cant afford to pay rental tax for 2009

M

myoaktree

Guest
hi there, i have calculated that the rental tax owed on our property thats rented out 2009 due 31st oct 2010 is approx 1800 euro, the problem is that due to my husbands salary been halved this year we are not able to pay the amount owed to revenue in one lump sum, do you know if it would be possible to pay this amount in monthly installments instead of a lump sum, has anyone done this?

Thanks a mill in advance
 
Yes.

Submit the return, pay what you can and contact Revenue to discuss an instalment arrangement.

Remember that preliminary income tax for 2010 will also be due on 31 October.

Revenue will charge interest at a rate of circa 10% per annum. Their justification for the relatively high rate is that "they're not a bank".
 
thanks pat, but i assumed you paid 2009 tax in 2010 and 2010 tax in 2011..what is preliminary tax??? This is my first year filing tax returns..

thanks in advance
 
You pay the balance of your income tax liability for 2009 on or before 31 October 2010 (if you submit a paper return). You also pay preliminary income tax for 2010 which should be equal to either 100% of your final liability for 2009 or 90% of your final liability for 2010 (this must obviously be estimated).
 
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