Our aim is to help businesses grow, to increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income. Please feel free to call us on 021 4310266 or email us at email@example.com if you wish to do business with us
Merry Christmas and a happy New Year from all of us at Parfrey Murphy. This year again we are making a donation to the Simon Community in lieu of sending Christmas cards.
So have a wonderful time with family and friends and we will see you all in 2019.
INCOME TAX REFUND 2014
As there is a four year limit on claiming Income Tax refunds, 31 December 2018 is the deadline date for filing your 2014 return if you are entitled to a refund. If you file your claim after that date you will not receive any refund.
In 2017 Revenue stated that refunds on tax credits totalled €27.6m. The average refund is about €900/€1,100.
It is opportune that you check your position for 2014 and subsequent years to ensure you receive your correct tax credits and allowances for items such as medical expenses, nursing home fees, tuition fees or flat rate expenses.
The following are the main items generally not claimed by taxpayers.
Employers can reward employees under the Small Benefits Exemption Scheme with a non-cash bonus of up to €500 per year completely tax free.
If guidelines are followed neither the employer nor the employee will pay PAYE, PRSI or USC with a potential saving of over €650.
To qualify for the tax exemption, only one tax-free bonus may be paid to each employee in any one year. If more than one bonus is given in a year, it is only the first one that will qualify for tax-free status, even if this bonus is less than the €500 annual allowance - any used allowance cannot be carried over