Teacher - Advice on deregistering a side business - steps to take - Need Idiots Guide level advice!

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minniebix

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Not very finance savvy - appreciate any advice or ' idiots guide to ' please

Had a therapy business until march 2020 since 2009 - I used an accountant once a year to sort my tax. I became a teacher 10 years ago so am PAYE.
I haven't had a client since March 2020 ( Covid) . My accountant filed for 2019 and 2020.. He recommended not deregister the therapy business as I was still in two minds whether I would go back to it. He filed for 2021 ( in oct 2022) even though I had nothing to file and I told him I was done. I didn't hear from the accountant after that and I never contacted them. I naively assumed my accountant had updated / de-registered that element when he heard no more from me since.

I have since sorted salary protection ( since last year ) and started AVCs this year and was advised to sort my tax credits so I am finally entering the land of ROS while following some "how to" tax videos for teachers. I also want to update medical expenses over the last 4 years half of which I wasn't aware I could claim for.

Today I logged in to My Revenue account starting with adding my income protection which I started last year and I received a message saying "You cannot proceed as you (and/or your spouse or civil partner, if applicable) were registered for Income Tax during the year." when I try to log to manage my tax credits...

This I assume has to do with prior therapy business ?? . I have just read about a form RBN3 that I may need to send in. ??? If I send this in will I get access??? I noticed I have to put the date when my business ceased.... In reality this is march 2020... but what date can I put in if my accountant filed for 2021.

Do I need to go back to my accountant about all of this??? or can I sort this myself.

Thanks a million - appreciate any advice.
 
Ok... So this might not be your case, but throwing it out there. Was chatting to a teacher friend .. she said she ended up having a revenue audit! The one area where she had messed up, was she had claimed for salary protection. However, as this is often (not always) through Cornmarket (and they get over €12 per fortnight for the service), salary protection tax credit is organised at source. She ended up claiming twice for it.
So if your salary protection through Cornmarket, already claimed for.
It might not be...
 
Thanks for your reply. My income protection is not through Cornmarket which is why I need to sort my credits.
 
You should be able to login to ROS and correct your tax credits and claims using Form 11
 
jpd said:
You should be able to login to ROS and correct your tax credits and claims using Form 11
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Assuming she has the cert ? I think her accountant may have it. From a personal perspective, I sent a letter to revenue a few years ago asking them to deregister for Form 11 and they duly obliged but I would send that form in and state that you ceased in 2021 as long as you are sure that your accountant filed the form. I suggest you just call him in case he actually filed in a form for 2022 or later. He can hardly charge you for a phone call.
 
elcato said:
Assuming she has the cert ? I think her accountant may have it.
Click to expand...
An agent digital cert is totally different from that allocated to a taxpayer for their own use.
elcato said:
I would send that form in and state that you ceased in 2021 as long as you are sure that your accountant filed the form.
Click to expand...
It's easy for the OP to deregister.

Just complete and send in Form TRCN1
They should date the deregistration from an appropriate date in 2021.

This should remove any need to file returns for later years, regardless of what has or hasn't been done by their accountant.
 
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If you are registered for ROS, you can deregister online using ROS.

Go into Manage tax registrations.
Click Edit.

You will then see a list of your tax registrations and select the one you wish to deregister.
 
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