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  1. M

    Are lenders more likely to give discounts on trackers if the ECB raises interest rates?

    Thanks for the feedback. I am already at my 25% max personal contribution into my company pension so that option is exhausted. The spare cash is intermittent and that is why I thought putting it off the mortgage would be a good way of stopping it from being absorbed into my bottomless household...
  2. M

    Are lenders more likely to give discounts on trackers if the ECB raises interest rates?

    With talk of the ECB starting to increase rates in the near future, will this: Increase the possibility of lenders doing early payment deals with customer to offload tracker mortgages from their books? Decrease the possibility? Have no impact on their decision? I have a tracker mortgage of...
  3. M

    Is my private pension taxed?

    I have a defined contribution pension with irish life. I pay into it every month through my payroll and my company also pays a contribution. I estimate it will have a value of €600,000 when I retire.Will I have to pay tax on this when I start drawing it down in retirement or is this tax free?
  4. M

    Pricing a product for sale

    I am making up a pricing calculator for goods I sell. I want to figure out my margin (Income) after all costs are deducted from sales. Vat is confusing me. Say my sales price is 12.30 and includes 2.30 vat Net sales price is therefore 10.00 Say my cost price is 9.00 and includes 1.68 vat Net...
  5. M

    State pension entitlement for Self Employed Director

    I understand you need 30 years paid up PRSI record so I have requested my record from Revenue to see where I am at.
  6. M

    State pension entitlement for Self Employed Director

    The class on my payslip is S1. I have been paying this class for the past 3 years. Prior to that I was paying employee class for a large number of years, circa 20. I hope to pay S1 until retirement. IS the pension entitlement different for Class S to Class A? Is it means tested? (based on...
  7. M

    Cheapest way to buy shares and receive share certificate

    Thanks for the feedback. Looking at their website, it looks like they charge a recurring annual fee as well as a commission on the transaction. Does that sound right? I read an article in the Indo a while back that said one cheap option for purchasing shares is to open an account, purchase the...
  8. M

    State pension entitlement for Self Employed Director

    I am a director of a Ltd company with a 50% shareholding. I think this makes me 'self employed'. When I reach state retirement age, am I automatically entitled to a state pension and if so what type? Will it be means tested?
  9. M

    Cheapest way to buy shares and receive share certificate

    I want to buy shares. I will be investing €10,000 and expect the investment to be 5 - 10 years so I won'y be buying and selling on an ongoing basis. From my research, it seems there is a wide variance between brokers when it comes to fees. I would appreciate any kind of a steer in the right...
  10. M

    Can you be a shareholder without registering it with CRO?

    I took your points and passed them on. He is not concerned with the main shareholder doing anything funny as they are building up the company to sell and he is an integral part of that. It turns out that they agreed his 30% shareholding about 9 months ago but are only getting around to lodging...
  11. M

    Can you be a shareholder without registering it with CRO?

    I have a friend who has been pushing to become a shareholder in a limited company. The owner (and shareholder) of the company has verbally agreed to giving him a 30% shareholding in the company and said he will write him a formal letter to confirm this. Does any of this hold up to legal or tax...
  12. M

    What is the sales date for CGT purposes?

    I was shareholder in a business that went into liquidation. While in liquidation, the liquidator was able to sell the business and after all creditors are paid, there will be a surplus for the shareholders. Although the business changed hands to new owners as part of the liquidation in 2015, the...
  13. M

    BOI Shares - Practical Questions

    I have a few practical questions with regard to purchasing Bank of Ireland shares. If I purchase shares today at say .33c each, can the bank issue more shares in the future and mathematically dilute the value of my shares or does a future share issue have no direct mathematical effect on the...
  14. M

    Paying lump off Tracker Mortgage or State Savings - options

    Thanks for the replies. It is a mortgage on my PPR and Pepper don't apply mortgage interest relief (I just checked) so I'll have to ring revenue commissioners for clarification on that one, although the mortgage is over 10 yrs old and I thought you only get mortgage interest relief for the first...
  15. M

    Paying lump off Tracker Mortgage or State Savings - options

    I have a tracker mortgage with Pepper Finance. It currently stands at approx €210,000 with 222 payments remaining. Current repayment is €1,001 per month (€97 of which is interest, per Pepper) The tracker rate is .50% above ECB so my interest is .55%. I was recently left money and am considering...
  16. M

    Drop in Share Value to reduce CGT liability

    I hope this is the right forum for my query. I will have a large enough CGT liability this year and I believe I had a shareholding a number of years back that dropped in value for which I could offset my losses. Unfortunately, I have no paperwork. Back in around the year 2000 to 2005 I was part...
  17. M

    Treatment of VAT in a liquidation

    Hi Callybags, Yes the surplus is after the liquidators expenses (net of VAT) and the payment of the o/s VAT bill. (and all other creditor bills) If I understand you correctly, in the scenario above, if all other creditors have been paid what they are due and there is still a surplus, the 4k...
  18. M

    Treatment of VAT in a liquidation

    My company went into liquidation. The liquidator was able to secure a sale of the liquidated business and it will generate a small surplus when all realised revenues and costs are offset. I will receive this surplus as a shareholder. Within the figures, Revenue are owed €10k in VAT. The...
  19. M

    Self employed and employee pension query

    I am running my own business, am a self employed Director. My salary is circa €150k per year. If I pay a pension of say €30k per year, will this reduce my income tax liability AND my corporation tax liability (assuming I have profits liable to CT). Also what tax savings am I likely to...
  20. M

    Start Up Business - Accounts Package recommendation

    We are a recent start up and require and accounts package. Requirements Debtors - we have an insurance software for processing invoices so expect to journal in a debtors figure each month. Creditors - approx 20-30 per month. Bank Rec - ideally integrated. Payroll - ideally integrated so...
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