Personal tax tips for PAYE & Limited company umbrella contractors in Ireland Income protection policy – Tax relief is applicable when you take out an income protection policy (policy taken out in case of an accident, illness etc.) NB – The policy must be approved by Revenue as a Permanent Health...
Common challenges facing contractors – Financial, accounting and others… Part 3 7. Pension and health insurance – contractors have to pay this themselves. Even though you will be paid a premium for your contracting and these are partly tax-deductible you will still need to budget to pay them. So...
Common challenges facing contractors – Financial, accounting and others… Part 2 4. Payment issues – this is a serious concern for contractors. Being involved in a payment chain means that there could be delays in your payment. An Agency or Umbrella can delay a payment to you if the...
Common challenges facing contractors – Financial, accounting and others… Part 1 1. Administration – if you are using a PAYE Umbrella solution this isn’t going to be such an issue. Providing information to your Umbrella service on your private pension as well as a few other big ticket items...