Help to Buy Scheme for First Time Buyers
The help-to-buy incentive has been the focus of attention in the wake of Budget 2017 but especially since the scheme opened for applications in January but considerable confusion still surrounds the practicalities of how the relief will work.
Put simply, to avail of this scheme you must be a first-time buyer, your mortgage must be for at least 70% of the value of the property, the property cannot be valued at more than €500,000, it must be newly built – ie no second-hand homes – and buy-to-let properties are excluded, so you must live there yourself.
Purchases Before Jan 1st 2017
The rules are slightly different for houses bought or built between July 19th 2016 and Dec 31st 2016. These properties will be eligible for tax rebates on purchases up to €600,000 – but the rebate will still be limited to €20,000.
Bonus: If first time buyers also manage to take out a mortgage with cashback they could get even more cashback.Read More
It’s time to talk about tax already I’m afraid. If you are self-employed you must calculate your tax liability and make a payment by 31st October 2016 (12th November if registered with ROS) in respect of your:
1. Final Tax Assessment for 2015; 2. Preliminary Tax for 2016.
The good news…
You can reduce your 2015 Final Tax liability and your 2016 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2016 (or 14th November 2016 for ROS users) and electing to backdate the tax relief to 2015.
Get the most from your money with a financial plan
Get the most from your money with a financial plan.
If you haven't given any thought to planning out your financial future then you should do it now. A plan can help you get the most from your money and help you achieve your goals in life. If you don’t draw up a plan, you’re more likely to end up in a financial mess. Drawing up a plan sounds tough, but it’s easier than you might expect
Here are five financial perils that could inflict serious damage if you don’t have a plan.Read More
Tax-saving for the Self-employed
If you are self-employed you must calculate your tax liability and make a payment by 31st October 2014 (12th November if registered with ROS) in respect of your:
1. Final Tax Assessment for 2014; 2. Preliminary Tax for 2015.
The good news…
You can reduce your 2014 Final Tax liability and your 2015 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2015 (or 12th November 2015 for ROS users) and electing to backdate the tax relief to 2014.
John is self-employed, aged 45 years, and his Net Relevant Earnings for 2014 wereRead More
Save up to 40% with Tax efficient life cover.
Chances are you were never informed that you can save up to 40% on your life cover. This is one of the best kept secrets in the insurance world.
We all know taking out Life Cover is a good idea...
But sometimes with all the other demands on your income such as mortgage payments, utility bills, holidays, school fees, the weekly grocery shop... it can be hard to see how to budget for Life Cover. However, there is a solution available that delivers the peace of mind that comes from knowing that these expenses can be covered should you die. In fact, it can cost up to 40% less* than a regular Term Assurance policy.Read More
Welcome to our Budget 2015 Summary
The pension changes outlined in the Budget and current relevant rules are as follows:
Pension Fund Levy
The Pension Fund Levy will continue in 2015 at the rate of 0.15% as confirmed in last year’s Budget. Minister Noonan has confirmed the levy will cease after 2015.
This is encouraging for all those who hold private pensions and should ensure greater certainty in retirement funding.
Standard Fund Threshold (SFT)
The Minister did not mention in his Budget speech a change to the SFT of €2 million.
Those individuals with pension rights in excess of the SFT of €2 million as at 1 January 2014 have until 2 July 2015 to protect the capital value of those rights by applying for a Personal Fund Threshold (PFT) up to a maximum of €2.3 million. Individuals who already have a PFT will retain that PFT and do not need to take any action.Read More
Protection Cover for Cohabiting Couples
The trend for couples to co-habit, rather than marry, has become increasingly more common in Ireland All other cohabiting couples are still treated as strangers for Inheritance and Gift Tax purposes. The stranger threshold for inheritance Tax is €16,750 (Feb 2012). Inheritances in excess of €16,750 are subject to tax at 33%.
Will you have to pay inheritance tax on the death of your partner?Read More
Your Will could be useless or dangerous!
A badly drafted or out-of-date Will can do more damage than no Will at all!
A Will is a vitally important thing to write. But an incorrect, badly drafted or obsolete Will can be a huge headache.
A Will is an expression of your wishes regarding the management and distribution of your estate after you die. It's also a legal declaration in which you appoint one or more adults to manage your estate and transfer your property after your death.
Die 'intestate' (without a Will) and your property, personal possessions and other assets will be distributed according to intestacy law, rather than your personal wishes. Many believe that when they die, their spouse or partner will receive all their wealth and goods. Actually, this is not the case. In fact, without a Will, your assets are distributed according to a strict legal pecking order.
Executive Pensions If you are a company owner, director or senior executive then an Executive Pension is possibly the most tax-efficient and secure way for you to save for your retirement. An Executive Pension will also ensure you and your business maximise the generous tax advantages available. We will help you establish and run an Executive Pension scheme that works best for you and your business. We will show you different ways to ensure […]Read More