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Understanding reduction in credits

  • 11-12-2024 02:27AM
    #1
    havana
    Registered Users, Registered Users 2 Posts: 754 ✭✭✭


    I have an enquiry in with revenue but it's taking an age to get a response! I'm trying to understand the reduction in my tax credits due to underpayment in 2020 & 2021.

    In 2020 my underpayment was €920
    In 2021 it was €4780

    (Due to renting out my up till then ppr. From 2022 I was self.assessed till the sale of the property this year. Subsequent liabilities cleared ).

    To clear the 20/21 liabilities my credits were reduced by €2604 in 2023 and €1935 in 2024. They have said I will.continue to have reduced credits till 2028 - I have just received my 2025 tax certificate and it says there's a reduction of €1435.

    Could anyone help.explain these numbers to me and how much more I owe? I can't seem to get a figure from revenue!

    Many thanks



Comments

  • #2
    Peterk88
    Registered Users, Registered Users 2 Posts: 59 ✭✭Peterk88


    Ring them and tell them u need a final number to pay off the bill as you have been saving they won't be long giving it to u



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