Will I be penalised or worse? Need advice

Anon_Person

Mods, Please dont sticky this question as I dont know who else to ask and hope someone can tell me where to start.

Im looking for advise on how the self-employed ROS system works as I can't make head nor tail of it. I also am afraid I have dropped the ball in recent years and may be in trouble.



1. I Have been either working freelance or on the dole for the past 5 years or so. Have always been honest with the dole about casual work etc. so thats not the issue. Have only had a couple of short jobs in that time period that were PAYE.

2. However, I have never registered as self employed with revenue.

3. Never earned that much eg roughly 15k a year from freelance work. Not trying to minimise the issue, just want to give the facts here.

4. I want to start filing tax returns but am very worried that if I only register as self employed now, that Revenue will ask questions about the previous years. This has been the main reason I havent registered before now, a fear that I am 'too deep' in it .That drawing attention to myself by registering will get me in more trouble than not paying the amount of tax I owe.

5. In the past I figured that working on a freelance basis was temporary and I would soon find a job where I was 'back on the system'.But I need to address it now as I am unable to find full time/PAYE work- every company in my industry is only employing on a freelance basis these days.

6. I have set aside enough to pay taxes this year for 2016, have kept receipts all year and will get an accountant etc. But I fear its not as straight forward as just registering now and paying tax for only 2016 onwards.



Can anybody advise me? Its really stressing me out that Ill have to leave the country or go to jail. Maybe this is out of ignorance of how the system works, but I am afraid to even confess this to an accountant in case they dob me in to the revenue. I dont know what to do and am at the end of my tether.

When you register as self employed, surely they ask you when you first started working as self employed? If I put 2012/2013 surely Ill be in big trouble?

Im afraid to confess this to anyone so any advise on the first steps I should take? many thanks

relax carry on

Anon_Person wrote: »

Mods, Please dont sticky this question as I dont know who else to ask and hope someone can tell me where to start.

Im looking for advise on how the self-employed ROS system works as I can't make head nor tail of it. I also am afraid I have dropped the ball in recent years and may be in trouble.



1. I Have been either working freelance or on the dole for the past 5 years or so. Have always been honest with the dole about casual work etc. so thats not the issue. Have only had a couple of short jobs in that time period that were PAYE.

2. However, I have never registered as self employed with revenue.

3. Never earned that much eg roughly 15k a year from freelance work. Not trying to minimise the issue, just want to give the facts here.

4. I want to start filing tax returns but am very worried that if I only register as self employed now, that Revenue will ask questions about the previous years. This has been the main reason I havent registered before now, a fear that I am 'too deep' in it .That drawing attention to myself by registering will get me in more trouble than not paying the amount of tax I owe.

5. In the past I figured that working on a freelance basis was temporary and I would soon find a job where I was 'back on the system'.But I need to address it now as I am unable to find full time/PAYE work- every company in my industry is only employing on a freelance basis these days.

6. I have set aside enough to pay taxes this year for 2016, have kept receipts all year and will get an accountant etc. But I fear its not as straight forward as just registering now and paying tax for only 2016 onwards.



Can anybody advise me? Its really stressing me out that Ill have to leave the country or go to jail. Maybe this is out of ignorance of how the system works, but I am afraid to even confess this to an accountant in case they dob me in to the revenue. I dont know what to do and am at the end of my tether.

When you register as self employed, surely they ask you when you first started working as self employed? If I put 2012/2013 surely Ill be in big trouble?

Im afraid to confess this to anyone so any advise on the first steps I should take? many thanks

At this stage, it's time for an accountant. You aren't registered for IT and haven't filled returns. You will be liable to a 10% late filing charge per return submitted late and interest on the income tax you were due to pay on your taxable profit. If there is an issue with payment you may be able to arrange a payment plan with Revenue.

But if it's stressing you out, now is the time to deal with it via a professional.

ThumbTaxed

Get used to jail

Kalimah

One of my neighbours was done for non payment of VAT on her business and another on Capital Gains I think. The sums involved were 35k and 58k I think. Neither went to jail. You absolutely will not go to jail for the amounts you're talking about. I would contact your local tax office asap and tell them what you told us. Presumably you have kept records of what monies you received in the last 5 years?
I'd say you'll be faced with a complete audit for the last 5 years and presented with a bill after that. They will be reasonable with a payment plan. A relative of mine is in a reasonably high position in Revenue and says they have no difficulty with anyone who cooperates. It's the fraudsters and downright messers they go after.
I don't think you're one of those.
Sort it on Monday. You'll feel a whole lot better.

thegolfer

Speak to an accountant now.

Request that you make an "unprompted qualifying disclosure" to Revenue.

The benefit of this being, non-publication, reduced penalties, and no follow up with a view to prosecution.

Get all your details together, bank statements, receipts everything to allow your accountant to prepare accounts for the prior periods.

Your accountant will prepare income and expenditure account, compute the tax liability, interest, and penalty which can be discussed with Revenue.

Payment can be once off sum or a phased payment agreement over a number of months.

If this is done correctly, Revenue will most likely accept the disclosure, and payment, meet with you once, assuming no further queries close the case.

Just keep your nose clean going forward.

You'll get one chance only to rectify this.

Anon_Person

Thanks to everyone for this sound advice. Im going to get this sorted out. Much appreciated.