An elderly family member has just received a letter saying that they have been registered for income tax and will need to file returns electronically via ROS going forward.
This has been prompted by non Paye income going over 5,000 per year, all of this comes in the form of dividends from one company which have recently gone over 5,000 per year,
The form mentions appplying for an exemption from this, is it worth applying for this? I would apply based on these factors
A- The person is in their 90’s.
B - Total income including the state pension, a private pension and these dividends account to only about 25k per year.
C - The tax liability on these dividends is more than covered by the 25% dividend withholding tax deducted at source.
Which or all of these factors would be worth mentioning if applying for an exemption? And is it likely to be granted?
This has been prompted by non Paye income going over 5,000 per year, all of this comes in the form of dividends from one company which have recently gone over 5,000 per year,
The form mentions appplying for an exemption from this, is it worth applying for this? I would apply based on these factors
A- The person is in their 90’s.
B - Total income including the state pension, a private pension and these dividends account to only about 25k per year.
C - The tax liability on these dividends is more than covered by the 25% dividend withholding tax deducted at source.
Which or all of these factors would be worth mentioning if applying for an exemption? And is it likely to be granted?