Error on tax return

whatnext

I made a howler on my tax return for 2011.

I left out a massive expense on a rental property and therefore over paid my tax.

Does anyone know if there is a procedure for rectifying this? I'm sure I can't be the first idiot to do this.
I can easily carry the expense over to this year if that would be allowed (my preferred option).
I could get an accountant to sort it which would probably cost half the money I over paid.
or option c, I missed the boat... tough luck, let is go.......

capefear

whatnext wrote: »

I made a howler on my tax return for 2011.

I left out a massive expense on a rental property and therefore over paid my tax.

Does anyone know if there is a procedure for rectifying this? I'm sure I can't be the first idiot to do this.
I can easily carry the expense over to this year if that would be allowed (my preferred option).
I could get an accountant to sort it which would probably cost half the money I over paid.
or option c, I missed the boat... tough luck, let is go.......

Who filed your tax return? Can you not get them to submit the amended form 11

You can submit an amended tax return for 2011 with ros.ie

Citizenpain

just ask your accountant to resubmit with the the correct rental profit- I'd be surprised if he charged you - its a 30 minute job

whatnext

My accountant emigrated, and I've not been able to contact him.
No issues between us, he has just moved on I suppose, email address and mobile no longer active.
Is there an issue with carrying the expense over would you think?

Might just ring the revenue and ask them. (even though I'm squeaky clean, I'm still afraid of them)

Itchianus

whatnext wrote: »

My accountant emigrated, and I've not been able to contact him.
No issues between us, he has just moved on I suppose, email address and mobile no longer active.
Is there an issue with carrying the expense over would you think?

Might just ring the revenue and ask them. (even though I'm squeaky clean, I'm still afraid of them)

Yes there is an issue with carrying the expense over!! Then you'll have 2 incorrect tax returns instead of one!

Your choices are:
1. Pay someone competent to fix your return
2. Do it yourself, in conjunction with your tax office if you don't know how to do it yourself. Just be aware that they're under no obligation to do it for you, as it's self assessment, and they're also under no obligation to ensure your liability is minimised.

Alan Shore

What is the nature of the missing expense? I'm guessing it's repairs of some kind.

whatnext

Alan Shore wrote: »

What is the nature of the missing expense? I'm guessing it's repairs of some kind.

Just a new heating system.........

Itchianus

whatnext wrote: »

Just a new heating system.........

Uh oh!! That's not an expense! It's a capital addition, on which you can claim wear & tear allowance over 8 years. In other words an expense equal to 1/8 of the cost for 8 years.