Help! bill from revenue that I don't think is right

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kk51

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I've receive a notice saying I owe money for 2009. I can't figure out how I do. Who's the best person to help me figure this out? Tax consultant, account?
How much should this cost? Any recommendations for one in Limerick.


Here are some details:
I'm PAYE and have been for years so the company I work for take care of all the tax, PRSI etc.
I recently filled in a Form 12 to declare rental income and paid the tax on that.
The tax bill plus what I already paid them is more than the profit from the income.

Can anyone help?
 
kk51 said:
I've receive a notice saying I owe money for 2009. I can't figure out how I do. Who's the best person to help me figure this out? Tax consultant, account?
How much should this cost? Any recommendations for one in Limerick.


Here are some details:
I'm PAYE and have been for years so the company I work for take care of all the tax, PRSI etc.
I recently filled in a Form 12 to declare rental income and paid the tax on that.
The tax bill plus what I already paid them is more than the profit from the income.

Can anyone help?
Click to expand...

If you give an estimate of figures, I sure someone on board will estimate tax bill

Information needed

Gross pay
Tax Deducted
Income lEvy Deducted

Rental Profit

What tax credits do you have eg single person, paye credit

Did you tick paye credit box

Why do you think your tax bill is wrong?

If straight forward someone can give you answer without going to someone and paying
 
Thanks for the response papervalue. As I said earlier my only sources of income are my full time job and rental income. My main concern is that my P60 says I'm earning 49277 and the Revenue have a Gross Employment figure of 53439.

Any help gratefully recieved.

Here is the breakdown of the figures.

According to P60:
Gross Pay 49277.00
Total Net Tax Deducted 8577.88
Employee PRSI 3371.41
Tax Credit 3938.00
Standard Rate Cut Off Point 36610.00

Rental Income
Excess of Income over Expenditure 2343.00
41% of excess paid to revenue 960.90


From Revenue Notice
Gross Employment/Pension for Incom Levy-Self 53439.00

Profit from letting premises-Self 2439.00
Emouluments-self 53439.00
Total 55878.00

Capital Allowances/Losses
Rental Capital Allowances-Self 666.00
Expenses in Employment-self 210.00
TOTAL 876.00

Credits/Reliefs Set Agains Tax On Income
Personal Credit 1830.00
PAYE Credit 1830.00
Medical Insurance Relief 180.00
Service charge 78.00

PRSI/Levies Self
Health Levy-self (1773 @ 3.33%) 59.04
Incom Levy-self (55878 @ 1.67%) 933.16
TOTAL 00992.20

Paid PAYE 08577.88
Income Levy deducted under PAYE 896.00
TOTAL 9473.88


They then calculate

55878-876 = 55002.00

Income Tax is 36400 @ 20% = 7280.00
18602 @ 41% = 3918.00
TOTAL 10988.82
plus 992.20 = 11981.02
less 9473.88 = 2507.14
less amt paid 960.90

Balance Payable 1546.24
 
I'm too tired to check your figures now.
But had similar thing happen to my dh and when I went thru it myself I discovered they had double counted his income from one employer.
(he changed half way thru the year)
I presented his salary slips as proof and didn't pay anything.

The other cause could be your employer making an error.
This happend a few people in my work recently.
These employees had 2 personel numbers and salaries had applied two tax free allowances to one person.
 
Did you pay a pension during the year

Please check three pieces of paper

1. Gross on your P60 Form Itself

2. Gross on Income Levy Certificate

3. Tax credit cert- To make sure all bands/credits on tax return

Are these put on correct place on tax return?

Get/print off Orginal tax return and recheck figures you put on it.

They looks to be a gap for some reason and I nearly look towards gross paye income on p60 against gross on income levy cert(Could be 2 different figures here to be put on tax return) Please make sure correct P60 income was put on correct place in tax return

If all numbers put in correct on return- Ring tax office and ask them to explain as numbers do not tot to total income
 
Thanks for the info. I think I have this figured out now. The last payslip for the year and the income levy cert have the higher gross pay figure. Guess my employer was only deducting tax based on the P60 value.

Looks like I have to pay up
 
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