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Preliminary Tax 2019 in April

  • 11-04-2019 5:32pm
    #1
    JMot
    Registered Users, Registered Users 2 Posts: 9 ✭


    I need to file a form 11 on ROS for 2018 income tax, USC and PRSI in order to receive a clearance letter from Revenue. I would like to file and pay the 2018 tax this April, but only file and pay the 2019 preliminary tax in October since at the moment any estimate of the amount of preliminary tax due using the 90% rule would be very difficult to perform so soon in the year and if I use the 100% rule I would overpay tax substantially since I am closing down my business in the summer.


    Question: is there a way to perform on ROS the separate file and pay? In the past I have always filed and pay the two together in October of each year when it is much simpler to estimate the preliminary tax with the 90% rule.


    Thank you


Comments

  • #2
    towger
    Registered Users, Registered Users 2 Posts: 440 ✭✭towger


    JMot wrote: »
    I need to file a form 11 on ROS for 2018 income tax, USC and PRSI in order to receive a clearance letter from Revenue. I would like to file and pay the 2018 tax this April, but only file and pay the 2019 preliminary tax in October since at the moment any estimate of the amount of preliminary tax due using the 90% rule would be very difficult to perform so soon in the year and if I use the 100% rule I would overpay tax substantially since I am closing down my business in the summer.


    Question: is there a way to perform on ROS the separate file and pay? In the past I have always filed and pay the two together in October of each year when it is much simpler to estimate the preliminary tax with the 90% rule.


    Thank you

    Short answer, yes, don’t pay any preliminary tax when doing 2018 early, and then later in the year in ROS you can submit a payment, and within that you then select the tax type, being Income Tax in this case.


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