It’s that time of year when people have to start thinking about their Irish tax return.
The self-assessed tax return on 31st October is fast approaching. However, many people are still uncertain if they’re obliged to file a tax return or not. Our experience is that if you’re not sure then you should check. We can let you know whether or not you have an obligation to file.
So how do you know if you have to file a self-assessed tax return? Well, put simply, if you are self-employed or have any income other than PAYE income you have to declare this on an annual tax return. This includes the following:
- Rental income
- Airbnb income
- Investment income
- Foreign income or pension.
You also have to file a tax return if you're the director of a company. The self-assessed tax return is lodged the year following the year of assessment, for example, the forthcoming deadline is for the 2014 tax year.
Charges for late filing
So what happens if you don’t file on time? Revenue will add a surcharge to your tax bill and this is increased after 2 months so it’s worth getting it in on time rather than paying out dead money on fines.We know that a lot of self-employed people can’t afford to pay expensive accountancy fees which is why we started our self-assessed tax return service. It starts at just €239 for a tax return and we’ll provide you with a quote at the beginning so you know exactly how much you have to pay.
Anyone who signs up will get their own dedicated Account Manager who will be on hand to answer any questions during the process. Talk to us about your tax return today and we’ll have your tax affairs sorted out in no time!
We take the hassle out of filing your Irish tax return