Revenue online tax liability problem.

L

little feat

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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?
 
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?
 
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.
 
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
 
little feat said:
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
Click to expand...

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