Busy

[Jonno]

If they cannot prove they're business is down by x amount they no longer qualify for the subsidies so some of the closing could be strategic.Or maybe I'm too cynical.One gastro pub where I am had no card facilities for a whole day.Very odd.Now I bring cash just in case so It kinda suits them.

Think that the turnover issue will be an "end of year returns" issue. I know one petrol centra/station whose business is booming, and is still getting staff subsidies.

They are not the only ones who will have end of year returns issues! I hope the taxman doesn't mind giving me a free pass this year. The covid drained me dry.

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[Shallowhal]

Speaking with my own accountant over the last few days,she was saying that she's kinda expecting Revenue to offer self employed(they currently don't)the option to "warehouse" their liability for this year,you could always write to them and state your case if you had encountered problems,i'm filing my 2019 returns now and because i pay prelim tax i only owe a relatively small amount(Payable Nov 12th)and have up till Nov 11th to decide whether to pay prelim or enter Nil for 2020.
I'm due to change car next Feb so every cent i can save till then i will,my accountant is aware of this also.

[Jonno]

Speaking with my own accountant over the last few days,she was saying that she's kinda expecting Revenue to offer self employed(they currently don't)the option to "warehouse" their liability for this year,you could always write to them and state your case if you had encountered problems,i'm filing my 2019 returns now and because i pay prelim tax i only owe a relatively small amount(Payable Nov 12th)and have up till Nov 11th to decide whether to pay prelim or enter Nil for 2020.
I'm due to change car next Feb so every cent i can save till then i will,my accountant is aware of this also.

I don't (rightly or wrongly) pay prelim. Never did since day one of becoming self employed. Surprisingly they didn't come after me yet! Anyway, I will have the full 2019 bill to pay. I don't know if they will accept fresh air. I saw the following (attached) on revenue site recently. I don't fully understand it, but sounds something like what you are talking about. I split it between the two images because the whole thing would not fit into one screen shot..

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[Shallowhal]

@Jonno,
I spoke at length to her about prelim...cos i've always paid it...even when i had my kitchen biz....and the fact that some(on here) don't.....she said you actually are...it's just that you are a year behind with your liability and you're probably paying the same amount every year,if....and it's a big if...you were ever audited some taxi drivers could find themselves in a world of hurt.

[Jonno]

@Jonno,
I spoke at length to her about prelim...cos i've always paid it...even when i had my kitchen biz....and the fact that some(on here) don't.....she said you actually are...it's just that you are a year behind with your liability and you're probably paying the same amount every year,if....and it's a big if...you were ever audited some taxi drivers could find themselves in a world of hurt.

Cheers bud.I've dumped my bookkeeper that I've been using for 11 years. Too many reasons to list. I've literally had an email from the new guy I'll be using this year to come out and sign something a revenue agent form. I'll be finding out about the warehousing thing. I'll balance out the prelim thing next year as I know I'm going to be in a better position then.

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[Jonno]

@Jonno,
I spoke at length to her about prelim...cos i've always paid it...even when i had my kitchen biz....and the fact that some(on here) don't.....she said you actually are...it's just that you are a year behind with your liability and you're probably paying the same amount every year,if....and it's a big if...you were ever audited some taxi drivers could find themselves in a world of hurt.

Cheers bud.I've dumped my bookkeeper that I've been using for 11 years. Too many reasons to list. I've literally had an email from the new guy I'll be using this year to come out and sign something a revenue agent form. I'll be finding out about the warehousing thing. I'll balance out the prelim thing next year as I know I'm going to be in a better position then.

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Nb.. Its just as well that there is some sort of automated system in the rev. If a fella wasn't tax cleared there'd be a problem at suitability time

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[Shallowhal]

Revenue agent form is a thing alright,be sure that he/she has your address for tax clearance purposes,sometimes they send it with your name c/o your agent to their address...and as we know...that's trouble.

[Jonno]

Revenue agent form is a thing alright,be sure that he/she has your address for tax clearance purposes,sometimes they send it with your name c/o your agent to their address...and as we know...that's trouble.

Just now signed the form so train is in motion

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[Taxi driver42]

Thank you No=42...When you say its BUSY...do you mean...for a hour or so or is it going on all day or/and night...Do you post the information in real time or do you wait until you get home...I am trying to determine the overall value of your helpful information and wondering if I should log on more often...to see your updates....If its that BUSY...I might slip out for a bit after i ring the NTA and Insurance....P.S. Could you let us know also ..when its not busy...Thanks anyway

Sarcastic or what?

[watty]

@ Jonno, you should look into paying a monthly direct debit to Revenue once you're in a position to do so.  It saves you a big bill in Oct.

[Shallowhal]

I generally put money away every month for tax and a car/repairs.....i'd rather have it gather a bit of interest(very little) in my account than Revenues but i understand the benefits.

[Jonno]

@ Jonno, you should look into paying a monthly direct debit to Revenue once you're in a position to do so.  It saves you a big bill in Oct.

Might check it out. I've plenty dds going out already. I'll do me sums and see if it's feasible

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[Shallowhal]

I should add that there have been months when i wouldn't....for whatever reason....didn't put anything away and i'd hate to have a Debit that i couldn't afford in a particular month coming iut of my account.

[Jonno]

I should add that there have been months when i wouldn't....for whatever reason....didn't put anything away and i'd hate to have a Debit that i couldn't afford in a particular month coming iut of my account.

A better option might be to "reduce" my income. I'm tired of hearing fellow drivers telling me of the ridiculously small amounts of returns they make year on year. Yet Joe bloggs here will be the one mug called for an audit.

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[watty]

Say your tax bill is €1,200.  IMHO, it's easier to find €100/month than €1,200 in Oct/Nov!