Tax system

Colly

Hi

I am not clued into the tax system and how to use it. Is there a website or anywhere I could go to learn how to claim back stuff like for example I just learned you can claim for travel expenses when working and also if you make a loss when dealing in shares you can claim back some of your losses from the tax man.

Has anyone an idea where to look to find out more info on what I am entitled to claim back on seen as the tax are set to rise I want to keep what I pay to a minimum.

As I heard today on the radio that Denis OBrien had a house abroad so got out of paying millions in tax. So I am sure there is something small we all could be doing to pay less.

Any ideas

Thanks Colly

b20uvkft6m5xwg

www.revenue.ie or by Phone

The Rev Comms are actually quite helpful in pointing out the various provisions of the Taxes Consolodated Act that can save you a bob or too.

In my experience they have no problem in briefing you on your rights especially in terms of relefs for the ordinary Joe Soap. I was onto them this week about claiming relief post graduate fees and they were very helpful.

Their website is ok, but I found exactly what i was looking for by using the Google search site method like so...
http://www.google.ie/search?q=site%3Arevenue.ie+postgraduate&ie=UTF-8&oe=UTF-8&hl=en&meta=

RainyDay

Check out Askaboutmoney.com - the Irish personal finance website

Colly

Dead on lads

I am just new to this site and already I am loving it as it is cool to think ya have dead sound advice from regular punters like meself and as everyones experience in life is farely similar why reinvent the wheel when someone like yourselves have already researched the wheel.

Thanks Lads I am am looking forward to checking out both ur links as I am just after starting a post grad and it is very expensive so a tax rebate will be very helpful.

Emm now what else can i ask the message board, what a great resource to have.

Slan Colly

Ardrinekennels

I am open to correction but I believe you can only "claim back your losses" on share dealing when you have a tax liability from making money selling other shares.

sceptre

Originally posted by Colly
As I heard today on the radio that Denis OBrien had a house abroad so got out of paying millions in tax. So I am sure there is something small we all could be doing to pay less.

I'm fairly sure he's domiciled abroad (in other words he lives in that house or elsewhere outside Ireland for 183 days each year). Merely owning a house abroad wouldn't do anything to help tax liabilities.

daveirl

This post has been deleted.

Victor

I got €3,000 back from the tax man today. Whoot! :D:D

Originally posted by Colly
anywhere I could go to learn how to claim back stuff like for example I just learned you can claim for travel expenses when working

Only some travel expenses, e.g. if you are office based and asked to go to site, your employer can reimburse you for your travel expenses to site at their face cost without tax. Alternativley he can give you a bus or train season ticket (minimum duration one month) tax free (which you can also use to / from work and for private use). Normal travel to work (by any means) is not reimbursable. If you use your own transport for work use you can get certain expenses back. If you have a company vehicle, you may have to pay tax on it as a Benefit in Kind.

Originally posted by Colly
also if you make a loss when dealing in shares you can claim back some of your losses from the tax man.

Capital Gains Tax (CGT) is separate from Income Tax / PAYE and you can only set off a CGT loss against a CGT gain.

Originally posted by Colly
As I heard today on the radio that Denis OBrien had a house abroad so got out of paying millions in tax.

He actually moved out of the country for the better part of 3 years (the time it takes to move your residence status from Ireland).