skip to Main Content

Personal Tax Matters

Our tailored tax service ensures that you are compliant, tax-efficient, and effective in your tax planning and returns. 

Personal Tax Planning

It can be difficult to navigate if you are new to managing your personal tax affairs. At Gilroy Gannon, we aim to take the time consuming and stressful task of tax planning so that you can focus on your business. Our service looks at planning your tax efficiently and what tax reliefs you may be eligible for. 

Our personal tax clients are employees who pay tax on a P.A.Y.E. basis, business owners, and self-employed individuals. Our wide range of personal tax services includes advice on tax planning, identifying tax relief opportunities, and computing tax liabilities.

What is Taxed

Three personal taxes need to be paid on employment income — PAYE, Pay Related Social Insurance (P.R.S.I.) and Universal Social Charge (U.S.C.).  

The taxed amount is decided by your level of income how many tax credits you have. When submitting your tax returns, there may be circumstances that will aid in reducing your income tax; these include changes in 

Your personal circumstances and status, plus taking advantage of all tax reliefs available, is an important consideration when reducing income tax.

Our Process 

Partnering with Gilroy Gannon, we will take you through our personal tax process, which includes looking at your income tax for the current year and the four previous years. Often there are missed tax relief claims in the previous years that we can find for you. 

We aim to ensure that all aspects are covered during our analysis before submitting your tax; this includes your personal, work, and family circumstances. We work closely with you during the process so that you are aware of what is happening every step of the way.

Tax Advice

Once our analysis is complete, you will receive a comprehensive report prepared by our expert team. This report is fully compliant with all Revenue personal taxation rules and guidelines. This report calculates your tax liability, identifies any tax planning opportunities, and ensures tax efficiency.

Tax Relief

There are often missed opportunities when it comes to tax reliefs. We identify where you can avail of those opportunities in your tax planning. 

*Please note that tax credit and tax relief are not the same. A tax credit reduces the tax you have to pay, whereas tax relief reduces the amount of income you pay tax on.

Here are some of the tax reliefs you may be eligible for as a self-employed or P.A.Y.E. individual: 

Rent & Power

Any cost associated with your premises is guaranteed to be one of your highest costs. Rent, water, lighting, heating, and power costs can all be claimed as an expense.

Staff Costs

If you have people you employ, there are specific costs that you can claim, such as salaries, bonuses, recruitment agency fees, subcontract costs, and insurance contributions.

Financial Charges

Charges from your bank, credit cards, business loans, and any other creditor you may connect with tend to add up, but they can also be deducted from your taxable income.


Insurance premiums are another cost that is deducted from your tax return. These include property insurance and professional indemnity.

Medical Expenses

Tax relief is available for certain dental procedures, private health care, and long-term care. 

Starting a Business

Starting a business can be costly, but there are reliefs to ease the burden of cost.

Work From Home

The cost of working from home allows you tax relief items such as electricity, heat, and broadband.

Third -Level Fees

Tax relief is available for third-level students in the form of paid fees. 

Gilroy Gannon
Personal Tax Expertise

Gilroy Gannon has the capacity to deal with everything to do with payroll such as liaising with Revenue and maintaining compliance within a menu of payroll services that can be tailored to fit your business. If you would like to arrange an initial consultation to discuss your needs, please contact Sheila or Deirdre who will be happy to assist.

Personal Tax+
Gilroy Gannon offers Personal Tax Advice as a stand-alone service. It is also strategically combined with other Legal, Tax, Consulting, Financial and Business Advisory services which we are happy to discuss at your convenience.

Stay up-to-date with
the Latest News

By signing up for our newsletters, you get the latest news, events, and financial tips from Gilroy Gannon straight to your inbox.

    Back To Top