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What does this mean? (Income tax question)

  • 03-10-2011 2:09pm
    #1
    Registered Users, Registered Users 2 Posts: 977 ✭✭✭


    I know this thread is very similar to Leonlafrite's thread and I considered putting my question in there. However I am starting a little further back than him and it would not be fair to hijack his thread.

    I'm a PAYE taxpayer but I also own about twelve acres of land. For this reason the Revenue insist that I complete Form 11E (self assessment) every year. There is never any income from the land because I don't farm it, in fact there is usually a small loss because I keep public liability insurance and do some maintenance work on weeds, fences etc.

    This year I sent in my return for 2010 and I got a refund of €460. However, reading through my "notice of assessment" form, after the "balance overpaid" line, there is another line which reads: "Amount for 2011 Preliminary Tax Purposes €135-20"

    What does that mean? Do I have to send them a cheque for that amount before a certain date? If so why did they not just deduct it from my refund which came a few days later? Do I send the cheque to my local tax office or to a particular office such as the Collector General?


Comments

  • Registered Users, Registered Users 2 Posts: 378 ✭✭KCTK


    Afraid so, preliminary tax for 2011 must be paid before 31 October so less than 2 weeks to get this in!!


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