End of Year Tax Checklist & Tax Tips 2016

With the year-end approaching we have compiled a checklist to ensure that you are availing of certain tax opportunities before the end of the year:

Financial Statements

Review your accounts figures before your year end to plan any closing transactions to avail of tax opportunities, e.g.

Pension Contributions

Tax Free benefits in kind

Certain benefits can be provided to employees free of tax, for example:

Other ideas to consider

Deadlines to remember

For gains arising between 1/1/15 to 30/11/15 the capital gains tax is due to be paid by 15/12/15

For gains arising between 1/12/15 to 31/12/15 the capital gains tax is due to be paid by 31/1/16

Other matters to consider

If you are in receipt of rental income make sure to pay the PRTB registration fee every time there is a change of tenant AND every four years if no change of tenant – if you do not Revenue can withdraw tax relief on interest payments.

Contact your OSK tax adviser Imelda Prendergast Director OSK for more details or visit OSK Contracting or OSK Small Business Support for more details.


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