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Plethora of online resources can save you time and money
Keeping a close eye on your finances has never been more important. It is easy to feel intimidated by the complexities of managing your finances. But things are getting easier with the huge range of free financial websites available. These allow you to keep up to date with the latest tax legislation and compare charges to see if you are really getting value for money.
One the biggest advantages of the internet for any business or individual is the increased ability to control and monitor one's finances. Gone are the days when you had to go to your bank branch to obtain a bank statement, schedule payments or apply for a loan. All of these services are now provided via internet banking.
An internet banking account is simple to open and use. To register for internet banking all you need to do is complete a registration form from the comfort of your own home. Once the registration form has been submitted, the bank will issue you with a security code. From that date on you are no longer bound to bank opening hours, thereby not wasting valuable time travelling to and from the bank.
The Revenue website (www. revenue.ie) is the primary source on the internet for tax information. This website is split into a number of sections: personal tax; business and self assessment; tax practitioners; customs; tax and duties; and online services.
The personal tax section provides details largely for PAYE workers but does supply information regarding the most common tax credits/reliefs, such as service-charge credit and medical expense relief.
For the self-employed, the business and self-assessment section provides details on issues such as the tax implications of running a business, what is required of an employer who operates PAYE, and tax self-assessment rules.
For the more financially aware individual, the website also includes links to tax briefings, which are Revenue's on-line technical journal. These journals provide in-depth knowledge regarding the latest developments in tax legislation.