delta_charlie
Registered User
- Messages
- 8
I dread to think what I will owe
(€24k x 33%) + 10% interest for 5 years, plus (€22k x 33%) + 10% interest for 4 years = €23.6k (of which €8.3k is interest).
That would be approximately the position at the start of 2019, assuming they only charge interest and not penalties, which may be more likely if you make a voluntary disclosure.
(€24k x 33%) + 10% interest for 5 years, plus (€22k x 33%) + 10% interest for 4 years = €23.6k (of which €8.3k is interest).
That would be approximately the position at the start of 2019, assuming they only charge interest and not penalties, which may be more likely if you make a voluntary disclosure.
would have been cheaper paying the mortgage .
Is it 100% they will find me ? clutching at straws I know.
Thanks for the advice , nothing weird about it actually , silly/naïve for sure , as already mentioned I don't have it to pay what I owe , anyway lesson learned. cheers.Yes. That was weird strategy to pay down a cheap mortgage with money which did not belong to you which will cost you a lot more in the longer term.
You have got good advice here. Engage with Revenue and pay off what you owe.
Askaboutmoney is not a forum for providing advice on tax evasion which is illegal.
Brendan
Very helpful Brendan , sell the house , be homeless , not an option but thanks for your professional advice.Then sell the house and pay your tax.
Brendan
You can rent a room or rooms out in your home for up to 14k tax free annually. You could use this as a revenue generating means to fund repayment if no other options
I understood the Revenue interest rate was reduced to 2% from last year.Revenue will facilitate a payment plan. Typically 25% up front and then the rest over up to four years at a rate of 8% (the rate is 8% rather than 10%).
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