of  \u20ac3,000  or  less  from  any  one  person  in  any  one  year  without  a  CAT  liability.\n<\/p>\n<p  style=\"font-weight:  400;\">Anyone  who  receives  a  gift  or  inheritance  will  need  to  pay  CAT  if  it&#8217;s  above  the  group  threshold  amount.  Read  more  about  CAT  here.<\/p>\n<h4 id=\"q-im-self-employed-what-kind-of-social-welfare-entitlements-am-i-entitled-to\">Q.  I&#8217;m  self-employed.  What  kind  of  social  welfare  entitlements  am  I  entitled  to?<\/h4>\n<p><strong>A.  <\/strong><\/p>\n<p>Generally,  if  you&#8217;re  self-employed  you&#8217;ll  pay  Class  S  PRSI.\n<\/p>\n<p  style=\"font-weight:  400;\">The  benefits  of  Class  S  include:<\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Widow\/Widower&#8217;s  or  Surviving  Civil  Partner&#8217;s  (Contributory)  Pension<\/li>\n<li>Guardian&#8217;s  Payment  (Contributory)<\/li>\n<li>State  Pension  (Contributory)<\/li>\n<li>Maternity  Benefit<\/li>\n<li>Adoptive  Benefit<\/li>\n<\/ul>\n<p  style=\"font-weight:  400;\">Class  S  PRSI  only  covers  you  for  certain  social  welfare  payments.  It  does  not  cover  you  for  Jobseeker&#8217;s  Benefit.  However,  you  may  be  entitled  to  Jobseeker&#8217;s  Allowance  (JA)  if  you  qualify  via  a  means  test.<\/p>\n<p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n<p>\u00a0\n<\/p>\n<h3 id=\"are-you-self-employed\">Are  you  self-employed?<\/h3>\n<p  style=\"font-weight:  400;\"><strong>Taxback  can  make  your  life  easier!<\/strong><\/p>\n<p  style=\"font-weight:  400;\">We  will  take  care  of  all  the  paperwork  for  your  annual  tax  return  and  ensure  that  you  are  claiming  every  applicable  tax  relief  that  you&#8217;re  entitled  to.<\/p>\n<p  style=\"font-weight:  400;\">Additionally,  every  single  tax  return  is  checked  by  a  senior  Irish  tax  accountant  and  we  guarantee  to  keep  you  fully  compliant  with  the  Irish  tax  authorities.<\/p>\n<p  style=\"font-weight:  400;\"><strong>Benefits  of  filing  with  Taxback<br \/>\n<\/strong><\/p>\n<ul  style=\"font-weight:  400;\">\n<li>Cost-effective  &amp;  friendly  tax  return  service<\/li>\n<li>Personal  Tax  Advisor<\/li>\n<li>Full  compliance  with  the  Irish  Revenue<\/li>\n<li>No  complicated  forms<\/li>\n<li>24\/7  Tax  Help<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\"  class=\"alignnone  wp-image-10425  size-full\" src=\"https:\/\/taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland.jpg\" alt=\"file  tax  return  in  ireland\" width=\"817\" height=\"650\" srcset=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland.jpg 817w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland-226x180.jpg 226w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland-300x239.jpg 300w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland-768x611.jpg 768w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland-380x302.jpg 380w, https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2024\/11\/file-tax-return-in-ireland-800x636.jpg 800w\" sizes=\"auto, (max-width: 817px) 100vw, 817px\" \/><\/p>\n<p  style=\"text-align:  center;\"><p style=\"text-align: center;\"><strong>We take the hassle out of filing your Irish tax return<\/strong><\/p>\r\n<p style=\"text-align: center;\" class=\"orange-cta-btn\"><a style=\"padding: 15px; text-align: center; border-radius: 30px; font-size: 20px; font-weight: bold; background-color: #e74632; color: #fff; margin: 25px 0px 25px 0px;\" href=\"https:\/\/www.taxback.com\/user\/#\/application\/ireland\/essentials\"; target =\"_blank\" rel=\"noopener\";>GET STARTED<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Did you know that there are over 300,000 self-employed people in Ireland? This accounts for approximately 14.5% of the country&#8217;s workforce.\n","protected":false},"author":381,"featured_media":10480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[368,389,361,3],"tags":[],"class_list":["post-10314","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tax-tips-ireland","category-free-pdf-guides","category-tax-tips","category-taxback"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Your Bullsh*t-Free Guide to Self-Assessment Taxes in Ireland<\/title>\n<meta name=\"description\" content=\"All you have to know about Irish taxes and deadlines. 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