September 27, 2012 at 3:36 pm #15141AnonymousInactive
Alliance Insurance Brokers, Drogheda and Skerries, for all your insurance and financial planning needs![attachment=4:1xjqifx1]Alliance.jpg[/attachment:1xjqifx1]
Are you paying tax that you don’t need to???
It’s that time of year when Self-Employed people (and many PAYE people) prepare to do their returns for the Revenue. But is there a way to drive down or wipe out the tax bill? Contributing to a Pension Plan can take a sizeable chunk of your tax bill (or clear it completely in some cases!) Tax relief on pension contributions is at your marginal rate. So if you pay 41%, you get 41% tax relief on your contribution. If you pay 20%, then you get 20% tax relief. So for example, putting €1,000 into a pension can only actually cost €590!
Another way to look at it is if you have a €2,000 tax bill and are on the 41% rate, a single contribution of less than €5,000 will eliminate the tax bill!
Of course, any amount you can afford can still help on the tax side of things, even if you are PAYE and not in a Company Pension Scheme. You are allowed, based on your age, contribute a % of your earnings and get full tax relief. Up to age 30, you can pay up to 15%, 30-40 can pay in up to 20%, 40-50 can pay in up to 25% (and even higher amounts in two bands of the 50’s!)
For many people, it will now be age 68 before they can receive a state pension. When paid employment finishes, there is usually a substantial drop in income. How will you continue a basic lifestyle if you have no provision for retirement income??
It is crucially important to plan early for retirement. The longer it is put off, the more you will need to contribute to get the same level of income in retirement. Contact us to find out what exactly you need to do for your own circumstances to ensure that you will be in a position to enjoy a comfortable retirement!
Tax relief on Life Cover??
While tax relief on standard life cover was abolished many years ago, it is still possible to get tax relief on certain types of life cover. There are some restrictions – the cover is on an individual and not a couple and it can not be assigned to a lender – but for the purpose of having life cover so that your dependents will not suffer a financial loss in the event of your death, it may be possible! Contact us to find out if you qualify?
For this month’s competition, all you have to do is contact either the Drogheda or Skerries offices and obtain a quote for your car or home insurance! As simple asthat! All that obtain a quote will be automatically entered into a draw for a meal for two with a bottle of wine, as long as they mention
Mumstownwhen they call. You can either phone or call into one of the office!
Important Information that may affect you!
Gender Directive: Later this year, the European Court of Justice ruling comes into force making it no longer allowable for gender to be used as a risk factor in most insurance. While there will be many alterations with insurance companies, the main expectation is that life cover and car insurance will increase for females. It may be possible to save you a substantial sum by reviewing your life cover needs and addressing any requirements before the new ruling comes into force. If you’re lucky enough to have your car insurance renewal date before the end of the year, why not contact us for a quote.
These are just some of the areas in which Alliance Insurance Brokers may be able to assist you. For more information or if you have any questions you can contact the Drogheda Office on…
1890 33 21 33 or 01 8021333
Or the Skerries Office on: 01-8493000
Sterner Holdings Limited t/a Alliance Insurance Brokers, Alliance Mortgage & Finance, The Wealth Shop Alliance and Wealth Alliance are regulated by the Central Bank, ref C2234.September 27, 2012 at 3:39 pm #124725JedtMember
That’s really good information, thanks for posting Dave.September 28, 2012 at 8:53 am #124738
Thanks Sabbi, yeah it’s one of those topics that nobody likes to think about…..until it’s too late! We spend approximately 2/3rds of our adult life at working stage and 1/3rd in retirement. With the fact that overall, we are living longer, this means that by the time we are 40 years old, there is less of our working lives left than there will be inretirement!October 1, 2012 at 9:08 am #124763AnonymousInactive
Mailshot Sent.October 1, 2012 at 1:32 pm #124769
If anyone has any questions about the topic of retirement planning options, feel free to either mail or PM me or contact either our Drogheda or Skerries offices.
Dave.October 4, 2012 at 8:07 am #124836
Had a few people say that they would have liked to enter this month’s competition but their renewal dates are not for a while. If you email or phone in your renewal date of your car and/or home insurance, along with your contact phone number, email and location, you will also be entered into the free draw!
You can email firstname.lastname@example.org or phone the Peter Street, Drogheda office on 01-8021333 or 1890-33 21 33, or the Skerries office on 01-8493000. Best of luck!
Dave.October 4, 2012 at 4:43 pm #124846
Just to clarify, some people were looking for an "041" number for the Drogheda office. As both offices share the same central phone system, the 01-8021333 number IS the direct Drogheda number (as well as the 1890 one)
Dave.October 5, 2012 at 10:12 am #124864
If anyone is emailing in renewal dates to enter the competition, please remember to let us know what part of the country you are in.
Dave.October 15, 2012 at 8:07 am #125104
The email address for the competition is email@example.com and don’t forget if your house or car insurance are not due for renewal yet you can still enter the free competition by sending in your contact details and the date of your renewal.
Dave.October 20, 2012 at 7:02 pm #125246FabienneMember
Hope it wasn’t too late to enter.
Laptop died and couldn’t email before.
But even if it’s too late, I just hope that I’ll get lucky next time and in between that you’ll propose a cheaper car and house insurrance.
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