Preliminary tax for 2025

S

Stitcher

Registered User
Messages
377
Hi,
I have already completed and returned my form 11 for 2024. (Not a big fan of this form but manage).
However, I reckon I owe more tax for 2025 than I will have paid via work pension and amended tax credits. This is due to transitioning from employment to retirement in 2025, and with two uk pensions kicking in. I reckon i will have paid about 75% of the tax due by end of 2025.

i see you are supposed to pay 90% preliminary tax when completing form 11 or penalties will apply. I didn't quite know how to deal with that at the time so just paid tax due for 2024.

I see a tab for 'one off payments' on ROS.

So, can I make a one off payment to cover outstanding tax due to bring me up to 90% without having to amend my submitted Form 11?

Thanks in advance for help with this.
 
I got sorted with this.
When I progressed through the 'one off payment' tab on ROS and chose income tax, there was a choice for preliminary tax so I clicked on that then paid.
 
Your preliminary tax is based on either your tax due in 2024 or your estimate for 2025

You can use whichever of these amounts you prefer

If you choose your estimate for 2025, it must be at least 90% of the eventual tax due
 
So if I have already paid my tax for 2024 via paye, and form 11, I dont have to pay preliminary tax to cover tax due in 2025?
 
Your preliminary tax for 2025 only needs to cover the tax due that will not be collected by PAYE - for example, tax due on interest, Social Welfare pensions, foreign pensions,...
 
If you make an AVC and the tax relief is greater than the tax due on the non paye income that you declare in the Form 11 resulting in a tax refund - does that mean you have no preliminary tax requirement or should you ignore the AVC in the detemination?

Thanks in advance!
 
You must log in or register to reply here.
Back
Top