- Use the tax-free voucher scheme of up to €500 per employee or director.
- Review your 2015 tax and claim any unclaimed allowances before 31 December. After that you can no longer claim anything for 2015.
- Count your cash & stock if your year end is 31 December.
- €3,000 annual gift exemption from Capital Acquisitions Tax – Use it or lose it.
- Make any company pension contributions before the company year end date if you want the payments included against taxable profits.
Post year end tip – Check your PRSI record
Most of us apply for a State Pension when we reach pension age without ever having checked our PRSI record. You can request a copy of your Social Insurance contributions record by completing a simple application form online at the following link: https://www.welfare.ie/en/Pages/secure/RequestSIContributionRecord.aspx
By providing us with a copy of this record we can check if you meet or are likely to meet the criteria for a contributory State Pension. We can also check:
- The rate of payment you are likely to receive (based on current rates).
- If it would be more beneficial for your spouse to get an increase for a qualified adult instead of you taking a pension in your own right.
- If you need to make voluntary contributions (must apply within 12 months of ceasing compulsory PRSI).