Irish Taxi Forum

Public Area => Taxi Talk => Topic started by: dalymount on June 22, 2020, 05:03:39 pm

Title: Question for the rat
Post by: dalymount on June 22, 2020, 05:03:39 pm: Question for the rat it is possible to set up a weekly direct debit to pay my tax to revenue ?
Title: Re: Question for the rat
Post by: Bob Shillin on June 22, 2020, 05:27:43 pm: Yes, ask them to set it up, but it has to be a DD. You can't set up an SO yuorself.
Title: Re: Question for the rat
Post by: dalymount on June 22, 2020, 06:58:50 pm: Thats grand Bob thanks.next question the money I have to pay for last year,do I have to pay that all up first and then start my DD for next year ?
Title: Re: Question for the rat
Post by: Bob Shillin on June 22, 2020, 07:05:27 pm: Quote from: dalymount on June 22, 2020, 06:58:50 pm
Thats grand Bob thanks.next question the money I have to pay for last year,do I have to pay that all up first and then start my DD for next year ?
I'm sure that they will agree to any reasonable proposal put to them, particularly in the light of Covid19, but strictly speaking, in November, one is supposed to pay 2019's tax plus at least an equal amount in advance for 2020's liability. I'm sure that any extenuating circumstances preventing such action, paricularly this year, would be found acceptable by Revenue, but I await the word of the Oracle that is RC for backup or otherwise.
Title: Re: Question for the rat
Post by: dalymount on June 22, 2020, 07:08:31 pm: Ah no I have no problem paying it,I just wasnt sure when my DD should be set up.sorry for the confusion
Title: Re: Question for the rat
Post by: Theoneandonly on June 22, 2020, 07:09:53 pm: You can pay your preliminary tax by DD, which is your estimated tax for the following year, so I guess that would be about half of what you normally pay, then next year if your preliminary tax is enough to cover your payment then you will have effectively switched to direct debit payments for the whole lot
Title: Re: Question for the rat
Post by: Justin Time on June 22, 2020, 10:03:18 pm: Quote from: dalymount on June 22, 2020, 05:03:39 pm
Question for the rat it is possible to set up a weekly direct debit to pay my tax to revenue ?

Do you not pay a certain amount of tax monthly by DD???

For the past number of years,Ive been doing this.
Title: Re: Question for the rat
Post by: dalymount on June 22, 2020, 10:08:38 pm: Thats the question I have asked.I didn't know if I could do that.I thought I had to few the few grand at the time I get my returns done.I never knew I could pay weekly/monthly
Title: Re: Question for the rat
Post by: Theoneandonly on June 22, 2020, 10:16:38 pm: https://www.revenue.ie/en/tax-professionals/tdm/collection/direct-debit/preliminary-income-tax-direct-debit-guidelines.pdf (https://www.revenue.ie/en/tax-professionals/tdm/collection/direct-debit/preliminary-income-tax-direct-debit-guidelines.pdf)
Title: Re: Question for the rat
Post by: Rat Catcher on June 22, 2020, 11:11:09 pm: They'll always accept it on the drip, DM... either for arrears or for preliminary tax. Just give the Collector Generals office a ring, they're sound.
Title: Re: Question for the rat
Post by: john m on June 22, 2020, 11:14:01 pm: How can you pay pre tax for money you dont know you will earn .
Title: Re: Question for the rat
Post by: Rat Catcher on June 22, 2020, 11:14:37 pm: By Direct Debit or post dated cheques.
Title: Re: Question for the rat
Post by: Theoneandonly on June 23, 2020, 12:41:28 am: Quote from: john m on June 22, 2020, 11:14:01 pm
How can you pay pre tax for money you dont know you will earn .

The current year is nearly over by the time you submit the last one, it's not that difficult to estimate
Title: Re: Question for the rat
Post by: Jack Meoff on June 23, 2020, 08:47:31 am: If you are registered with ROS you can log in and pay a few bob anytime you want.
Title: Re: Question for the rat
Post by: Cool Boola on June 23, 2020, 10:32:43 am: Yep...Thats what ROS is for...Daily ping pong with the Taxperson...