Address: 82 North Main Street, Bandon, Co. Cork, P72 T971
Tel: (023) 884 1560 | Email: firstname.lastname@example.org
Find answers to your accounting and tax queries here
You have two main options:
Tax relief for unreimbursed medical expenses incurred on behalf of a taxpayer
You can claim relief on the cost of health expenses. These can be your own health expenses, those of a family member or any individual’s, as long as you paid for them.
You receive tax relief for health expenses at your standard rate of tax, 20%. Nursing home expenses are given at your highest rate of tax, up to 40%.
Medical expenses include
Don’t forget to include these in your tax return!
Revenue Guidance – starting in Business
There are two main options open to entrepreneurs when setting up in Ireland
Sole trader or Limited company
We set out below a brief summary of the differences between both and the issues to be considered before making a final decision
Some issues to consider when making a decision on legal structure:
You can claim tax relief on fees (including the student contribution) that you have paid for third level education courses. Please see attached link for further details.
To qualify as a small company a company must satisfy TWO or more of the following conditions in the current financial year and in the preceding financial year (unless it is its first financial year)(s.350(2), (3) & (5) Companies Act 2014):
Exemption from filing an auditor’s report (the “audit exemption”)(s.360 CA 2014)
Small Company Audit Exemption
In order for a company to qualify for the small company audit exemption the company must meet the following criteria in respect of the financial year concerned and the preceding year – s.350(3) CA 2014.
The company must qualify as a “small company” (As defined above). The company must not come within any of the 18 classes of companies listed in the Fifth Schedule to the 2014 Act. The company’s annual return, to which Financial Statements are attached, must be filed on time for the year in question and the previous year. (s.363 CA 2014)
Extracts from www.cro.ie
For more detailed information please follow the following link-
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