The Importance of Financial Planning

Reminder to Submit Your Pension Contribution Before the Pay and File Deadline

We’re just writing to remind you to take full advantage of the generous tax relief available on your 2015 pension contribution before the pay and file deadline of 31st October, or 10th November if you file through Revenue Online Service (ROS).

Depending on your age and income, you may be eligible for up to 40% tax relief on your personal pension contribution for 2015.

Depending on your age and income, you may be eligible for up to 40% tax relief on your personal pension contribution for 2015

Every €100 you contribute to your pension could cost you as little as €60*

* Revenue rules, age and income related rules apply.

With tax free growth on your investment we believe it is a highly efficient and effective method of converting your current income into long term personal wealth.

To take full advantage of this generous tax relief, review your existing pension funds and start your Lifetime Financial Plan please call us at 046 9240961 or visit our website at

We look forward to hearing from you.


Aidan Wall

Aidan Wall


Aidan Wall is a Qualified Financial Advisor, a Fellow of the Life Insurance Association and a Senior Investment Advisor.
Aidan has been providing impartial financial advice to clients since 1983, and he has acquired vast experience in the areas of Financial Planning, Family Income Protection, Retirement Income and Investments.


Dr Michael Wall

Dr Michael Wall


Dr Michael Wall, PhD, is an Authorised Product Advisor (APA).
As an Authorised Product Advisor (APA) Michael is working under the mentorship of Senior Financial Advisor, Aidan Wall and has completed his QFA (Qualified Financial Advisor) examinations.


The Importance of Financial Planning

Financial Planning for Your Children’s Third Level Education

Education is the foundation to a successful and fulfilling future. The cost of your children’s third level education is an expense which your Lifetime Financial Plan should encompass. This is estimated to range between €11,838 and €13,917 per academic year, which equates to between €47,352 and €55,668 for the completion of a 4 year degree course. Below is a breakdown by institution of the estimated costs associated with supporting a third level student living away from home.

3rd Level Costs Graph

While grants and scholarships may go some way to part fund a course, at Lifetime Financial Planning we believe that planning ahead in a tax efficient manner is the key to managing this expense.

Call us at 046 924 0961 to find out how regular savings of small amounts over a medium term can provide you with the means to cope with this considerable expense more easily.

The Importance of Financial Planning

Tax Saving Tips for Managing Your Stocks and Shares

Many people now own shares in publicly listed companies such as Glanbia, Ryanair, Kerry, Vodafone etc, but some are unaware that a little care and attention in managing your stocks and shares can save you a considerable amount of money in tax.


Shares sold at a profit or Gain incur a Capital Gains Tax liability. The current rate is 33% of the Gain.

The Gain is the difference between the sale price and the original cost price of the shares. So it is important to have a record of the original cost of the shares. This is known as the Base Cost.

Tax saving – Previous Losses

Previous losses on assets such as Property, Bank shares, (Anglo), etc are available for set-off against future gains. So any Gains will be tax-free until the previous losses are completely used up.

Tax saving – Annual Tax Exemption

Individuals can make a Gain of €1,270 free of Capital Gains Tax in each tax year. By holding the shares in joint names, spouses can generate Gains of €2,540 tax free each year.

It is important to utilise the annual €2,540 Exemption from Capital Gains Tax. This is done by “bed and breakfasting” the shares.

Bed & Breakfasting

“Bed & breakfasting” means selling a sufficient number of shares each year to generate a Gain of €2,540 (€1,270 for an individual), and buying them back again after a minimum of 30 days. The effect is to increase the Base Cost of the shares, and thereby lessen the Capital Gains Tax liability.

There is a risk that during the 30 days, the shares might jump in price. Of course if you sell, and buy back at a higher price, you lose some of the benefit of “bed & breakfasting”.

Dividends and Scrip Dividends

Dividends are a significant element of value in ownership of shares. By ensuring that you own the shares at the “ex-dividend date” you maintain your entitlement to the dividend.

Some companies offer the option of “Scrip Dividends”. This means the company issues new shares instead of paying cash dividends. There is no tax advantage for the owner, and scrip share certificates are liable to be lost. Replacing a lost certificate is expensive, and may cost more than the shares themselves are worth, making it uneconomic to replace a certificate for a small number of shares.

Our Recommendation

The paperwork generated by even a small amount of shares held in paper certificates can be daunting and confusing. We recommend holding shares in a Stockbroker account.

This ensures that

  • no loss of share certificates occurs,
  • accurate records of Base Cost are maintained,
  • Bed & Breakfasting is made easy,
  • Scrip Dividends happen automatically,
  • no more lodging (or losing) small dividend cheques,
  • paperwork is minimised,
  • a statement is issued every year setting out the Capital Gains Tax and Dividend Withholding Tax calculations for your Accountant/Tax Advisor.

To discuss this further, give Aidan a call at 087 2621006.

Aidan Wall Financial Services Ltd Trading as Lifetime Financial Planning is regulated by the Central Bank of Ireland.  Investments can fall as well as rise. Past performance is not a reliable guide to future performance.