Useful year end tips:
- Use the tax-free voucher scheme of up to €500 per employee or director.
- Review your 2014 tax and claim any unclaimed allowances before 31 December.
After that you can no longer claim anything for 2014.
- 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 of 66 without ever having
checked our PRSI record. You can request a copy of your Social Insurance contributions
record through your MyWelfare account. If you do not already have one, you can create one
By reviewing this record you can check if you meet or are likely to meet the criteria for a
contributory State Pension as well as:
- The likely rate of payment.
- 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