Best way to do tax return ?

[suicra05]

Hi,

I normally get an accountant to do my tax return for the property. Due to the economic situation I am thinking of doing the tax return for 2008 myself and saving the accountant fee. What is the best way to do this. Is there a special format required by the revenue. Do I do it through revenue on line or what? We have paye income plus returns in relation to the property. Advice please.

 

[pjmn]

I just do a simple spreadshhet - showing the rental I've collected, and the charges I'm claiming against the rentals. They've always accepted it that way from me, with my Form 12.

I opened a seperate bank account which does make things a lot simpler to collate.

 

[murphaph]

Quick question:
Once I've calculated my taxable rental income (after allowable deductions), and applied tax at 41% (I paid PAYE tax at the top rate last year so assume this is correct), how much PRSI am I supposed to apply? 6%? (I am presuming the income levy only kicked in from january 2009 and is irrelevant here?) Thanks for the help ;-)

Edit: Just looked at http://www.revenue.ie/en/tax/it/leaflets/it1.html#section18 and it seems I have already paid all the PRSI they expect out of me for the year as I am in the "Earnings from €50,700 to €100,100 to a Health Contribution of 2%" category as I earned between 51k and 100k last year. Am I reading that right, ie, I only need to pay the health levy on my rental income? (2%)