Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Qualifying disclosure - income tax expenses and interest

  • 04-05-2021 9:51pm
    #1
    Osloman
    Registered Users, Registered Users 2 Posts: 2 ✭


    When doing a QD for income tax, am I still able to include expenses incurred in that tax year, or is there a time limit to how far back you can include them.

    I am in the process of pulling together all our figures, and I’m going to engage an accountant, but trying to figure out some of the details first.

    I have read about the 4 year rule - we are definitely not expecting a refund, by reducing a tax bill already submitted, but wondering if this also applies to income tax returns not completed, but done via a disclosure?

    It also mentions calculating interest. Does anyone know of a guide that shows how that is calculated?

    Thanks in advance.


Comments

  • #2
    Saudades
    Registered Users, Registered Users 2 Posts: 387 ✭✭Saudades


    Osloman wrote: »
    It also mentions calculating interest. Does anyone know of a guide that shows how that is calculated?

    Interest on overdue Income Tax is 0.0219% per day (8% a year).


Advertisement