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Do you need to file a self-assessment tax return?


Anyone in Ireland that receives additional income that is not subject to PAYE needs to file a self-assessment tax return. 

At TaxAssist Accountants we work with thousands of individuals across Ireland on their tax returns. By giving you a fixed, competitive price, we can take the worry away when it comes to self-assessment tax returns; allowing you to concentrate on running your business.

If you need assistance filing your income tax return (Form 11 or Form 12) you can call us on 1800 98 76 09 or submit an enquiry online to book your free initial consultation.

 

Looking for an accountant to file your tax return?

Contact TaxAssist Accountants for a free, no-obligation consultation.

1800 98 76 09

Or contact us

 

Who needs to file a Tax Return?

 

If you earn income outside the PAYE system you are required to report this income to Revenue by filing a tax return each year.
 
The most common reasons that you may need to file a tax return are as follows:
 

  • You are self-employed or a partner in a partnership
  • You are a freelancer, contractor or RCT contractor
  • You are a company director
  • You are a landlord or own land that us being let
  • You have large amounts of savings or investment income
  • You have bought/received or sold shares
  • You have sold or given an asset away such as a holiday home
  • You have income from overseas (foreign pensions, rental property abroad). Even if you pay tax abroad you may also need to file & pay here!

 

How does it work?

 

At TaxAssist Accountants we:
 

  • Offer a free consultation to discuss your requirements
  • Set a fixed fee at a competitive price for the work to be done
  • Prepare your tax return
  • Calculate your tax liability
  • Analyse your return to see if any tax savings can be made
  • Review the form ensure there are no anomalies that need to be addressed
  • File the return online
  • Liaise with you on the amounts to be paid and when they are due
  • If you are experiencing cashflow problems, we can explore the possibilities of deferring your tax payments or negotiating a payment plan with Revenue on your behalf

 

Can you help with Capital Gains Tax?

 

Individuals are charged Capital Gains Tax (CGT) in respect of gains made from selling, transferring or otherwise disposing of assets. There are many common assets that can be subject to CGT when they are disposed of, such as stocks, bonds, precious metals. We can help with your CGT return … read more.

 

Tax Returns Knowledge Hub

 

We have a dedicated Tax Returns Knowledge Hub with articles and Q&A to help you have a better understanding about what a tax return is and how we can help you file yours accurately and on time. View hub here

 

When is the deadline?

The deadline for people who pay and file online is 14 November for 2024. Make sure you file now and don’t miss the deadline!

 

Need support with your tax return?

Contact TaxAssist Accountants for a free, no-obligation consultation.

1800 98 76 09

Or contact us

 

 

Frequently Asked Questions

If you make any money outside of your normal PAYE income from your job then you need to file a self-assessment tax return each year.

Some common reasons you may need to file a tax return include; you are self-employed, work freelance or as a contractor, you are a landlord or make money using Airbnb, you are the director of a company, you own shares, you have sold a personal asset or sold all or part of your business, you have inherited money, you make some extra cash doing nixers.

For those that use Revenue Online Services (ROS) the pay & file deadline is Thursday 14 November 2024.  

The form you fill in to file a self-assessment tax return in Ireland is called a Form 11. People use the terms tax return and Form 11 interchangeably.

You can file a Form 11 tax return yourself with Revenue online using Revenue Online Services (ROS) or you can engage an accountant to file on your behalf. 

An allowable expense is an expense that is directly related to the running of your business. For example goods that you buy for resale, employees' payment, rent and bills for your business premises, interest payments for money you borrowed to finance your business.

Tax Credits reduce the amount of tax that you pay. The tax credits you are entitled to are dependent upon your personal circumstances.

Another great way to save money on your tax bill is to pay into a pension. The government offers generous tax relief at your highest tax rate. 

Here are 10 ways to save money on this year’s tax return.

You can pay the tax you owe online through ROS with a debit or credit card.

In order to fulfil your preliminary tax obligations for 2024, a payment should be made along with the filing of your 2023 tax return. Preliminary tax is an estimate of the tax you will owe on next year’s tax return.
 
You have three options when deciding what level of preliminary tax you should pay:

  • Based upon 100% of your 2023 tax charge.
  • Based upon 90% of your 2024 tax charge (this will need to be an estimate at the time of filing the return).
  • 105% of your final tax charge for the pre-preceding tax year (2022). This option is only available where preliminary tax is paid by monthly direct debit.

If you miss the tax return deadline there are a number of consequences. You will be charged interest and a late filing surcharge.
Filing late can increase the likelihood that you will be chosen to be audited by Revenue and uou could lose your entitlement to government grants and subsidies as businesses must be entitled to a tax clearance certificate to qualify for these schemes. If you have missed the deadline the most important thing is to get the return filed as soon as possible. 

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1800 98 76 09

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