Your Tax Return Expert
Invoices issued to principal contractors in respect of construction services should not include VAT. Principal contractors are customers who have to operate the RCT scheme i.e. deduct tax @ 35% where the Principal contractor does not hold a current Relevant Payments Card. 2. Invoices issued to customers who are not principal contractors should include VAT
In every business there is a certain level of sales at which costs equal profits. This is know as break-even The formula: Don’t worry, it’s fairly simple. To conduct your breakeven analysis, take your fixed costs, divided by your price, minus your variable costs. As an equation, this is defined as: Breakeven Point = Fixed
The benefits of getting your 2014 income tax return done now as opposed to October is a) you can budget for the 2014 income tax now as opposed to waiting till October to find out what you owe b) you will have plenty of time to make and budget for a pension contribution which can be offset
Oliver Niland & Co – Chartered Accountant
Unit 8, Royal Rock Park,
Ballybane Industrial Estate,
Galway.
Telephone: (091) 763817
Mobile: (087) 984 6979
Email: oliver@taxreturnhelp.ie
(Right across from Thomas McDonagh’s hardware store and directly behind the Royal Rock Café )