2020 Tax return/Form 11

Yorky

Is it possible for PUP recipients to submit the 2020 tax return yet?

Will Revenue have up to date details of payments received and how they're going to be treated for PRSI and USC purposes?

Thanks

gudede

Technically, you can file your Form 11. But, I would hold off awhile.

Revenue will issue you with a statement estimating your tax liabilities (if any) later this month.

Yorky

gudede wrote: »

Technically, you can file your Form 11. But, I would hold off awhile.

Revenue will issue you with a statement estimating your tax liabilities (if any) later this month.

Thank you.

Is the estimate based upon the amount of PUP received?

My self-employed income is variable so I can't see what they would base the estimate on without knowing other income details ?

gudede

I’m guessing your statement won’t calculate the tax liability. You should still receive a statement to confirm the total pup received.

On the plus side, you can claim the PAYE tax credit instead of the Earned tax credit. Helps to save a couple of pound.

mea_k

I filed for that yesterday. And my TWSS was on it no pup but I was too far gone to cancel at that stage. We will see how that goes. I'm sure they will suspend that on their side anyway because pup wasn't on it at all.

Anyway. Will update shortly

natc

I completed mine at the weekend. My husband was on PUP for a brief period last year so I declared that income under additional income - from what I remember PUP was an option on it. It wasn’t already filled so DEASP hadn’t sent over his record. I knew the amount so should still work out the same anyway

mea_k

Just an update, I seen some news article revenue will start contacting people on 15th about paying tax owed.

So I don't think my statement of liability will actually be processed untill then
By now I should have had answer.
So if anyone is expecting one, I'd say ull be waiting at least untill 15th.

angela1711

Just out of curiosity and This may be off topic but generally what happens if you don’t submit your statement of liability I remember a few years ago when I or my friends were in college and all had part time jobs we knew nothing about taxes and none of us ever submitted any statements. If you owe them money will they still contact you ? I never in my my life got a letter from the revenue so idk was it because I never actually owed anything v

gudede

angela1711 wrote: »

Just out of curiosity and This may be off topic but generally what happens if you don’t submit your statement of liability I remember a few years ago when I or my friends were in college and all had part time jobs we knew nothing about taxes and none of us ever submitted any statements. If you owe them money will they still contact you ? I never in my my life got a letter from the revenue so idk was it because I never actually owed anything v

Hi Angela,

In a normal year, Revenue do nothing in relation to the standard PAYE worker. Most PAYE workers have actually over paid their tax liability, due to not claiming the correct tax credits.

This year will be the first year Revenue will be contacting workers and this is due to liabilities potentially been owed on the PUP.

You could take this opportunity to review your taxes for the last 4 years. It might soften the blow!

angela1711

gudede wrote: »

Hi Angela,

In a normal year, Revenue do nothing in relation to the standard PAYE worker. Most PAYE workers have actually over paid their tax liability, due to not claiming the correct tax credits.

This year will be the first year Revenue will be contacting workers and this is due to liabilities potentially been owed on the PUP.

You could take this opportunity to review your taxes for the last 4 years. It might soften the blow!

Right thanks for your reply. I was in college more then 4 years ago so can’t do anything about those returns now. Do you know how much tax should be paid for every PUP payment received ? I was on it during the first lockdown and then again for a few weeks of the second lockdown. Every time I’ve received 350 a week. So how many euro is owed for every 350 received ?

gudede

angela1711 wrote: »

Right thanks for your reply. I was in college more then 4 years ago so can’t do anything about those returns now. Do you know how much tax should be paid for every PUP payment received ? I was on it during the first lockdown and then again for a few weeks of the second lockdown. Every time I’ve received 350 a week. So how many euro is owed for every 350 received ?

Depends on your used tax credits and cut off. Impossible for me to say without knowing your full income details for 2020. If you got zero pay apart from the pup then you’ll have zero or little tax liability.