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First Year Tax Returns on BTWEA

  • 25-10-2016 04:21PM
    #1
    silverwexford
    Registered Users, Registered Users 2 Posts: 15 ✭


    Hi all,

    I have registered with ROS and have full access to it.

    I started the BTWEA on 16th December 2015.

    I know the first year is tax free - but do I pay PRSI and USC on anything I have earned?

    Also, my accounts are fairly straight forward, is there a need to pay for an accountant at this stage or just go ahead and fill in '0' for the first year?

    Thanks!


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,676 ✭✭✭exaisle


    I'd be inclined to use the services of an accountant for the first year anyhow...but you don't need to do that until sometime next year. Typically your first years accounts would be from 16th December 2015 to 31st December 2016 which would form the basis for your tax returns for 2015 and 2016, both due by 31st October 2017. (Your first return, ie 2015 is NOT due until next October!)

    As far as I know, there is no PRSI or USC payable on BTWEA.


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