Hi all,
I mentioned some months ago about a family friend who had a liability with the Revenue (vat).
In summary, he closed his business down this year and is no longer self employed but continues to make payments against his liability.
He is now in the process of filing income tax for 2014 and his accountant has informed him that if he has a liability for that year he will be required to pay preliminary tax for 2015. However I am aware there wont be an income tax liability.
As there is still an outstanding vat liability outstanding can preliminary tax be demanded on this basis?
I mentioned some months ago about a family friend who had a liability with the Revenue (vat).
In summary, he closed his business down this year and is no longer self employed but continues to make payments against his liability.
He is now in the process of filing income tax for 2014 and his accountant has informed him that if he has a liability for that year he will be required to pay preliminary tax for 2015. However I am aware there wont be an income tax liability.
As there is still an outstanding vat liability outstanding can preliminary tax be demanded on this basis?