Top Ten Tips

Personal

  1. Ensure you are claiming all the tax credits and reliefs to which you are entitled.
  2. Talk to your employer about tax saving schemes e.g. Travel Tax Saver, Employer Pension Scheme, Bike to work Scheme. 
  3. File a tax return annually.
  4. Review your deposit account/savings arrangements – could your money be working better for you ?
  5. Review your loan/credit facilities – could you be paying less interest ?
  6. Review all your insurances – you may be paying for unnecessary insurances.
  7. Ensure you claim all entitlements from the Department of Social Protection.
  8. Start a pension.
  9. Make a will.
  10. Contact Gannon Kirwan Somerville if you wish to discuss any of the above in greater detail.

Business

  1. Make sure you operate using the correct structure.
  2. Get timely financial information by preparing periodic management accounts and budgets – Don’t wait to year-end.
  3. Consider outsourcing all or part of your accounting or payroll functions.
  4. Review all possible areas for grants and finance.
  5. Get to know a good bank manager and solicitor.
  6. Register for and get the maximum benefits from the Revenue on line service.
  7. Consider using the Revenue Direct Debit Schemes to pay taxes.
  8. Invest in and get the maximum use from technology.
  9. Use a commercial vehicle for your business instead of a car. 
  10. Contact Gannon Kirwan Somerville if you wish to discuss any of the above in greater detail.