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Prelim tax doesn't reflect ...

eladnova · 2015-10-16 07:37:15

Got my tax returns back from my Accountant this week. Based on higher than average 2014 income, my prelim for 2015 is quite high. I have a little more to pay for 2014 too. I know for a fact that my 2015 earnings will be about 2/3 of 2014 and so my prelim is overestimated. is it possible to mention this to Revenue and lower…

16-10-2015 7:37am

#1

eladnova

Registered Users, Registered Users 2 Posts: 116 ✭✭

Join Date: May 2010

Posts: 83

Got my tax returns back from my Accountant this week.
Based on higher than average 2014 income, my prelim for 2015 is quite high. I have a little more to pay for 2014 too.

I know for a fact that my 2015 earnings will be about 2/3 of 2014 and so my prelim is overestimated.

is it possible to mention this to Revenue and lower my 2015 prelim?

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Comments

#2 16-10-2015 8:49am

Immy

Registered Users, Registered Users 2 Posts: 260 ✭✭

Join Date: October 2013

Posts: 252

Prel tax is based on an estimate which can be 100% of 2014 or 90% of expected 2014 liability.

So ring your accountant and have a chat about 2015 figures and tell him they are lower.

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