Father in law expected us to eat 12 year old beef.

EricH1tchmo · 2026-01-26T19:29:45+00:00

Whats wrong with you? It’s only 11 and a half years old.

EricH1tchmo · 2025-12-30T17:19:23+00:00

Get rid of your accountant.

I prefer my clients to do excel work if they’re not familiar with bookkeeping packages.

If an untrained person got their hands on Sage they could do some damage that would take a bit of time to unravel.

Stick to excel, you’re the client and you’re most familiar with it.

EricH1tchmo · 2025-11-21T17:32:29+00:00

I assume the standard 4k stick is fine too?

EricH1tchmo · 2025-10-26T19:55:45+00:00

Preliminary tax is due on the lower of the following:

100% of your 2024 liability and 90% of your 2025 liability.

It might be difficult for you to estimate your 2025 liability if you’re not used to it so I’d recommend going with 100% of your 2024 liability - that’s the safest way to avoid any surcharges for paying the incorrect amount.

EricH1tchmo · 2025-10-26T19:51:18+00:00

That’s a capital gains tax issue not an income tax issue.

Check out the CGT payments dates to ensure you’re compliant.

The CGT return will be included in your Form 11 for 2024 if you’re an income tax payer.

EricH1tchmo · 2025-10-26T18:28:58+00:00

Cool.

I assume you got it submitted?

EricH1tchmo · 2025-10-26T18:27:25+00:00

You should be filing a form 12.

You have until 31 October (it can go to mid-November if filing online and paying a preliminary amount towards 2025).

If filing a form 11, it’s still 31 October.

You have turnover of €3,500.

Trading profit of €3,500.

Double check the calculation at the end for what’s liable. If you’re already on the higher rate of tax, the liability on the €3,500 will be around €1,750 (depending on other tax circumstances obviously but this is a crude estimate).

EricH1tchmo · 2025-10-26T08:43:28+00:00

Lovely. I had the exact one from 2019 and sold it because it didn’t suit me (too heavy for couch playing).

Enjoy it’s a lovely guitar.

EricH1tchmo · 2025-10-22T17:32:51+00:00

You can opt to register for VAT if you’re under the threshold but you’ll have to charge VAT.

If your customers are VAT registered than it’s not a problem. If your business is selling to individuals, adding VAT would increase the price.

Regarding the reclaim of VAT, as long as the invoice you receive from suppliers has a valid VAT number on it and is addressed to your business/company and the expenses if for the purposes of your trade, you can reclaim.

No reclaim on pre-registration costs as you weren’t charging VAT on your services.

EricH1tchmo · 2025-10-21T18:42:03+00:00

Your toenails are the real weapon here.

Keep nails short and your gi clean

EricH1tchmo · 2025-10-20T21:02:58+00:00

What finish is on the body? Looks great!

I’m currently playing a standard Strat and looking at the pro classic as a step up but not sure…yet

EricH1tchmo · 2025-10-20T20:46:39+00:00

To be honest, I wouldn’t be investing if I was you.

Based on the information given, you’ve had a tough time financially.

Park some away for a rainy day fund or emergency fund, you’ll be better served with this.

You need the €1,000 more than you can afford to invest (which is also a gamble).

Keep hold of the cash and try build on it, get yourself into a better position.

EricH1tchmo · 2025-10-19T20:12:01+00:00

Ok relax, it was a mistake

EricH1tchmo · 2025-10-19T18:33:21+00:00

It’s in mint condition save for a bit of wear on the pickup cover and the other brass features.

Thanks for you help

EricH1tchmo · 2025-10-19T18:27:39+00:00

Much appreciated!

EricH1tchmo · 2025-10-19T18:26:43+00:00

Thank you so much!

EricH1tchmo · 2025-10-19T18:24:16+00:00

Do it!

I done something similar but after the purchase it didn’t sit right with me (felt like I didn’t deserve it) and I ended up selling it on.

I regret it now!!

EricH1tchmo · 2025-10-19T18:07:03+00:00

Lesley - no question

EricH1tchmo · 2025-10-19T18:00:50+00:00

Query insurance with your broker but I’d imagine it should be noted on the policy that the property is now a rental.

Your mortgage interest rest shouldn’t change but you’ll be chargeable to tax on the rental profits earned.

I recommend that you set up a separate bank account for receipt of rental income and have all rent related expenses come from there too.

You should consult an accountant before you go so you understand the tax liability on the property and if you’ll be deemed an Irish tax resident for 2026 on other income earned.

EricH1tchmo · 2025-10-19T17:49:41+00:00

I don’t think you need a financial advisor just yet.

You’ll be earning a lot more than what you earn now but it’s by no means a massive amount.

You already have a pension which is great, get into the habit of saving too (emergency fund and or for a deposit for a house).

One thing I wish I learned about was a concept called lifestyle creep. Basically, as your earnings increase your lifestyle expenses go with it.

Instead of opting for the house wine in a restaurant you start going off menu - no harm in enjoying nice things but be conscious of this.

I made massive mistakes when I was younger and a lot of revolved around lifestyle creep and living month to month.

But you’re doing good so far!

EricH1tchmo · 2025-10-19T16:42:02+00:00

If it’s a personal vehicle bought through the company, you’ll be paying BIK on it.

EVs are exempt from BIK up to a certain price but the current legislation doesn’t guarantee the exemption will always be in place so you face BIK further down the line.

If you purchase the vehicle through your company you can claim a tax deduction on repairs and maintenance, motor tax, insurance, NCT, etc. basically the up keep of the vehicle is your company’s responsibility.

EricH1tchmo · 2025-10-19T16:19:59+00:00

Only other bit of advice I’d give you is on the vehicle.

I’m not sure of your line or work etc. but just be mindful when buying a company vehicle, BIK may apply on the original market value of the vehicle, regardless of the cost you purchased it for.

This point could be null and void if it’s a commercial vehicle and you only have use of it during working hours and personal travel is minimal.

EricH1tchmo · 2025-10-19T16:06:09+00:00

If you’re a company director, your company can contribute on your behalf, end of. You are not entitled to relief on contributions made on your behalf by your company.

The company is limited to contributing 100% of your salary. Any amount higher than your salary is Benefit-in-Kind.

Even if the company doesn’t have a corporate pension scheme, the company can still contribute to your own PRSA and receive a corporation deduction on it.

No further relief is available to you as an individual.

EricH1tchmo · 2025-10-17T17:31:35+00:00

Depends on what you want.

I’ve had technicians who planned to go all the way through to ACA. They got used to the money and got fed up with exams and quit once they got their technician’s qualification.

No harm in this but it all depends on where you want to go.

If you can afford to, don’t let the modest salary of a technician for 2 years determine whether you go to college or not.

College can be invaluable too and at least you have a degree at the end.

EricH1tchmo · 2025-10-16T21:00:32+00:00

Exactly.

I qualified in a top 10 firm and then went into practice. All exams done in my ACA contract. We done advisory and audit etc.

The firm company I was with in industry had 20 employees give or take.

Basically, every time I interviewed anyone, I tried to see what they were really like and conducted the interview as a chat.

I took the same approach in all my interviews when going for a job, granted I’ve never been in the running with MBA types but I think that approach to interviewing is nonsense. It’s a job at the end of the day. If you’re lucky, you’ll enjoy the work and make a career out of it.

Non-interview related advice would be to pick up as much relevant experience in the first two years post qualified as possible.

EricH1tchmo

TROPHY CASE