Personal Taxes

McMahon Keyes & Co. has been advising on a wide variety of tax compliance and consultancy issues for clients since the beginning of the 1990’s.

We have a diverse client base and we have experience of dealing with clients at all levels including individual sole traders, small, medium and large companies.

McMahon Keyes & Co. can advise on the following Taxation issues:

  • Income Tax
  • Capital Acquisition Tax (Gift tax & inheritance tax)
  • Capital Gains Tax
  • Stamp Duty

Income Tax

We prepare income tax returns for a range of incomes, from rental properties to small businesses. We provide advise on tax credits and other available reliefs to suit each individual.

Are you not registered for income tax but think you should be? Contact us and we will advise you on this and we can register you for free.

Remember the Income Tax deadline is the 31st October after the taxable year.

Capital Gains Tax

Have you sold property, shares and any other assets? You may need to file a capital gains tax return regardless if you made a gain or a loss on the transaction. We can advise you if a return is necessary and we can also calculate any tax liability.

If you disposed of assets date you must take note of are as follows:

  • For assets disposed of between 1st January and 30th November preliminary tax must be paid by the 15th December of the same year and the return filed by the 31st October of the following year.
  • For assets disposed of between 1st December and 31st December preliminary tax must be paid by the 15th January and the return filed by the 31st October of the following year.

Capital Acquisitions Tax

This is a tax on gifts or inheritance received. You can receive gifts and inheritance tax free up to a certain threshold and the balance is taxable. The threshold will depend on the relationship between the person giving and person receiving the gift/inheritance. E.g The threshold between parent to child as from the 12th October 2016 is €310,000. This means a child can receive in total €310,000 in value from his/her parents in their life time.

There are a number of reliefs available for gifts and inheritance so feel free to contact for advise on this.

Also, Did you know you can gift €3,000 per annum to a person tax free without it affecting the above mentioned threshold???

Stamp Duty

On the transfer of shares and property you can be liable for stamp duty. We can calculate and submit returns for this.