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Revenue newbie, help!

  • 01-04-2015 12:01am
    #1
    needhelp2015
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hello,

    I got a letter today from Revenue chasing me for not paying preliminary tax for 2014. However I was told that there was an exemption for that for the first two years, so I am super confused and now questioning everything I thought I knew.

    I set up in October 2013, sent in my info for 2013 last August, was assessed as owing nothing and I thought that was that until next August, when I would sort out 2014.

    Apparently not.

    It's a tiny craft business and I just about break even in a good month, so what kind of penalty am I looking at? I don't think I'm going to be able to sleep until I get this sorted, so any advice or similar stories would be greatly appreciated.

    Cheers!


Comments

  • #2
    wandererz
    Registered Users, Registered Users 2 Posts: 2,789 ✭✭✭wandererz


    Same here. Came home to find the same letter in the post.
    I can't be bothered right now.
    It's simply ridiculous, was left with just 1500 this month after tax. That doesn't even pay my bills.

    I'm all paid up for last year as I don't even have a business any longer, so they can just go suck eggs.

    Last year I got a letter from them saying my assessed tax bill was 55K. I almost choked.
    Called them up to find that some idiot input the wrong figure.

    Don't stress it.
    Have an enjoyable easter weekend and deal with it afterwards.


  • #3
    Sunny Dayz
    Registered Users, Registered Users 2 Posts: 5,517 ✭✭✭Sunny Dayz


    We got one of those letters in relation to a client, the funny thing is he still hasn't given us his 2013 records yet for his return!


  • #4
    SRASE
    Registered Users, Registered Users 2 Posts: 86 ✭✭SRASE


    This is a standard letter that Revenue appears to have sent out in last few days to all taxpayers who filed an income tax return in 2013 and has not paid preliminary tax.

    It does not mean you owe anything. If you had no tax liability in 2013 then you do not owe any preliminary tax for 2014. You can put in zero in the payslip part of the letter they sent to you and send back to them.


  • #5
    needhelp2015
    Registered Users, Registered Users 2 Posts: 2 ✭needhelp2015


    Phew, that's a heck of a relief! Thank you all for your replies! I think I'm going to add "checkup by accountant" to my to-do list for the summer just to be safe, never want to spend a night like that again... let's just say The Fear was upon me. x)

    Anyway, thanks and may karma reward y'all. :)


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