bi monthly return

dub biz

Hi All

I registered as a sole trader and started trading in December. My accountant put me on a bi monthly return. Is it possible to change that to a yearly return or can you pay revenue a fixed amount by direct debt each month and then the balance at year end?

All advice appreciated

dbran

Hi

Yes it is possible. You need to complete a form CG7.

Do a search for it on www.revenue.ie

Kind Regards

dbran

dub biz

Hi dbran

Thanks for you reply.
The cg7 form, can you use that to change from a bi monthly to a yearly return or is it just for setting up a monthly direct debit?

dbran

If you go on direct debit you must also go on an annul return basis

dub biz

Is there a minimum you can pay by DD to revenue? Let’s say I owe revenue €1000 per month, what is the lowest amount I can give them by DD per month

dbran

Hi

Your total dd,s must be at least 90% of the final liability once your annual return is submitted or interest will be charged.

Kind Regards

dbran