Self Assessment Income Tax Returns Ireland
The Irish taxation system is complicated and we understand that, for most people, the process of lodging an income tax return can be quite stressful. And the cost of getting your return wrong can be quite high – whether it be through fines or missed opportunity for refunds.
Stay focused on growing your business and alleviate your administrative burden by outsourcing the preparation and submission of your income tax returns to the experts. At Greavy & Co we are experienced, qualified tax consultants with an in depth knowledge of the Irish taxation system.
We work hard for our clients and our number one priority when preparing your taxes is to ensure you never pay more than you have to and, where applicable, to legally maximise the refund you are due.
We offer a fast and reliable tax return service and will ensure that you do not pay a cent more than you need to.
Anyone who receives income not subject to PAYE deductions – i.e. profits from freelance/contract work, rental agreements, investments, foreign income or share options – is required to register for self-assessment.
Our income tax returns service is available for all types of self-employed workers, including:
- Small business owners
Submitting income tax returns is stressful and time-consuming, even when you get things right. Make a mistake and you could miss refund opportunities, or even land yourself with a hefty fine.
Our Income Tax Returns Service
As specialist small business accountants when you outsource your income tax returns to us you’ll gain a trusted financial partner who will:
Discuss your requirements
- Developing a comprehensive knowledge of your actual tax obligations and the processes required to satisfy them is hard work.
- Partnering with a specialist accountant will enable you to discuss your individual requirements in detail and on demand, helping you make strategic decisions and avoid costly mistakes.
Identify all applicable deductions
- Everyone is eligible for some form of tax relief. However, understanding the full range of options available and the prerequisites for each is complicated.
- Outsourcing your income tax returns will enable you to gain a financial partner who will identify all the deductions you’re entitled to, ensuring your income tax bill is the minimum you’re legally required to pay.
Prepare your accounts
- Without accurate and up-to-date accounts, submitting your income tax returns will prove both difficult and time-consuming.
- Working with an accountancy partner ensures all your accounts are kept up-to-date in real time, making it easier to gain access to the information needed when the submission deadline is looming.
Submit on schedule
Filing all your income tax return paperwork and paying your outstanding balance and preliminary tax for the current year by the 31 October deadline (14 November for ROS users) can be a stressful experience.
An outsourced partner will know these processes inside-out, ensuring preparations begin on time and expediting the process to ensure all deadlines are met. You’ll barely need to think about it.
Why choose Greavy & Co?
These are just some of the reasons you should choose Greavy & Co:
- Get your income tax returns processed and filed quickly and accurately every time
- Ensure you never pay more tax than you must and legally maximise refunds due
- Have a seasoned, fully-qualified professional administer every stage on your behalf
- Utilise a service that takes account of all active income streams
- Finalise your income tax return submission in person or over the phone – whichever you prefer
- Take advantage of a comprehensive, up-to-date understanding of the Irish tax system
- Adopt a strategic approach to minimising your future tax liabilities
- Find out about any outstanding taxes due and what the payment deadlines are
- Establish a plan to protect your business and family assets
- Gain representation when organising payment plans with Revenue to cover outstanding amounts
- Call on our experienced consultants for taxation advice whenever you need them
We can also process a host of other taxation documents on your behalf, including landlord returns, UK returns, VAT returns, Capital Gains Tax (CGT), Capital Acquisitions Tax and PAYE/PRSI/USC refunds.
Book a telephone consultation with our expert taxation accountants and receive a quote over the phone. Call us on 01 604 0011 today.View FAQ's
What does Self Assessment Mean?
If you are self employed, i.e. carrying out your own business instead of being employed by someone else, then you need to register for ‘self assessment’.
This also applies to anyone receiving any income that is not subject to deductions at source (the PAYE system), including any profits from rents, investments, foreign income, share options or any other source of income.
As soon as you start to receive income that is not subject to PAYE deductions, you must inform the Revenue by completing form TR1 – Registration for Sole Traders, Trusts and Partnerships. You must then complete a self assessment tax return every year.
If you are unsure as to your actual obligations and whether you need to file a tax return we will discuss your requirements with you and if necessary identify every deduction you’re entitled to.
We can discuss and finalise your return either over the phone or face to face, whichever you prefer. So call us today on 01 602 4767 to schedule your consultation with a qualified taxation accountant.
What are the Irish tax return deadlines?
The key date is 31 October.
By this date you must file your tax return and self assessment for the previous year, and pay any balance that may be due for the current year. In addition, you must also pay your preliminary tax for the current year. This is an estimate of what your final liability will be for that year.
Do I need to use an accountant to submit my return?
No, you can submit your return yourself by post or online.
However, the cost of getting your return wrong can be quite high. If you submit your return with errors or if you miss the deadlines you may become subject to fines imposed by Revenue. Additionally, if you are not fully aware of all your credits and deductions you may end up paying to much or miss out on any refund due.