moneymattors
Registered User
- Messages
- 3
Need advice please
My dad employed the same accountant since 1998 when he began working as self employed. Hitherto his work had been seasonal and he was not eligible to pay tax.
When he retired last year he found he was not eligible for a contributory pension. It turned out his profits did not exceed the threshold for PRSI payments and he had not been advised by his accountant to apply for voluntary payment eligibility. My dad had taken it for granted that he was paying PRSI for each tax year and did not question the accountant.
He is now gutted. Unfortunately he is not eligible for non contributory pension either since my mum is employed as a public sector worker.
After working all his life is he now faced with life with any form of a pension.? He has a total of 174 full rate paid contributions ie a yearly average of 5 contributions when the average demanded is 10. Is there anyone out there who can advise him or guide him on positive steps to follow? He refuses to have to rely on us to “keep” him for the remainder of his life.
My mum is ready to retire and it seems that the pair of them will now be forced to “Split” her pension for survival after the two of them working hard and keeping to the rule books with regard to revenue all of their lives!
There was malpractice and I feel the accountant was at fault. Dad belongs to the generation where you don't go around suing your friends and I feel that option is pretty much off the cards. Besides, he now questions whether his appointed accountant was ever really qualified in the first place!
My questions are:
a: How do you find out if he was qualified? Is there a list of all accountants on line or something? His name does not appear on "Chartered accountants Ireland 'search but that might be something different. It would be a good starting point.
My dad employed the same accountant since 1998 when he began working as self employed. Hitherto his work had been seasonal and he was not eligible to pay tax.
When he retired last year he found he was not eligible for a contributory pension. It turned out his profits did not exceed the threshold for PRSI payments and he had not been advised by his accountant to apply for voluntary payment eligibility. My dad had taken it for granted that he was paying PRSI for each tax year and did not question the accountant.
He is now gutted. Unfortunately he is not eligible for non contributory pension either since my mum is employed as a public sector worker.
After working all his life is he now faced with life with any form of a pension.? He has a total of 174 full rate paid contributions ie a yearly average of 5 contributions when the average demanded is 10. Is there anyone out there who can advise him or guide him on positive steps to follow? He refuses to have to rely on us to “keep” him for the remainder of his life.
My mum is ready to retire and it seems that the pair of them will now be forced to “Split” her pension for survival after the two of them working hard and keeping to the rule books with regard to revenue all of their lives!
There was malpractice and I feel the accountant was at fault. Dad belongs to the generation where you don't go around suing your friends and I feel that option is pretty much off the cards. Besides, he now questions whether his appointed accountant was ever really qualified in the first place!
My questions are:
a: How do you find out if he was qualified? Is there a list of all accountants on line or something? His name does not appear on "Chartered accountants Ireland 'search but that might be something different. It would be a good starting point.