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Can someone advise me regards claiming back tax.

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  • 14-04-2019 9:39pm
    #1
    Red Lightning
    Closed Accounts Posts: 378 ✭✭


    Hi.
    Just gonna put out my issue here and hope someone can advise me what to do.
    Basically, was on emergency tax for a lot of 2018 and I know I'm owed a good bit of tax. However in September 2018, I took on a small franchise and registered as a sole trader. This means now that I have to complete a form 11 to get my tax back and I haven't a clue how to do it cos it seems very complicated. I went to an accountant to do my books for me and he was going to sort out my tax as well but he was charging close to €500 for the year. That is way too much for the income I'll be making. My aunt does books so she can do it for me but she's unsure of tax back etc.
    Should I go to an accountant to sort out tax back? How much should that cost?
    Thanks


Comments

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    #2
    CIARAN_BOYLE
    Moderators, Sports Moderators Posts: 14,599 Mod ✭✭✭✭CIARAN_BOYLE


    Just put all your I come onto the form 11. Trading income in the trading income section and employment income and tax paid in the employment section.

    Don't over complicate it. Leave sections that don't apply blank. You don't need an accountant.


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    #3
    Red Lightning
    Closed Accounts Posts: 378 ✭✭Red Lightning


    CIARAN_BOYLE wrote:
    Don't over complicate it. Leave sections that don't apply blank. You don't need an accountant.

    Oh really? I must just give it a good go then. I'll admit I felt defeated by only looking at it. Thanks for the reply.


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    #4
    Red Lightning
    Closed Accounts Posts: 378 ✭✭Red Lightning


    Do I fill out a hard copy of the form 11 or is it done online? I've found a form to download. Thanks


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    #5
    CIARAN_BOYLE
    Moderators, Sports Moderators Posts: 14,599 Mod ✭✭✭✭CIARAN_BOYLE


    Red Lightning wrote: »
    Do I fill out a hard copy of the form 11 or is it done online? I've found a form to download. Thanks

    Fill it out on revenue's online system. Much easier than hard copy. Or rather it's easier to bunch the irrelevant parts together and ignore them.


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    #6
    Springfields
    Registered Users Posts: 258 ✭✭Springfields


    Red Lightning wrote: »
    Do I fill out a hard copy of the form 11 or is it done online? I've found a form to download. Thanks

    You can do either. I had to resort to hard copy when the revenue couldn't manage to send me out a RAN to use it online
    It's the same info. The form looks more complicated than it is. A lot of sections won't apply. Just have your p60 etc to hand before you start..


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    #7
    Red Lightning
    Closed Accounts Posts: 378 ✭✭Red Lightning


    Thank you folks


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    #8
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,309 CMod ✭✭✭✭Pawwed Rig


    €500 is cheap to be fair. An accountant could save you money and their fees are deductible at the higher tax rate so depending on your income it may only cost you €250 or so.
    Have you registered for income tax yet?


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    #9
    Red Lightning
    Closed Accounts Posts: 378 ✭✭Red Lightning


    Just applied for my RAN on Revenue so can't do anything online until that comes back. Thanks folks.


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    #10
    Red Lightning
    Closed Accounts Posts: 378 ✭✭Red Lightning


    Do I have to set up a Ros Debit Instruction for any tax I may receive back?


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    #11
    Stratvs
    Registered Users Posts: 958 ✭✭✭Stratvs


    Red Lightning wrote: »
    Do I have to set up a Ros Debit Instruction for any tax I may receive back?

    Under bank accounts in ROS you can register an account for tax refunds. That’s separate to setting up RDIs which are for payments to Revenue.


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