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Income Tax - I've been asked to help someone file their returns

  • 28-10-2014 1:16pm
    #1
    AtticusFinch86
    Registered Users, Registered Users 2 Posts: 358 ✭✭


    Hey guys,

    As the title suggest, I was recently messaged (last night) on LinkedIn by the owner of a local small business (she is a sole trader and is registered with revenue) to help her with her tax returns. She has told me she has all the calculations done (she has made a loss for the year) but doesn't know how to go about filing the returns so she needs help with that.

    I'd like to help her because it would be a great learning experience for me and something I could throw on the CV. My question is, could I realistically be of any use to her i.e. is it a simple and quick process given the fact that she has the calculations done? and could I be held accountable in the event that her calculations are incorrect?

    It should be mentioned that I have no experience at all filing a tax return. I work 9-5 as a trainee accountant so I'd be looking to do the work for her sometime after 5pm. Am I being naive to think I could be of use?

    Any help/advice is appreciated.


Comments

  • #2
    premier10
    Registered Users, Registered Users 2 Posts: 320 ✭✭premier10


    No disrespect but, if you have no experiences of completing a tax return, how are you going to help her?

    I think you answered your own question.


  • #3
    AtticusFinch86
    Registered Users, Registered Users 2 Posts: 358 ✭✭AtticusFinch86


    I hear what you're saying but from the little research I've done, filing tax returns for a small business owner is not rocket science. My main concern was the time factor. Anyway, I've decided against it as I haven't the time to do it.


  • #4
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,627 ✭✭✭✭Marcusm


    AtticusFinch86 wrote: »
    I hear what you're saying but from the little research I've done, filing tax returns for a small business owner is not rocket science. My main concern was the time factor. Anyway, I've decided against it as I haven't the time to do it.

    The thing that worries me most is that you think you'll just be taking her "numbers" and inserting them into a form.


  • #5
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    AtticusFinch86 wrote: »
    I hear what you're saying but from the little research I've done, filing tax returns for a small business owner is not rocket science. My main concern was the time factor. Anyway, I've decided against it as I haven't the time to do it.

    A wise choice.

    As a trainee accountant you are not authorised to provide income tax advise to the public. Its not really worth the possible implications for you if you get it wrong and they report you to your institute as a result.

    Best of luck

    dbran


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