Daily Archives: April 5, 2012

One parent family tax credit

The one parent family tax credit can be claimed if you are a single parent, i.e. widowed, single, separated or divorced, and you have a child who is dependent on you.  The child must reside with you for the whole or part of the year to claim the credit. A child includes: A child of your own A stepchild A formally adopted child An informally adopted child or any child […]

New RCT system

For the first 3 months of 2012 there was a freeze on the RCT withholding tax rates at either 0%, 20% or 35%.  That arrangement is now finished and with effect from 1 April 2012 the withholding tax rates applied to subcontractors can change at any time depending on their compliance record.  Where there is a change in RCT rates, Revenue will advise both the subcontractor and the principals invovled.  […]