Mary Farrell – Chartered Tax Advisor

38 Upper Main Street, Letterkenny, County Donegal, Ireland

Phone

+353 74 91 25346

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Tax Advice Services covers all the main areas of taxation including:

  • Income Tax/PRSI/USC.

    If you are an employee, income tax, PRSI and the Universal Social Charge (USC) are usually deducted from your pay automatically. If you are self-employed, you will generally need to compute your own tax liability and make annual payments to the Revenue.

  • Corporation Tax

    is a levy on a company’s profits. The tax is charged on a company’s income. The corporation tax in Ireland is quite low, and is often cited as an example of tax competition, as it is used as an incentive for foreign companies to invest in the state.

  • VAT

    is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution.

  • Capital Gains Tax

    is chargeable on gains arising on the disposal of assets, other than that part of a gain which arose in the period prior to 6 April 1974. Any form of property (other than Irish currency) including an interest in property (as, for example, a lease) is an asset for CGT purposes.

  • Capital Acquisitions Tax

    comprises Gift Tax, Inheritance Tax and Discretionary Trust Tax. Gift tax is charged on taxable gifts taken (other than on a death) on or after 28 February, 1974 and Inheritance Tax is charged on taxable inheritances taken (on a death) on or after 1 April, 1975. A once-off Inheritance Tax applies to property subject to a discretionary trust on 25 January, 1984, or becoming subject to a discretionary trust on or after that date.

  • Stamp Duty

    is a tax that is levied on documents. Historically, this included the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions.