late paying tax

brentaz

Hello,

I did not return my income tax Docs to revenue this year as i was trying to do it online, but left it too late. I know now that i will suffer some sort of penalty.
My question is 06 taxes i returned myself and even after i showed the revenue a zero profit due to my apartment being Sec23 <i have two rental properties> with the profit being subtracted from the value of it............they still charged me 500.00.
In 07 i had an account file my tax return and do up the Docs and again even with my Sec23 write off i was still charged the exact amount of 500.00 euro.
So can anybody tell is there some default figure due regardless of the sec23.

Thanks in advance.

Brendan.

Baby4

This post has been deleted.

mkdon05

Section 23 relief only covers rental profit.
Did you have any other income in those years?

brentaz

Hi,

Thanks for the reply, The only income i have outside of the rental income is my wife and I paye wages.

Thanks,

Brendan.

swanvill

Hi,
The 500e for each year seems a bit strange that it is the same figure for both years, could it be an estimate or is it a fine? It really is difficult to tell what seeing the actual assessment

Even though you have section 23 relief, you could might have had it restricted as a result of your late return. A quick way to check might be ring Revenue and asking them why. They cannot increase the payment for asking the question and if they say you owe 500e, then that (plus late payment interest) is what you owe.

PM me if you wish my help further.

mkdon05

Sorry I forgot that, Swanville is spot on,
Section 23 relief is restricted when returns are late. More than likely this is the problem.