AITI Chartered Tax Adviser

Tax tips

There are many simple ways to save tax – you just need to know where to look! Each relief is discussed in detail in Tax Magic 2018.

They can literally save you thousands of euro:

1. Move abroad – become non-resident.

2. Receive tax-exempt income.

3. Receive capital gains rather than income.

4. Become a dual income couple.

5. Lose your job and get a tax-free termination payment.

6. Set up your own business and claim seed capital relief.

7. Claim travel expenses at the civil service rate.

8. Claim subsistence allowance at the civil service rate.

9. Get tax-free benefits.

10. Covenants.

11. Maintenance to ex-spouse.

12. Become self-employed.

13. Save tax-efficiently for your pension.

14. Claim losses against all other income.

15. Use your foreign domicile to minimise your income tax liability.

16. Invest in an Enterprise Investment Scheme company or a qualifying film.

17. Transfer your trade to a company (12.5% tax v 52%).

18. Company research and development (R & D) relief.

19. Retirement relief – tax-free profit extraction.

20. Use a company to save tax on rental income.