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Preliminary Tax Calculation

sas · 2012-09-25 16:04:15

Situation as follows: Sole trader with Tax year from Aug 1st 2010 to July 31st 2011. We're being told that our preliminary tax for the next year is 100% of the amount from Jan 1st 2011 to July 31st 2011. This doesn't sound right to me but I'm open to correction. I would have assumed that it should be based on the entire 12…

25-09-2012 4:04pm

#1

sas

Registered Users, Registered Users 2 Posts: 1,282 ✭✭✭

Join Date: September 2004

Posts: 1141

Situation as follows:

Sole trader with Tax year from Aug 1st 2010 to July 31st 2011.

We're being told that our preliminary tax for the next year is 100% of the amount from Jan 1st 2011 to July 31st 2011.

This doesn't sound right to me but I'm open to correction. I would have assumed that it should be based on the entire 12 month period.

Can anyone shed any light on this, it will be hugely appreciated.

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