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Year 2 of business. What tax period is assessed?

Frere Jacques · 2017-08-27 20:24:04

Hi all, My wife's business is in year 2. Her accountant said last year that she could postpone her tax return to this year as she was a start up. She is budgeting to pay last years bill come October and this years bill next October. I'm of the opinion that this year we'll have to pay (1) last years bill and (2) this years…

27-08-2017 8:24pm

#1

Frere Jacques

Registered Users, Registered Users 2 Posts: 206 ✭✭

Join Date: June 2012

Posts: 175

Hi all,

My wife's business is in year 2. Her accountant said last year that she could postpone her tax return to this year as she was a start up. She is budgeting to pay last years bill come October and this years bill next October. I'm of the opinion that this year we'll have to pay (1) last years bill and (2) this years bill so far and also (3) the estimate of the liabilities till year end as she could only defer year 1.
Can anyone clarify this?
I'm going to ask her to ring her accountant about it later in the week but I just want her to be clear that she knows what she needs to talk him about.
Thanks in advance.
FJ.

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