Category: Financial Planning

Helping you on Life's Financial Journey

Understanding Recent Changes to PRSAs: Significant Benefits for Business Owners As We Approach Company Year End’s

With effect from 1st January 2023, significant changes have taken place in the realm of pension planning and specifically with Personal Retirement Savings Accounts (PRSAs). These updates have had a significantly positive impact for business owners ushering in new possibilities for increased pension contributions and most importantly, full corporation tax relief.    From 1st January…
Read more

Your Goals, Dreams & Aspirations-Why use Cashflow Modelling

When providing financial planning support to our clients, we do so to help create a sense of financial wellbeing which we describe as being able to: Fully meet Your current financial obligations, Feel secure in Your ability to meet Your future financial obligations, Have peace of mind when it comes to the “What Ifs” life…
Read more

Succession Planning for Business Owners

It is inevitable but at a certain time in a business’s lifecycle and as people approach a certain age, the business and the business owners must begin to plan for their exit from the business. Organising a successful exit from your business is a process, and one that needs to be planned carefully, whether you…
Read more

Taxing of Lump Sum Termination Payments

With recent news of redundancies in tech sector, below is an overview of the tax treatment applying to lump sum payments received on cessation of employment as certain payments may attract tax exemptions. Statutory Redundancy Payments: Where you receive a statutory redundancy payment the amount received is ignored for taxation purposes as statutory redundancy is completely…
Read more

Retirement Funding Update 2023

Finance Act 2022 was passed on 15 December 2022 and the new BIK free employer PRSA contributions are now in force since 1 January 2023. A Brief Summary of the changes as follows: Prior to 01st January 2023, an employer contribution paid to an employee or Director’s PRSA was a deemed to be a Benefit…
Read more

Overpay Your Mortgage or Invest – Is there a simple Yes or No answer & which is better?

As everybody knows at this stage, interest rates on mortgages have shot up recently, especially for those previously fortunate enough to be on Tracker rates. While this may well be the first such increase for many borrowers in well over 10 years, all the indications from the most recent ECB meeting is that further increases…
Read more

Budget 2023

Yesterday, Paschal Donohoe TD (Minister for Finance) and Michael McGrath TD (Minister for Public Expenditure and Reform) delivered the Budget 2023 and we have summarised some of the key personal tax related changes in our Budget Summary which is available by clicking HERE. 

IORPs II

An update for our SME clients and for those with responsibility for running your company’s pension scheme about the introduction of new EU legislation – IORPS II – and the impact that this new legislation will have on the future governance and management of defined contribution pension schemes..  If you are looking for information on…
Read more

The Value of Financial Advice

In May 2021, Brokers Ireland commissioned iReach to conduct consumer research in relation to the value of financial advice. The research was nationally representative by age, gender, region, and socioeconomic status. It provides insights into savings/ investments, pensions, financial security, and the role of financial advisors. Using a Financial Advisor:  From those surveyed, 37% had…
Read more

Eolas Money Providing Greater Engagement Options for Members of Company Pension Schemes:

Research has shown that members achieve greater success and retirement fund outcomes when regular engagement is undertaken between the member and their retirement planning advisors. Therefore, Eolas Money has introduced our Eolas Engage App so that members don’t need to wait until their annual review meeting to take any actions or pose question to us…
Read more