Brendan Burgess
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Here is a new service which might be of interest to property investors:
[broken link removed]
Brendan
[broken link removed]
Brendan
New online property tax service webtax.ie
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ubiquitous
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It appears to be a very limited service. It doesn't handle Form 11s for example.
Yes, is connected.
We don't offer Form11s as they can be submitted directly through ROS (no point duplicating a effective working model). Our service is geared towards completing rental accounts online, and allowing PAYE workers to feed them directly into a Form12 or providing the figures needed for a From11.
I may be completely wrong but does the Tax Office not offer the same service free or charge? If I brought all of the 'stuff' (invoices for expenses paid in respect of a house that I own and let, details of mortgage interest etc) to the Tax Office wouldn't they help me complete a Return correctly?
They would help you with completing a tax return, but not with doing your rental accounts.
ubiquitous
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Doesn't the Revenue IT70 leaflet include an example of a rental account? I don't know how you can say on the one hand that the webtax helps with doing rental accounts while explicitly saying on the other hand that the service does not include advice?
What that means is we don't offer provide a tax advisory service (i.e. being appointed tax advisors for individuals and providing them tax planning, consultations etc).
Advice on any issues the have with preparing their rental accounts and the tax on them is obviously provided and we have a system of taking queries from customers through our website.
And yes, IT70 includes an example of a rental account, but a leaflet can only provide so much information - as the many questions on AAM testify. Our website records all income & expense, wear & tear, calculates the rental profit/loss and the tax due on it.