Despite the spending cuts and tax increases we reported earlier in the week, this week’s budget had some positive news for unemployed tradesmen who are considering setting up their own business.
A tax break has been announced to incentivise a boost to the stagnant construction industry in Ireland. The ‘Start Your Own Business Scheme’ announced will provide a two-year exemption on income tax for people who have been unemployed for 15 months or more and start-up a new unincorporated business. This is in addition to the Home Renovation Initiative (HRI) which will provide an income tax credit of 13.5% for homeowners on home improvement expenditure of between €5,000 and €35,000.
If you are considering setting up your own business providing tradesman services to home owners in Ireland, then Paddy Compare can help you save money on your tradesman insurance. This includes public liability, tool cover and vehicle cover. If you have a van, then separate van insurance can be compared with this simple form. Don’t let insurance hold back your business startup – compare tradesman insurance with Paddy Compare today!