If so, the start your own business relief may apply to you – The Start Your Own Business scheme provides for relief from Income Tax for long term unemployed individuals who start a new business. The scheme will provide an exemption from Income Tax up to a maximum of €40,000 per annum for a period

Read More…

CGT is a tax on capital gains arising on the disposal of assets owned by you. At its simplest, deducting the price you paid for an asset when you acquired it from the sale proceeds when you dispose of it gives you the chargeable capital gain. Example You purchase shares in January 2015 at a

Read More…

What is “gross profit” ? Gross profit is sales minus cost of goods or cost of services It is what is left over after a company has paid the direct costs incurred in making the product or delivering the service A business has to make enough gross profit to covers its overheads such as light

Read More…