Form 11 - Prelim Tax - Where do I add this on the form?

StephenS147

I've asked via ROS what I do for paying prelim tax for this year.

Here's the response I got from ROS.

Dear Sir,

Preliminary Tax is calculated on either:

· 100% of your previous year’s liability, or
· 90% of your current year liability, or
· 105% of your pre-preceding year’s liability.

As estimating the current year’s liability can be both time-consuming and costly the majority of people opt to pay 100% of the previous year’s liability.

When completing your statement of net liabilities on your Form 11 2019 please input Income Tax Preliminary 2020 in the box provided. Information on Pay & File and Preliminary Tax can be found on the Revenue website www.revenue.ie

Now, I've looked throughout form 11 and cannot see anything. I haven't heard back from ROS so I thought I'd ask here.

This wasn't any help which has a section on how to pay it but doesn't really say what to do on form 11. https://www.revenue.ie/en/self-assessment-and-self-employment/guide-to-self-assessment/what-is-preliminary-tax.aspx

Stratvs

The statement of liabilities is not actually within the form 11. It’s when you go to upload the Form 11 the statement of liabilities page comes up after you select “process return” Then after selecting the appropriate amounts for balance 2019 and prelim 2020 you go to the payment screen.

There are also provisions for covid19 affected businesses in relation to prelim 2020
https://www.revenue.ie/en/corporate/communications/covid19/filing-and-paying.aspx

StephenS147

Oh, I see that now once I get to the sign and submit section. Thanks.\

Quick semi-related question:
I've filled in the self-assessment section and it's showing me this. The wording in red is kind of confusing.



How can I have paid prelim tax when I haven't the form filled out yet? If I haven't paid anything then I just fill in that amount?

I have paid prelim tax for this year last year (2018) so do I just deduct that from the liability from the value in column A?

scheister

StephenS147 wrote: »

Oh, I see that now once I get to the sign and submit section. Thanks.\

Quick semi-related question:
I've filled in the self-assessment section and it's showing me this. The wording in red is kind of confusing.



How can I have paid prelim tax when I haven't the form filled out yet? If I haven't paid anything then I just fill in that amount?

I have paid prelim tax for this year last year (2018) so do I just deduct that from the liability from the value in column A?

that section of the self assessment is for any preliminary tax you paid for 2019 not the preliminary tax you will be paying for 2020

StephenS147

scheister wrote: »

that section of the self-assessment is for any preliminary tax you paid for 2019 not the preliminary tax you will be paying for 2020

I know that I was asking a follow-up question.

Stratvs

StephenS147 wrote: »

Oh, I see that now once I get to the sign and submit section. Thanks.\

Quick semi-related question:
I've filled in the self-assessment section and it's showing me this. The wording in red is kind of confusing.



How can I have paid prelim tax when I haven't the form filled out yet? If I haven't paid anything then I just fill in that amount?

I have paid prelim tax for this year last year (2018) so do I just deduct that from the liability from the value in column A?

Assuming you are filing since before 2019 then your prelim tax paid in 2019 for 2019 goes in there and any balance +/- results and flows to the statement of liabilities to be added to or deducted from whatever PT for 2020 you are paying.

StephenS147

Stratvs wrote: »

Assuming you are filing since before 2019 then your prelim tax paid in 2019 for 2019 goes in there and any balance +/- results and flows to the statement of liabilities to be added to or deducted from whatever PT for 2020 you are paying.

Thanks. So I other words. Let's say as an example. If in 2018 I paid prelim liability of 3,000 eur and this year's liability is actually 2,500. I can put in a negative figure here to get monies back? Obviously if that figure of 2,500 is higher than 3,000 paid in 2018 then this is the difference?

----

Then in the prelim for 2020 this can be the usual option of:
· 100% of your previous year’s liability, or
· 90% of your current year liability, or
· 105% of your pre-preceding year’s liability

But I may get some professional advice regarding the covid19 prelim tax you have linked to earlier.

Stratvs

StephenS147 wrote: »

Thanks. So I other words. Let's say as an example. If in 2018 I paid prelim liability of 3,000 eur and this year's liability is actually 2,500. I can put in a negative figure here to get monies back? Obviously if that figure of 2,500 is higher than 3,000 paid in 2018 then this is the difference?

----

Then in the prelim for 2020 this can be the usual option of:
· 100% of your previous year’s liability, or
· 90% of your current year liability, or
· 105% of your pre-preceding year’s liability

But I may get some professional advice regarding the covid19 prelim tax you have linked to earlier.

You keep saying paid in 2018? 2019 PT would have been paid in 2019. If you paid
€3,000 PT for 2019 and the ultimate liability for 2019 is €2,500 then the €500 overpayment in 2019 can be deducted from the appropriate amount to be paid for 2020. If you are paying 100% of 2019 as your PT for 2020 then that amount is €2,500. You can use the €500 overpaid from 2019 as part of that leaving you with €2,000 to actually pay.

StephenS147

Ah, fully understand now. I just have to work out what's paid already and deduct that from this year's and if there's any left over it can be deducted again from my 2020 prelim.

I did pay my 2019 prelim tax for this year in 2018. I paid it along with my liability for 2018.

Is this not correct? The same as me paying 2020s' now.

Stratvs

StephenS147 wrote: »

Ah, fully understand now. I just have to work out what's paid already and deduct that from this year's and if there's any left over it can be deducted again from my 2020 prelim.

I did pay my 2019 prelim tax for this year in 2018. I paid it along with my liability for 2018.

Is this not correct? The same as me paying 2020s' now.

You would not have paid PT for 2019 in 2018. You may have paid PT for 2019 when filing the 2018 tax return in 2019. But the payment would have been in the calendar year 2019.

StephenS147

Stratvs wrote: »

You would not have paid PT for 2019 in 2018. You may have paid PT for 2019 when filing the 2018 tax return in 2019. But the payment would have been in the calendar year 2019.

I settled it all in one go back then. It was one less thing to worry about