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Move from Income Tax to Paye + Form 12

  • 22-09-2021 6:20pm
    #1
    Me2U2
    Registered Users, Registered Users 2 Posts: 22 ✭


    Just wondering does anyone know if you registered for income tax in 2020 because your 2019 taxable income in addition to PAYE was over the €5,000 limit, but 2021 taxable income will be below this, can you move back to submitting form 12 and just having your tax credits reduced for 2022?



Comments

  • #2
    wally1990
    Registered Users, Registered Users 2 Posts: 1,228 ✭✭✭wally1990


    If you have no longer a legal tax reason to be registered for income tax in respect of the year 2020 then you simply need to deregister for income tax ASAP before the filing deadline in respect of the year 2020


    It's sound like you needed to register for income tax last year because of your 2019 income as mentioned so you should know the deregister in respect of last year



  • #3
    wally1990
    Registered Users, Registered Users 2 Posts: 1,228 ✭✭✭wally1990


    Sorry, And to your question yes you can go back to a form 12 (statement of liability <>PAYE tax return ) and have the credits reduced but you need to de register for income tax first



  • #4
    Me2U2
    Registered Users, Registered Users 2 Posts: 22 ✭Me2U2


    https://www.boards.ie/discussion/comment/117925594#Comment_117925594

    Thanks a million for that. Very helpful.



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