Insolvency and bankruptcy are debt solutions that should finally come into their own in 2016, now that the legal process and regulations have finally been revised to reflect the reality of personal indebtedness in Ireland and how it is done in the UK and other economies similar to our own. The most important...
Property
MONEY TIMES: ‘Thoughts on the bear market’
MONEY TIMES: ‘Thoughts on the bear market’
A ‘hard landing’. Now those are two words to send shivers down the spines of some readers who’ve been through it before and are wondering this week if it is happening again? I hope not. But global stock markets have now officially fallen into a ‘bear’ market, that is, a 20% drop in values since their April 2015...
Won the lottery or had a windfall?
Won the lottery or had a windfall?
The Lotto jackpot might have hit €10 million but that’s the kind of money that only appears in our dreams…and even comes with its own set of pitfalls. For most of us lucky enough to enjoy any kind of windfall, the sums involved tend to be a great deal more modest, perhaps €20,000 or €30,000 net after selling a...
Time to get planning for your retirement
Time to get planning for your retirement
In a recent column, I reminded readers that with approximately half of all private health insurance renewals coming up in the first three months of the New Year, you needed to give yourself enough time to shop and compare prices if you wanted to avoid overpaying for your cover in 2016. Health insurance is now a very...
Finance Q&A…
Finance Q&A…
Mr TE writes: “A year ago my wife and I sold our house and moved in with my 60 year old widowed mother. We used our own money to create a granny flat for her. She has agreed to sell us the house, worth €400,000 and to accept €250,000. Will we have to pay gift tax on the €150,000? Is there a more tax-efficient...
The war on cash is heating up
The war on cash is heating up
The phasing out of one and two cent coins by a voluntary campaign between retailers and the Central Bank that began on October 28th has probably gone unnoticed by most of you. Coin rounding is part of a wider programme however, to move Ireland closer to a cashless society. And some people suggest it’s a trend that we...
An income boost from UK pensions
An income boost from UK pensions
Are you receiving a UK state old age pension? Did you – like hundreds of thousands of Irish emigrants work in the UK, pay National Insurance contributions (popularly known as “the stamp”)? If you did and are now getting a weekly UK pension, no matter how small or large, you might be interested in an opportunity...
Don’t overpay on health insurance
Don’t overpay on health insurance
This is the start of the busiest time for private health insurance renewals, for companies renewing their corporate schemes and for individuals. And that means you have a chance to save yourself, your family or your company, hundreds or even thousands of euro over the next year by reviewing and changing your existing...
Budget Windfall could prove insurance lifesaver
Budget Windfall could prove insurance lifesaver
What should you do with the tax refund or savings that you will be getting back in your pocket as a result of Budget 2016? If you have dependents, this is a great opportunity to address not just expensive outstanding debts, but shortfalls in your insurance protection and pension contributions. Last week’s Budget was...
Pre-Empting The Budget
Pre-Empting The Budget
Budget Day falls on this newspaper’s publication day so I can only speculate as to whether Minister Noonan has delivered on any of the well flagged changes – to possibly lower the hated Universal Social Charge (USC), to widen tax bands and make good on higher child benefit payments. Will he also offer more...
When ‘Phishing’ for Money Turns into Vishing
When ‘Phishing’ for Money Turns into Vishing
You might be amazed to hear that the clever little ‘vishing’ fraud revealed recently by the Gardaí actually succeeded in scamming amounts as high as €38,000 from the mainly elderly people who fell for it. Who would agree to transfer such huge sums over the phone, even if they did think they were speaking to a person...
File & Pay deadline day on the way
File & Pay deadline day on the way
You have one month or, one month and 13 days if you have a computer, access to the internet and can follow some pretty simple on-line instructions. I’m referring, of course, to the annual deadline that hundreds of thousands of people come to dread every year: the Self Assessment File & Pay tax deadline and it...
