Mortgage Broker & Financial Adviser

Solid foundations for your tax as a regulated financial professional in Ireland.

Allowable Expenses

• Central Bank Fees & Compliance — Central Bank of Ireland regulatory levies and compliance consultancy costs.
• Professional Indemnity Insurance — Required by the Central Bank for regulated mortgage and financial advisory firms.
• QFA / CIP Fees — Qualified Financial Adviser or Certified Insurance Practitioner qualification and CPD costs.
• Sourcing Software — Mortgage sourcing platforms, CRM systems, and financial planning software.
• Network / Compliance Fees — Fees paid to a network or appointed representative structure if operating as an AR.
• Travel to Clients — Mileage at Revenue's approved rate to meet clients at their homes or offices.

Tax Tips

• Procuration fees received from lenders are trading income — declare them in the year received.
• Central Bank regulatory levies are an allowable business cost — include them on Form 11.
• QFA annual CPD and renewal costs are deductible professional development expenses.
• Revenue's ROS system is the recommended way to file Form 11 and pay Preliminary Tax as a regulated professional.

Frequently Asked Questions

Is procuration fee income taxable when received in Ireland?

Yes. Proc fees and trail commission received from lenders are taxable self-employment income in the year received. Declare all commission income on your Form 11.

Are Central Bank regulatory fees deductible?

Yes. Central Bank of Ireland regulatory fees, application costs, and compliance expenditure are deductible as regulatory costs of operating a regulated financial business.

What professional qualifications are required and are they deductible?

The QFA (Qualified Financial Adviser) or Certified Financial Planner qualification is typically required for regulated mortgage advice. Examination fees and annual CPD costs are fully deductible as professional development expenses.

Can I use PRSA pension contributions to reduce income tax as a mortgage broker?

Yes. Contributions to a PRSA, personal pension, or RAC are tax-deductible at your marginal rate (up to 40%). Given the higher incomes typical in financial advice, maximising pension contributions is one of the most effective tax planning strategies available to regulated advisers.