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Can I pay Tax due on Rental income over 12 months?

  • 26-07-2013 1:26pm
    #1
    blass
    Registered Users, Registered Users 2 Posts: 118 ✭✭


    If you owe tax on rental income received , do revenue offer the facility to pay it in 12 equal installments or any such thing?


Comments

  • #2
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    you can have your tax credits reduced during the following year to cover cover the underpayment.

    Interestingly though, for me, they don't take it all in one year, they split it in two over two years - don't know why though as the underpayment on a weekly basis, could have been covered in one year via tax credit reductions.

    Next year, I'll probably have 3 years of money owed to them, and so on...


  • #3
    Paddy001
    Registered Users, Registered Users 2 Posts: 724 ✭✭✭Paddy001


    blass wrote: »
    If you owe tax on rental income received , do revenue offer the facility to pay it in 12 equal installments or any such thing?

    They do, you can set-up a direct debit to make a monthly payment or reduce tax credits. I really don't know why you would want to pay them money before you have to though when you could be putting it to good use!


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