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Having spent a lifetime building your business, you are looking to your retirement and trying to figure out how to extract cash tax efficiently from your company, hoping to keep…
As Christmas & New Years approaches, be sure to check your tax credit list twice Tax reliefs, allowable expenses and tax credits could save you hundreds and in some cases…
Know your entitlements
According to the Revenue Commissioners, there were 1.4 million claims for tax reliefs last year, more than three times the number in 2004 (around 402,000).
There are no hard figures on how much in tax relief goes unclaimed every year, but it is generally assumed to be millions of euro.
Consumer and tax experts say now is a good time to start claiming any tax reliefs due to you.
Over the past couple of years, some reliefs have been abolished, while others have been scaled back. But you can still claim tax reliefs for any expenditure made as far back as 2006.
This means that you can submit a claim for tax relief relating to expenditure that took place during the tax years 2006, 2007, 2008 and 2009, as long as the claim is submitted before December 31, 2010.
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