Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Business Closed

  • 05-09-2012 9:49am
    #1
    Spike78
    Registered Users, Registered Users 2 Posts: 25 ✭


    Hi All,

    Firstly I know nothing about taxation so thats why I'm here.
    My friends who are married had a business that they sold 10 years ago and since then they have had to submit a tax return, according to their accountant, costing €340 each year, they have now submitted 9 since they sold. They retired early and are not of state pension age yet; he receives a small pension and disability allowance which combined are below the tax threshold, she has no income.

    2 Questions
    1. How long must they keep the documentation, books, receipts etc that related to the business in case the Revenue Inspectors want to conduct an inspection.
    2. How long must they continue to make a tax return costing €340.

    These may be elementary questions but I havent a clue.
    Thanks in advance.


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Spike78 wrote: »
    Hi All,

    Firstly I know nothing about taxation so thats why I'm here.
    My friends who are married had a business that they sold 10 years ago and since then they have had to submit a tax return, according to their accountant, costing €340 each year, they have now submitted 9 since they sold. They retired early and are not of state pension age yet; he receives a small pension and disability allowance which combined are below the tax threshold, she has no income.

    2 Questions
    1. How long must they keep the documentation, books, receipts etc that related to the business in case the Revenue Inspectors want to conduct an inspection.
    2. How long must they continue to make a tax return costing €340.

    These may be elementary questions but I havent a clue.
    Thanks in advance.

    Question 1 is 6 years.
    Question 2. Call Revenue and ask why returns are still being sent to them. It might not have anything to do with the old business. They may be sent in error.


Advertisement