Contact Us

Minister for Finance, Michael Noonan will deliver his second budget on Wednesday the 5th of December 2012. Budget 2013 will take place over a single day this year instead of the two days it covered last year. 

The economic backdrop

The aim of this years budget is to get back at least €3.5 billion in a combination of cuts to spending and in increased taxation. Specifically, the government has talked about a ratio of €1.25 billion in increased to taxes and charges and a further €2.25 billion in spending cuts. 

Budget 2013 Predictions

  • The long awaited details of the new residential property tax will not be announced as part of the Budget – but we expect to hear about it soon afterwards. A figure of 0.5% of the property’s value had been mooted by the IMF however it is likely that the average tax will be in the region of €300 to €500 per house.
     
  • It is likely that there will be changes to the PRSI system and that this tax will now be charged on income that is not from employment – such as rental income and dividends from shares. This will only affect PAYE workers as self employed individuals already pay PRSI on this income.
  • There are reports that the top rate of USC for PAYE workers will be increased to 10% on income over €100,000.  Again this would not affect self employed individuals as they are already subject to this increased top rate on income over €100,000.

    There is speculation that tax relief on pension contributions will be cut. The 41% rate will probably may go down to something like 30% .
     

We can also probably expect increases to the following :-

Carbon tax  –  which will affect gas, petrol diesel .

Excise duty  -  on alcohol and tobacco .

VRT  –  which will increase the cost of new cars.

Motor tax  –  further restrucuring is expected (that means increases!)


We will publish our summary of how Budget 2013 affects your small business on our website here.

Join us in three easy steps

1 Sample image

Get in touch

Arrange a free consultation in person or via video with your local accountant. It’s an informal chat to get to know you and find out more about the help you are looking for.

2 Sample image

Chat to an expert

We clearly explain the support available to you and are happy to act as business advisors in order to help you grow your business.

3 Sample image

Get a fixed quote

Our fees are fixed and tailored specifically to each individual's needs, so that you only pay for the level of support and services that you require.

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?

Local business focus icon

Local business focus

We specialise in supporting independent businesses and work with 6,246 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.

Come and meet us icon

Come and meet us

We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 23 locations, meet with us online through video call software, or talk to us by telephone.

Switching is simple icon

Switching is simple

Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.

See how TaxAssist Accountants can help you with a free consultation

1800 98 76 09

Or contact us