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self employed return + tax refund

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  • 14-01-2013 2:49pm
    #1
    Udik
    Registered Users Posts: 3 ✭


    Hello everybody. This year, after being employed in the first half of the year (in two different companies), I resigned and registered as a sole trader. Now I guess the moment has come to file a tax return and/or claim back taxes for year 2012 (as my PAYE taxes were calculated on a 50k gross income, and the actual income in the year is about 30k).
    As I'm totally new to this, I'm asking for advice.

    1) is it simple enough to file the tax return and claim taxes back, or should I contact an accountant? How much would that cost me, and would it be better in the end (maybe allowing me to claim back part of the rent as well, as I'm working from home, etc.)?

    2) I've been contacted by a company that files tax refund claims. They're asking for a fee in the region of the 300/400 euros only to file the income return for this year + 12% for any tax refund. Does it make sense?

    3) Can anybody point me to any source of information/ give advice on how to
    -- file a tax return as a self employed who has been also employed for part of the year;
    -- get a tax refund on my PAYE?

    Thanks everybody!
    Tagged:


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    #2
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    You should be able to get an accountant to sort out all of that for about e500 (expensable). It is worth it because they will also properly advise you and answer all the above questions. Note that having an accountant does not suddenly allow you to claim extra things, it just means you are better informed.

    Don't bother with the "tax return company". You will get much more service from a dedicated accountant. When operating as a self-employed person there are always lots of little questions, so it's good to have a professional that you can just email about it. Accountant will do business affairs+personal tax, the tax refund company will only do the latter (and probably not as well).

    If you really want to go it alone all the info you need is here: www.revenue.ie. There are also lots of stickied threads at the top of this forum giving links and explaining stuff.

    To answer one of your questions properly at least (Q3): File a form 11 (self-assessment return). Make sure you have claimed all your tax credits (bins, medical, rent/mortgage relief etc), then any refund you are due will arrive by cheque. Sign up on www.ros.ie if you want to do this electronically (of course you do!).


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