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Help to Buy Scheme for First Time Buyers

The help-to-buy incentive has been the focus of attention in the wake of Budget 2017 but especially since the scheme opened for applications in January but considerable confusion still surrounds the practicalities of how the relief will work.

Put simply, to avail of this scheme you must be a first-time buyer, your mortgage must be for at least 70% of the value of the property, the property cannot be valued at more than €500,000, it must be newly built – ie no second-hand homes – and buy-to-let properties are excluded, so you must live there yourself.

Purchases Before Jan 1st 2017
The rules are slightly different for houses bought or built between July 19th 2016 and Dec 31st 2016. These properties will be eligible for tax rebates on purchases up to €600,000 – but the rebate will still be limited to €20,000.

Bonus: If first time buyers also manage to take out a mortgage with cashback they could get even more cashback.

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Help to Buy Scheme for First Time Buyers

The help-to-buy incentive has been the focus of attention in the wake of Budget 2017 but especially since the scheme opened for applications in January but considerable confusion still surrounds the practicalities of how the relief will work. Put simply, to avail of this scheme you must be a first-time buyer, your mortgage must be

Read More »

Tax-Saving Opportunities

It’s time to talk about tax already I’m afraid. If you are self-employed you must calculate your tax liability and make a payment by 31st October 2016 (12th November if registered with ROS) in respect of your: 1. Final Tax Assessment for 2015 2. Preliminary Tax for 2016 The good news… You can reduce your

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Tax-saving opportunities

It’s time to talk about tax already I’m afraid. If you are self-employed you must calculate your tax liability and make a payment by 31st October 2016 (12th November if registered with ROS) in respect of your:
 
1. Final Tax Assessment for 2015;                                                    2. Preliminary Tax for 2016.
 
The good news…

You can reduce your 2015 Final Tax liability and your 2016 Preliminary Tax liability by making contributions to a Personal Pension plan or to a PRSA plan by 31st October 2016 (or 14th November 2016 for ROS users) and electing to backdate the tax relief to 2015.

Example:

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Who is going to fill their shoes?

Who is going to fill their shoes? Have you considered the impact the death of a key employee or business partner would have on your business? Business owners and their families throughout Ireland are facing this issue everyday. Some, however, are much better prepared than others. As a business owner, you protect your property, your

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Key Person / Partner

Have you considered the impact your death, the death of a key employee or business partner would have on your business? As a business owner, you protect your property, your vehicles and equipment. But have you considered what would happen to your business if you died prematurely and the financial impact that it could have

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Who is going to fill their shoes?

Who is going to fill their shoes? Have you considered the impact the death of a key employee or business partner would have on your business? Business owners and their families throughout Ireland are facing this issue everyday. Some, however, are much better prepared than others. As a business owner, you protect your property, your

Read More »

Key Person / Partner

Have you considered the impact your death, the death of a key employee or business partner would have on your business?

As a business owner, you protect your property, your vehicles and equipment. But have you considered what would happen to your business if you died prematurely and the financial impact that it could have on your family and your business? Would your family stay in the business or would they sell it?

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Avoid these 10 Mistakes

Things NOT to do!

Avoid these mistakes if you want to lead a richer life!

1) Spend now, pay later

Don’t throw your money away when you’re young, assuming you’ll be richer when you’re older. People in their 40s and 50s actually have the most financial problems. Enjoy your financial freedom when you’re young, but don’t squander it.

2) Fail to save

Too many people claim they can’t afford to save while blowing their cash on gadgets they don’t need, clothes they never wear and nights out they regret in the morning. Set up a regular savings plan by standing order or direct debit, so you don’t notice the money leave your account. Then have fun with what’s left.

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