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04/06/2019

ROS - Extension of Pay & File deadline for ROS customers for 2019

On 9 May 2019, Revenue announced an extension to the ROS return filing and tax payment date for certain self-assessment income tax customers and for customers liable to Capital Acquisitions Tax (CAT).

For customers who file the 2018 Form 11 return and make the appropriate payment through ROS for:
●Preliminary Tax for 2019,
●Income Tax balance due for 2018,

the due date is extended to Tuesday, 12 November 2019.

For beneficiaries who received gifts or inheritances with valuation dates in the year ended 31 August 2019 and who make a CAT return and the appropriate payment through ROS, the due date is also extended to Tuesday, 12 November 2019.

To qualify for the extension, customers must both pay and file through ROS. Where only one of these actions is completed through ROS, the extension does not apply and the required date to submit both returns and payments is no later than 31 October 2019.

Additionally, for PAYE customers who are required by Revenue to file a Form 12 for 2018 and who opt to use the online version, the due date is also extended to Tuesday, 12 November 2019.

23/01/2019

What will it involve?
PAYE Modernisation will involve an “Employer Submission” to Revenue each time an employee is paid. The Employer Submission will contain information similar to that which currently appears on an employer’s P35 return.

Will it create additional work for payroll operators?
It is envisaged that the workload for employers using payroll software will not increase as the majority of payroll software products should be capable of communicating electronically with Revenue (e.g. obtaining new tax credit certificates, facilitating Employer Submissions, etc.) without the need to upload or download files as currently happens. P30s, P35s and P45s will be abolished with employers submitting this information to Revenue electronically in the Employer Submission.

As noted previously, the reporting obligations for smaller employers, especially those availing of the direct debit payment option will increase. Currently these employers may be making one submission to Revenue each year (i.e. an annual P35 return), however under PAYE Modernisation, these employers will have to make an Employer Submission for each pay period. Revenue aim to provide an online data capture mechanism to allow employers report payments where payroll software is not in use.

13/12/2018

2019 and the previous tax years.

Tax rates and rate bands

Rates and bands for the years 2014 to 2019


Personal circumstances

2019 €

2018 €

2017 €

2016 €

2015 €

2014 €

Single, widowed or a surviving civil partner without qualifying children

€35,300 @ 20%, balance @ 40%

€34,550 @ 20%, balance @ 40%

€33,800 @ 20%, balance @ 40%

€33,800 @ 20%, balance @ 40%

€33,800 @ 20%, balance @ 40%

€32,800 @ 20%, balance @ 41%


Single, widowed or a surviving civil partner qualifying One Parent Family Tax Credit (2013), Single Person Child Carer Credit (2014)

€39,300 @ 20%, balance @ 40%

€38,550 @ 20%, balance @ 40%

€37,800 @ 20%, balance @ 40%

€37,800 @ 20%, balance @ 40%

€37,800 @ 20%, balance @ 40%

€36,800 @ 20%, balance @ 41%


Married or in a civil partnership (one spouse or civil partner with income)

€44,300 @ 20%, balance @ 40%

€43,550 @ 20%, balance @ 40%

€42,800 @ 20%, balance @ 40%

€42,800 @ 20%, balance @ 40%

€42,800 @ 20%, balance @ 40%

€41,800 @ 20%, balance @ 41%


Married or in a civil partnership (both spouses or civil partners with income)

€44,300 @ 20% (with an increase of €26,300 max), balance @ 40%

€43,550 @ 20% (with an increase of €25,550 max), balance @ 40%

€42,800 @ 20% (with an increase of €24,800 max), balance @ 40%

€42,800 @ 20% (with an increase of €24,800 max), balance @ 40%

€42,800 @ 20% (with an increase of €24,800 max), balance @ 40%

€41,800 @ 20% (with an increase of €23,800 max), balance @ 41%


Note: The increase in the rate band is capped at the lower of €25,550 or the income of the lower earner. This increase cannot be transferred between spouses or civil partners. For more information on this see Joint Assessment

25/10/2018

Pay and File deadline 2018

Apr 30, 2018

The extended Revenue Online Service (ROS) return filing and tax payment deadline for Form 11 income tax returns and for beneficiaries liable to Capital Acquisitions Tax (CAT) is 14 November 2018.

For taxpayers who file a 2017 Form 11 income tax return and make the appropriate payment through ROS for:
Preliminary Tax for 2018 and
Income Tax balance due for 2017,

the due date is 14 November 2018.

For beneficiaries who received gifts or inheritances with valuation dates in the year ended 31 August 2018 who make a CAT return and the appropriate payment through ROS, the due date is also 14 November 2018.

To qualify for the ROS extension of 14 November 2018, it is necessary to both pay and file through ROS. If only one of these actions is completed through ROS, the extension does not apply and the required date to submit both returns and payments is no later than 31 October 2018.

Additionally, for PAYE taxpayers who are required by Revenue to file a Form 12 for 2017 and who opt to use the online version, the due date is also extended to 14 November 2018.

15/09/2018

If you are self-employed in Ireland, you pay tax on the profits you make from your business and on any other income that you have. Each year, you must file a self-employed tax return. However, there are a number of different details and important dates that you need to be aware of from the outset.

Failure to adhere to them could result in unwanted interest payments. To help you, we’ve put together this handy guide with all the important dates and details you need to know and how to best prepare yourself for all of them.

Self Employed Tax Deadline 2018

By 31st October 2018: Tax Deadline

Be sure to submit all self – assessment income tax documents by this date. This is the final deadline for filing your 2017 income tax return, paying the balance of your 2017 tax liability and also preliminary tax for 2018.

Relevant documents

Make sure to continuously keep track and file your business receipts throughout the year. This will help eliminate time and stress when it comes time to submit all necessary tax documents. Receipts serve as evidence of your business expenses – without them you cannot make a claim against the expense.

In addition to managing your business expense receipts, you’ll also need to keep track of all your sales invoices as well as your bank statements for the year. This will help eliminate any stress when it’s time to file your self – assessment income tax.

What you’ll pay

Come 31st of October 2018 you will be responsible for filing your tax return and self – assessment for the previous tax year (2017 tax year) and paying tax due. You must file your tax return if you earn non – PAYE sources of income. A proprietary director must also file a tax return.

You’ll also need to pay your preliminary tax for the 2018 tax year. Preliminary tax is 100% of the tax due for the preceding year (2017) or 90% of the tax due for that year (2018).

Late payments

Be sure you do not miss the October 31st self – employed tax return deadline or you might end up paying more than you’d like. Interest may be charged for each day (or part of day) you go over.

Paying interest on late fees will quickly add up and cause more financial complications than you need. A Surcharge is also payable if you file your tax return late. If you file your tax return within two months of the deadline, you will be charged 5% of the tax liability up to a maximum of €12,695. If you file your tax return over two months of the deadline, you will be charged 10% of the tax liability up to a maximum of €63,485.

21/07/2018

If you're starting your own business and work full-time in your own company, you can claim back the income tax you paid in the previous 6 years to invest equity into a company (subscribed as shares) engaged in a qualifying trade.

The amount of relief is restricted to the amount of the investment and the ceiling on recoverable tax can be up to €100,000 in each of the 6 look-back years.

28/12/2017

We can look after all your accountancy and taxation requirements just contact us and we can give you a free quote for the services your looking for.

Address

Castle Chambers
Cork
T12T25W

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+353212019996

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