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Form 11 - Statement of Net Liabilities

fragglerock77 · 2021-11-12 16:41:47

I currently pay Prelim Tax via monthly debit and this is the first year doing same. On the final page of Form 11 I have an Income Tax Balancing amount for 2020 which is grand, and then a box to fill in Income Tax Preliminary Tax 2021. My prelim tax will be the amount I have paid by Dec21 (ie Nov & Dec debits havent been…

12-11-2021 4:41pm

#1

fragglerock77

Registered Users, Registered Users 2 Posts: 13 ✭

Join Date: November 2019

Posts: 6

I currently pay Prelim Tax via monthly debit and this is the first year doing same. On the final page of Form 11 I have an Income Tax Balancing amount for 2020 which is grand, and then a box to fill in Income Tax Preliminary Tax 2021.
My prelim tax will be the amount I have paid by Dec21 (ie Nov & Dec debits havent been paid yet). Eg 2020 tax is 5,000, Prelim tax is 20,000, 15000 paid to date by dd with 2500 due in Nov and in Dec.
Do I put 20K in Income Tax Preliminary Tax 2021 and then that gives me an amount owing of 25K - so do I just adjust payslip to pay 5k?
Any help would be great

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