Compliance for individuals

Managing personal tax requirements is becoming increasingly onerous for both self-assessed and PAYE workers. Tax by its nature is complex and steeped in legislation. It also subject to annual review and amendments in the budget. The range of taxes people are now liable for can be alarming with an assortment of returns to file and deadlines to meet such as Income Tax, Capital Gains Tax, PRSI and levies, Capital Acquisitions Tax, Non-Principal Private Residences Charge. All this can make it difficult for the average individual to understand and stay on top of their tax obligations.

Changes to the restriction of reliefs available to high-income earners, announced in the 2010 Finance Act, further limited the existing restriction on the use of certain tax reliefs and exemptions by high-income earners, and raised their effective rate of tax. The calculation of applicable restrictions and liabilities (looking at adjusted income compared to the threshold amount plus the specified reliefs used by the individual) can be quite complex and should be undertaken with tax professionals.

OUR SERVICES

  • We assist our personal tax clients to ensure they are availing of all the relevant reliefs and allowances, as well as declaring all relevant income
  • We will also correspond with the Revenue Commissioners on their behalf
  • We advise on the calculation of tax liabilities and claiming of reliefs
  • We can complete and file personal tax returns via Revenue’s online system
  • Our services to individuals may take the form of a once-off tax review or the provision of annual compliance services