Statement of Net Liabilities (Pay And File)

Yurple

Hi everybody.. appreciate any advice or help:

I finally have access to ROS after waiting 1 week for an access number by post and then an additional week of waiting for a password by post... no idea why they do these things by post .. but I have access now.

I have completed my return for 2013 correctly and revenue assessment in column A said I owe 0 tax. I am self employed and 2013 was the year I basically made nothing. This year 2014 I made more but still not a huge amount.

I am on the page Statement of Net Liabilities (Pay And File) - Step 2: Payment details.

It now tells me:


Please enter whole liability amounts: (enter "0" if nil liability)

Income Tax Preliminary Tax 2014
and
Income Tax Balancing Amount 2013


Total amount:

and Please indicate if you wish to file a Return with Statement of Net Liabilities only without making a payment


The 2013 boxes already have 0 in them and the total also has 0 in them. Should I just continue ?

---

I am stuck. I do not know what to do next? To have the extended deadline of 13th of November (today) it says that I need to file returns last year and also pay preliminary tax of 2014? How do I know how much to pay?


Thanks!

barneystinson

Yurple wrote: »

Hi everybody.. appreciate any advice or help:

I finally have access to ROS after waiting 1 week for an access number by post and then an additional week of waiting for a password by post... no idea why they do these things by post .. but I have access now.

They do it by post for security purposes. Wouldn't be too pleased if you had your identity stolen and someone claimed tax refunds in your name, would you?

Hardly their fault you left it to the very last minute to register and file.

Yurple

barneystinson wrote: »

They do it by post for security purposes. Wouldn't be too pleased if you had your identity stolen and someone claimed tax refunds in your name, would you?

Hardly their fault you left it to the very last minute to register and file.

I wasn't criticising them on it? And I would feel much more secure if it was by email. Anybody can open the postbox and steal letters. This is not the point or the question.

I have never filed a return or wanted to file a return. I hired an accountant through Adverts.ie last year and everything was fine. Then on the 30th of last month I called and emailed him to verify that everything is OK. No response.

The accountant is either gone or bankrupt or something else... I then immediately did research and registered on Ros.ie.

If possible, please help me out what to fill in for preliminary tax of 2014? Is that suppose to be 90% of the tax amount due of 2013?

marizpan

The 2014 prelim is an estimate of tax due, as a significant under declaration can incur interest etc.
So if 2013 income tax was nil, you make an estimate on what you think 2014 will be.

Yurple

marizpan wrote: »

The 2014 prelim is an estimate of tax due, as a significant under declaration can incur interest etc.
So if 2013 income tax was nil, you make an estimate on what you think 2014 will be.

Thank you ! So to confirm the prelim 2014 is NOT 90% of 2013?

This prelim is an amount I pay now for the taxes due next year?

I have to work out now roughly how much tax will be due ?

Marz66

See the Preliminary Tax section at this link to Revenue website

http://www.revenue.ie/en/tax/it/leaflets/it10.html#section4

marizpan

It is an estimate.
90% of 2013 nil return is nil.
Do you have loses for 2013 to carry forward ?
Your 2013 loses can go against 2014 gains.
Do you think you will have much profit for 2014?

Yurple

Thank you!

I have entered the prelim tax i think after working it out and 0 for 2013, then i signed and submitted.

After that they asked me to make payment immediately so i used banking 365 with their details. I hope they get it.