Ireland Savings Calculator — How Much Could You Save?

Commonly Missed Deductions

• Home office (e-working relief): Revenue allows €3.20 per day for each day you work from home. On top of this, you can claim the actual business proportion of broadband, electricity, and heating costs.
• Business motor expenses: You can claim the business proportion of actual vehicle running costs (fuel, insurance, tax, repairs), or use Revenue’s Civil Service mileage rates (up to 59.07c/km for the first 1,500km). Many sole traders only claim fuel and miss other allowable motoring costs.
• Professional development & training: Courses, exams, professional memberships, books, and subscriptions directly related to your trade or profession are fully deductible against income.
• Phone & broadband: The business proportion of your phone and home broadband can be claimed as an expense. If 50% of your usage is for business, 50% of the cost is deductible.
• Capital allowances on equipment: Business equipment (computers, machinery, furniture) qualifies for capital allowances at 12.5% per annum on a straight-line basis over 8 years, rather than a full deduction in year one.
• Accountancy & professional fees: Fees paid to accountants, tax advisors, solicitors for business matters, and business insurance premiums are all allowable deductions against trading income.

How AI Categorisation Saves You Money

• Industry average missed deductions: Irish self-employed individuals miss an estimated 15–20% of allowable expenses on average, often because of unclear Revenue guidance or lack of organised record-keeping.
• The true cost of missed deductions: Every €1 of unclaimed expense increases your taxable income. At standard rate (20% IT + 4% USC + 4% PRSI), that’s 28c lost for every euro not claimed.
• Higher earners face steeper losses: Income above €42,000 (for a single person) is taxed at the marginal rate: 40% IT + 8% USC + 4% PRSI = 52%. Missed deductions at this rate cost significantly more.
• AI-powered accuracy: AnyDayAnyTax uses two independent AI engines to extract and categorise every transaction from your bank statements, flagging Revenue-approved deductions you might otherwise miss.

Worked Example: Missed Deductions — Irish Sole Trader Earning €60,000

1. Annual income: €60,000 with €14,000 in identified business expenses
2. Industry average missed deductions: 17% of €14,000 = €2,380 in unclaimed expenses
3. Common missed items: €768 e-working relief (€3.20/day × 240 days), €532 motor expenses (900km × 59.07c), €480 professional memberships, €600 capital allowances on laptop (12.5% of €4,800)
4. Tax impact at standard rate (27.1%): €2,380 × 27.1% (20% IT + 3% USC + 4.1% PRSI) = €644.98 overpaid per year
5. Tax impact at marginal rate (47.1%): Income above €44,000: €2,380 × 47.1% (40% IT + 3% USC + 4.1% PRSI) = €1,120.98 overpaid
6. Monthly cost of missed deductions: €1,120.98 ÷ 12 = €93.42/month lost at marginal rate
7. 6-year cumulative cost: €1,120.98 × 6 = €6,725.88 in unnecessary tax over Revenue’s record-keeping period

An Irish sole trader earning €60,000 who misses 17% of allowable expenses overpays Revenue by up to €1,121 every year — or €6,726 over the six-year record retention period. The most commonly overlooked deductions are e-working relief at €3.20/day, Revenue mileage rates, and capital allowances on equipment (12.5% per year over 8 years). AI-powered categorisation identifies these automatically from your bank statements.

Frequently Asked Questions

What expenses can Irish self-employed people claim?

Revenue allows self-employed individuals to deduct expenses that are wholly and exclusively incurred for business purposes. These include: cost of goods sold, business travel and motor expenses, rent and rates for business premises, light and heat (business proportion), repairs and maintenance, wages and salaries, professional fees (accountants, solicitors), bank interest and charges, advertising and marketing costs, and other general business expenses. Capital items are claimed via capital allowances over time rather than in full in year one.

How much could better expense categorisation save me in Ireland?

It depends on your income level. For example: if you earn €60,000 and miss 17% of allowable expenses (€10,200), at the standard rate (28% combined: 20% IT + 4% USC + 4% PRSI) that’s €2,856 in unnecessary tax paid. If you’re in the higher rate band (52%), the same missed deductions would cost €5,304 extra per year. Consistent, AI-assisted categorisation directly reduces what you owe to Revenue.

Do I need receipts for all business expenses in Ireland?

Revenue requires you to retain records for 6 years from the end of the tax year to which they relate. You must be able to substantiate all expenses claimed. However, digital records — including photos of receipts stored in apps — are accepted. The e-working daily allowance (€3.20/day) can be claimed without individual receipts if you keep a record of your remote working days. Simplified mileage rates also avoid the need for fuel receipts.

How does AnyDayAnyTax compare to an accountant in Ireland?

AnyDayAnyTax is a tax preparation and planning tool, not a filing service — it helps you organise and categorise your transactions so your records are accurate and complete before you file your Form 11. A typical Irish accountant charges €400–€600/year for sole trader accounts. AnyDayAnyTax Pro gives you a clear, organised picture of your finances year-round, an AI Tax Assistant to answer your questions, and makes it easier and potentially cheaper to work with an accountant. See our pricing page for current rates.

When is the Form 11 deadline in Ireland?

The key Irish self-assessment deadlines are: 31 October — paper Form 11 filing deadline and Preliminary Tax payment due (90% of current year’s liability or 100% of previous year); 14 November — extended deadline for ROS (Revenue Online Service) online filers; 31 May — balance of tax due for the previous year (where applicable). Preliminary Tax must be paid by 31 October to avoid interest charges, even if you file via ROS.