Tax Returns

6_Accounting & BookkeepingCompleting a tax return can be a stressful exercise even if there are few entries to make. When the October self assessment filing deadline approaches the stress levels will rise even further! We have completed thousands of tax returns for individuals across Ireland.

 

 

At Financial Management Consultant we:

  • Ensure you claim all the tax credits you are entitled to.
  • Offer proactive advice on any tax savings that can be made.
  • Ensure you are fully compliant with all Revenue obligations on time.
  • Quote a set price from the outset for your tax return – no nasty surprises!

After preparing your tax return  we will meet with you to agree your liability before filing the return online and will liaise with you on the amounts to be paid and when they are due.

We will analyse your self assessment tax return to see if any tax savings can be made and, if we have information for two or more years, then we can look to see if there are any anomalies that need to be addressed before the latest tax return is submitted. By giving you a fixed, competitive price and, provided that you can supply the information within a reasonable time scale, we can take the worry away when it comes to self assessment tax returns allowing you to concentrate on running your business or enjoying additional leisure time.

Self-Assessed Tax Returns

Self assessment is a system which gives you greater control and responsibility over your tax affairs. It applies to people chargeable to Income Tax who are in receipt of income from sources which are not chargeable to tax under the PAYE system or where some but not all of their tax on these sources of income is paid under PAYE.

Self-Assessment applies for Income Tax purposes to:

  • Self-employed persons (i.e. people carrying on their own business including farming,professions or vocations)
  • Persons receiving income from sources where some or all of the tax cannot be collected under the PAYE system, for example profits from rents
  • Profit arising on exercising various Share Options/Share Incentives.
  • Maintenance payments to separated persons
  • Foreign income and foreign pensions
  • Investment income
  • Fees

Under Self-Assessment there is a common date for the payment of tax and filing of Tax Returns, i.e. 31 October. This system, which is known as “Pay and File” allows you to file your current year and pay the balance of tax outstanding for the previous year at the same time. Under this system you must:

  • pay Preliminary Tax for the current tax year on or before the 31 October each year.
  • make your Tax Return after the end of the tax year but not later than the following 31 October. This is known as the “specified return date”.
  • pay any balance of tax due for the previous tax year on or before 31 October.
  • pay any Capital Gains Tax on disposals made between 1st Jan and 30th Sept of the current tax year.

How we can help?

Annual self assessment tax returns cause many businesses concern and stress each year. We offer competitive pricing on tax returns and are very flexible. Let us take this hassle away from you.

Call us today to discuss your pay and file obligations on 01 8486816 or complete our contact form and we will call you back.