Hints & Tips
VAT on Bad Debts
Covenants
Small Gift Exemption
VAT on Bad Debts
Can your business claim VAT on bad debts? This only applies if you are on the invoice basis for VAT, you are allowed a VAT credit for bad debts
Covenants
You can claim a tax deduction for up to 5% of your income at your marginal rate where you pay a qualifying covenant to a parent aged over 65
Small Gift Exemption
An Individual can gift up to €3,000 per annum tax free to any person
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