There are many situations in which being tax-savvy will help you save considerable amounts of money. On the other hand, you must also be aware of your tax liabilities, so you remain fully compliant with the law.
Most of us are too busy or simply lack the knowledge to know how much tax we must pay and how much money we can claim back from the Revenue. The team at Jones & Associates, Chartered Accountants will take all the stress off your hands and make sure you pay the correct amount. We will also make sure you avail of all the possible tax breaks and reliefs available.
We can help you in all the situations below:
- If you have received any additional income, such as rental income or dividend income, you must ensure you are tax-compliant.
- If you have any medical and non-routine dental expenses, you may be entitled to claim tax relief on any unreimbursed expenses incurred in a tax year.
- If you have sold any assets, such as shares in a company, your employer is not responsible for declaring the taxation on this sale to the Revenue Commissioners.
- If you have received any gift and/or inheritance during the year, you may have a reporting obligation to the Revenue Commissioners.
And remember, the time limit for claiming tax reliefs in respect of medical expenses or lump sum payments is four years from the end of the year in which the lump sum payment is treated as income, so even if it has been a while since you received your lump sum, we can still help you!