taxback.ie irishtaxrebates.ie

GT_TDI_150

Guys,

No idea where this actually belongs ... MODS, feel free to move

Could someone explain what these companies do(I understand they do some work to try get you a tax refund, and take a cut before giving you your share) , and is it(the interaction with tax office) something that I ( or anyone) should be able to do for themselves?

Thanks

delahuntv

we used Irishtaxrebates.ie about 2 years ago - got a refund of almost 3k between myself and herself.

Yeah, i could have done it, but they made sure we claimed everything we were entitled to and did all the form filling etc.

If it was left to me, I would have just left it on the long finger.

What we liked about them was the efficency - a form, a phone call and about 8 weeks later we had 2 nice cheques from revenue in the letterbox.

If i remember correctly they took about 7% as a fee.

raclle

There's so many of these threads...i decided to use this one as it relates more to my query.

Where is the best place to claim back tax or should i do it myself?

Places like taxback.com say they will make sure you are been taxed correctly as in if you claim back through P21 yourself the revenue could give you the wrong amount due to being taxed incorrectly.

Is this true?

Fann Linn

raclle wrote: »

There's so many of these threads...i decided to use this one as it relates more to my query.

Where is the best place to claim back tax or should i do it myself?

Places like taxback.com say they will make sure you are been taxed correctly as in if you claim back through P21 yourself the revenue could give you the wrong amount due to being taxed incorrectly.

Is this true?

Set up your 'MyAccount' on Revenue.ie and do it yourself. Couldn't be simpler.

raclle

Fann Linn wrote: »

Set up your 'MyAccount' on Revenue.ie and do it yourself. Couldn't be simpler.

Thanks! Have it set up and requested P21 for end of year 2015 but it doesn't allow for 2016, 2017 and 2018. Do i have to wait for 2015 to be completed before applying for other years as it doesnt give the option to select all years?

shoutman

Sorry for bringing up and old thread, but is applying for a P21 basically all that these taxback crowds do?

I got onto revenue to amend my status as they had not updated the fact that I was looking to be jointly assessed instead of as a single person.

The resulting amended P21 that was issued has me owing €500 quid in tax.
Myself and the wife are splitting the tax credits evenly so I had thought it would not have made a difference being assessed jointly.

Anyone care to shed some light on what I might be missing?

Stratvs

shoutman wrote: »

Sorry for bringing up and old thread, but is applying for a P21 basically all that these taxback crowds do?

I got onto revenue to amend my status as they had not updated the fact that I was looking to be jointly assessed instead of as a single person.

The resulting amended P21 that was issued has me owing €500 quid in tax.
Myself and the wife are splitting the tax credits evenly so I had thought it would not have made a difference being assessed jointly.

Anyone care to shed some light on what I might be missing?

Owing tax in this situation usually comes from :-
- an allowance/relief/deduction claimed initially on tax credits which was not ultimately due on year end review.
- an income such as DEASP which should have been coded into tax credits but either wasn't or was insufficiently coded in.

Look at tax credit certs that were used for the year and the balancing statement and see if there's something one one not on the other.

shoutman

Thanks for the response,

Would DEASP be my wife's "income" derived from her maternity benefit?

Maternity benefit of €5,280 is included under income on our now jointly assesed P21 - is this incorrect? - she is a teacher if that makes any difference.

Stratvs

shoutman wrote: »

Thanks for the response,

Would DEASP be my wife's "income" derived from her maternity benefit?

Maternity benefit of €5,280 is included under income on our now jointly assesed P21 - is this incorrect? - she is a teacher if that makes any difference.

Mat Benefit is taxable, if it wasn't coded in at the time on her tax credit cert ( a new cert should have issued with DEASP income on and Week1/Month1 basis probably ) then she'd owe tax on it as part of total income.

shoutman

And can this be done after the fact or am I bunched?

Stratvs

shoutman wrote: »

And can this be done after the fact or am I bunched?

Up to 31/12/18 coding of some DEASP income to PAYE was sometimes hit and miss. Short term payments such as Jobseekers often didn't get coded in and would have been picked up on y.end reviews. Payments such as Mat Ben and Illness Ben were normally picked up by Revenue and coded in fairly quickly but could still be missed. The standard line is the taxpayer should tell them if something should be coded in. They'd then issue a new cert to the employer so that unused tax credits during the absence (if any) were set against that income, otherwise the employer might have given tax back when the employee returned to work and some or all of that wouldn't have been due to them because of the DEASP income. Then you end up with an underpayment.

From 01/01/19 with PAYE Modernisation DEASP and Revenue are more closely linked and new Revenue Payroll Notifications should issue promptly so as to avoid the type of situation you have here.

Basically, if there was a taxable source of income in the year which was not picked up for whatever reason and coded in to collect the tax via PAYE then tax is due on it.

If there is a PAYE underpayment, Revenue will usually collect that from future earnings. So they may collect it in 2019 or even sometimes over 2 years. They rarely ask for it in full.

shoutman

Thanks for all the input, so essentially looks like my wife underpaid tax, and now that we are jointly assessed we are jointly being hit to repay it?

From a logic standpoint I still don't quite understand how it happened that she underpaid, given that she is a public sector worker, but I've submitted the form12 there, so mneh.

Stratvs

shoutman wrote: »

From a logic standpoint I still don't quite understand how it happened that she underpaid, given that she is a public sector worker, but I've submitted the form12 there, so mneh.

Her status as public sector is irrelevant. The employer whether public or private sector has nothing to do with how your tax credits are calculated. DEASP income is taxable whether you're a public or private sector employee or self-employed & if it wasn't coded in to collect any tax that may have been due on it then unfortunately it's owed.

Going forward it's good policy to check tax credit certs anytime there is a change in work situation or income. While the system should be better since 01/01/19 with PAYE Modernisation don't just assume things are ok. Also everyone should have a MyAccount set up with Revenue. That way you can now keep track of earnings and tax during the year as they are reported.