Hi Guys/Girls,
Thanks for all your help before.
Now It's time for Preliminary tax.
I know the rules.
100% of last's year or 90% of current years tax.
But Can I just choose the rule that is better for me?
Or Should I choose the rule that is closer to the final tax?
Example case:
Tax for 2008: 0 - NIL
Approx profit for 2009: €10000 - prediction
Obviously in this case I would use the 100% of the NIL rule for preliminary tax.
But Looking at the accounts now I know that the tax for 2009 will be at least €2000 (20% x €10000).
So which one should I choose?
Thanks for all your help before.
Now It's time for Preliminary tax.
I know the rules.
100% of last's year or 90% of current years tax.
But Can I just choose the rule that is better for me?
Or Should I choose the rule that is closer to the final tax?
Example case:
Tax for 2008: 0 - NIL
Approx profit for 2009: €10000 - prediction
Obviously in this case I would use the 100% of the NIL rule for preliminary tax.
But Looking at the accounts now I know that the tax for 2009 will be at least €2000 (20% x €10000).
So which one should I choose?