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Previous TAX returns didn't include expenses

  • 16-10-2011 09:12PM
    #1
    Onyourcase
    Closed Accounts Posts: 1 ✭


    A friend's run his own business without using an accountant and as a result has never claimed business expenses on his TAX return. What is the first step to claiming the overpaid TAX back?


Comments

  • #2
    viztopia
    Closed Accounts Posts: 770 ✭✭✭viztopia


    Onyourcase wrote: »
    A friend's run his own business without using an accountant and as a result has never claimed business expenses on his TAX return. What is the first step to claiming the overpaid TAX back?

    First step - get an accountant!


  • #3
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    viztopia wrote: »
    First step - get an accountant!
    Yes, don't balls it up twice


  • #4
    Clogsworth
    Registered Users, Registered Users 2 Posts: 68 ✭✭Clogsworth


    Send in an amended return. The Revenue will only let you go back 4 years though. Send in the amended return with a letter outlining the mistake and the Revenue will amend the return and issue your refund.
    Call to the local tax office either - wait until after 16th November though because they will be flat out at the moment!


  • #5
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    How is the four year rule calculated ? i.e. is it too late to claim for 2006 now or does 2006 count as within 4 years because 2010 returns are currently being filed?


  • #6
    Clogsworth
    Registered Users, Registered Users 2 Posts: 68 ✭✭Clogsworth


    Oops I was wrong, KennyB has correct answer.


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  • #7
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    Bigcheeze wrote: »
    How is the four year rule calculated ? i.e. is it too late to claim for 2006 now or does 2006 count as within 4 years because 2010 returns are currently being filed?
    Clogsworth wrote: »
    Yeah I'm pretty sure its based on 4 years back from 2010 as those are the returns being filed at the moment.

    We are in 2011 now, so you can go back as far as 2007 up until 31 Dec 2011.


  • #8
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    http://www.revenue.ie/en/practitioner/ebrief/archive/2010/no-742010.html

    For completion purposes


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