Revenue online tax liability problem.

[little feat]

Using the Revenue Online service I have calculated my gross income as €26500 with expenses of €8000 and the system shows a net taxable liability of €2440!

I work at most 20 hours per week hence the low gross earnings and have no other income.

Last year I was not liable for any tax on slightly less earnings. How can it be €2440 now?

 

[JJ1982]

have you ticked boxes for all your tax credits?

 

[Graham_07]

From the bare information provided and assuming Self-employed no other income and single (OP needs confirm status) then tax/prsi would be
18,500 x 20% = € 3,700
Less Single credit €1,760
= Net tax €1,940
PRSI 3% on €18,500 = €555
Net Tax/PRSI €1,940+€555 = €2,495
Is there something else OP needs to put in?

 

[ubiquitous]

Last year I was not liable for any tax on slightly less earnings. How can it be €2440 now?

Did you claim PAYE credit last year? Were you entitled to do so?

 

[little feat]

Hi and thanks for replies. I am single, with a partner and child but single as far as revenue is concerned. Being self employed I don't think PAYE credit comes into it and didn't last year. "Ticking the boxes" for other tax credits I'm afraid I don't understand.

 

[papervalue]

Hi and thanks for replies. I am single, with a partner and child but single as far as revenue is concerned. Being self employed I don't think PAYE credit comes into it and didn't last year. "Ticking the boxes" for other tax credits I'm afraid I don't understand.

If you are not living with partner you are also entitled to single parent tax credit. ( you are entitled to single person credit plus single parent credit) you do have to tick box for single parent.

 

[little feat]

Thanks Papervalue, happily living with partner + child so that can't be it.

What's bothering me is that last year using the service of an an accountant I had no tax liability and earned just 2 grand gross less and this year using RoS I have a relatively bumper liability

 

[papervalue]

Thanks Papervalue, happily living with partner + child so that can't be it.

What's bothering me is that last year using the service of an an accountant I had no tax liability and earned just 2 grand gross less and this year using RoS I have a relatively bumper liability

Take out last year assessment and compare it to your present draft and try to spot any major differences

 

[ubiquitous]

What's bothering me is that last year using the service of an an accountant I had no tax liability and earned just 2 grand gross less and this year using RoS I have a relatively bumper liability

Well if you don't know what you are doing,.....

 

[little feat]

Well if you don't know what you are doing,.....

I know I'm fumbling about here somewhat but I believe doing it yourself is probably the way to go.

Take out last year assessment and compare it to your present draft and try to spot any major differences

Thanks again, they are going to post last years assessment and I will compare both.

 

[ubiquitous]

I know I'm fumbling about here somewhat but I believe doing it yourself is probably the way to go.

... indeed, if you feel that way, but hardly to the point of unnecessarily paying thousands more in tax