How to submit/calculate Preliminary Income Tax for 2022

Xanadu67

I registered as self employed in 2021 but didn't start trading till 2022. I submitted a FORM11 for 2021 and got a refund from Revenue back in June '22.  I went onto my ROS account to file Preliminary tax return for 2022 but can't see where or how to do it. 

I don't want to have to use an accountant as it's only a small income but want to keep tax returns up to date.

Any advice / guidance

ari101

If not paying when filing the prior year return you don't file a return you just make a payment.

On your ROS if you choose:

Submit a Payment, Tax payment/Declaration, Income Tax, and then Make Payment

It will bring you to a screen with a list of years and at the top or bottom there should be a line for Preliminary Tax and the dates for 2022... you can click Pay and do it there.

Xanadu67

https://www.boards.ie/discussion/comment/119775321#Comment_119775321

Thanks got that, but do I need an accountant to work how much to pay? or is there a way of calculating it myself?

ari101

Safe option is to pay 100% of last year's total tax due. You can pay the balance or get a refund when you file your return next year. You can also choose to do 90% of the expected 2022 liability, but unless you expect a significantly lower liability, better to go with the previous, as if you choose the 90% option and underestimate revenue can apply, interest, penalties and surcharges.

standardg60

https://www.boards.ie/discussion/comment/119776365#Comment_119776365

Just fill in the form 11 with your expected returns for this year and click calculate liability.