Balancing Statement

Aren't revenue balancing statements usually out by now? Has anyone received their's?

skinnylegs said:

Aren't revenue balancing statements usually out by now? Has anyone received their's?

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The 2024 PAYE Form 12's are not available either.

I believe they are called Statements of Liability now?

There is a thread on www.boards.ie full of people who submitted their Form 12 tax returns in early January, and who as a result, have received tax rebates already.

My daughter received an emailed statement of liabilities 2 days ago. But it was for 2023 !

She requested the statement of liabilities in January 2024 and got the statement a few days later.

The recent one is exactly the same as the January 2024 one.

Couple of points just for clarity:

You do not submit a statement of liability. You file a tax return via your online Revenue account or via a paper form 12.

The tax return you file via your Revenue myaccount which generates your statement of liability is the same as the paper form 12.

Unless there's some very specific reason to file a paper return, you should be filling via your Revenue myaccount.

Normally, your statement of liability will generate within 48 hours of you filing your tax return where you declared all your sources of income and claimed any additional credits/reliefs you were entitled to.

If any any refund is due based on the tax return filed, it should issue within a week.

Some tax returns filed are selected for manual review which means the normal timelines will be out the window if that happens.

Ok, thanks all.
Is this statement true?
In order to get your entitled tax credits for health expences paid directly to your bank account then you should submit them after you get your balancing statement.

If you don't submit extra income it will be paid to your bank account.

If you submit extra income and health expenses in the same tax return then the extra tax to pay on income will reduce the tax credits received from the health expenses.

relax carry on said:

You do not submit a statement of liability. You file a tax return via your online Revenue account or via a paper form 12.

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Yes I corrected my post #4

You request your statement of liabilities, and then fill in and submit the myaccount tax return.

Apologies but I can't seem to find the reply to a specific post function for some reason.

For the poster @skinnylegs , just follow the instructions in the link I provided earlier. You are filling a tax return. The tax return must contain all your sources of income and any additional tax credits/reliefs you wish to claim. Everyone's tax situation is unique to them so no one can tell you if you'll get a refund for your health expenses to your bank account. However assuming you had no additional non PAYE income to declare and you paid PAYE in the year where you incurred qualifying unreimbursed health expenses, and you've now added those health expenses to your tax return for that year, then you should get a refund of tax directly to your bank account. When you receive your statement of liability from filling the tax return, page 1 shows the result of what you filed. Page two shows what was included in calculating the result.

Thank you