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Tax free schemes for PAYG workers

  • 14-03-2016 12:47PM
    #1
    RedXIV
    Registered Users, Registered Users 2, Paid Member Posts: 8,569 ✭✭✭


    Hi all,

    I'm hoping that I may get some good ideas here for something that popped in my head over the weekend. I currently contribute to a pension scheme in work which is great because I can contribute up to 15% of my wages tax free which is great as I get taxed pretty heavily on my current wages.

    I was wondering is there anything else other than a pension I can use to make the most of my wages before PAYE tax is applied to my salary?

    May be nothing but just thought I'd ask in case anyone was aware.

    Cheers!
    Red


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,595 ✭✭✭✭CIARAN_BOYLE


    RedXIV wrote: »
    Hi all,

    I'm hoping that I may get some good ideas here for something that popped in my head over the weekend. I currently contribute to a pension scheme in work which is great because I can contribute up to 15% of my wages tax free which is great as I get taxed pretty heavily on my current wages.

    I was wondering is there anything else other than a pension I can use to make the most of my wages before PAYE tax is applied to my salary?

    May be nothing but just thought I'd ask in case anyone was aware.

    Cheers!
    Red
    Business Expansion Scheme is close though some of the relief is only available after 4 years.


  • #3
    RedXIV
    Registered Users, Registered Users 2, Paid Member Posts: 8,569 ✭✭✭RedXIV


    CIARAN_BOYLE wrote: »
    Business Expansion Scheme is close though some of the relief is only available after 4 years.

    Just did a quick google on this, this looks a little like investment in other companies? Very interesting! Thanks for this!


  • #4
    jjjd
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭jjjd


    RedXIV wrote: »
    Just did a quick google on this, this looks a little like investment in other companies? Very interesting! Thanks for this!

    More info here:

    http://www.revenue.ie/en/tax/it/leaflets/it55.html


  • #5
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    RedXIV wrote: »
    Just did a quick google on this, this looks a little like investment in other companies? Very interesting! Thanks for this!

    Just as long as you're not too worried about actually seeing your investment again...! ;)


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