You do still have some time left to file your return on time with the Revenue but you need to hurry if you donít want to receive an automatic surcharge. You can register with an accountant to file your returns online on your behalf, giving you a final deadline of the 14th November to get your tax return filed.
You will then need to start getting all of your records together for your return. The main documents you will need are sales invoices and purchase invoices for the period, as well as business bank and credit card statements.
It is important to file your tax return on time as if you miss the deadline, the Revenue issues an automatic late filing surcharge. A surcharge of 5% of your tax liability applies where the return is late but filed within two months of the deadline. This increases to 10% where the return is filed more than two months late. The surcharge is calculated on the tax charge before taking account of any payments on account.
If this is your first time to file a tax return or if you would like some help in filling your return contact TaxAssist Accountants.
Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.