Firstly, an Executive Pension is a one member Occupational Pension Scheme or Company Pension Scheme for an individual employee or director. An Executive Pension is allowed to accept/make pension contributions from the company i.e. an employer contribution. Employee contributions to an Executive Pension are also possible. Employer contributions can...
Tax breaks in Ireland for donations to sports clubs This is a good way to pay less tax while supporting your local qualifying sports club. What are the benefits to the tax paying entity and/or club? Sports clubs can reclaim tax from revenue on behalf of the donor. For...
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...