Preliminary Tax Paye worker

[Cork441]

Hi all, I am a PAYE worker with 2019 additional income just above 5k and revenue advised me that I am required to register for self assessment. I did the necessary and completed all Form 11 details in draft not submitted as yet. I am actually due a refund for 2019 due to additional AVCs I made outside the paye system. My question relates to preliminary tax for 2020 which I understand I am obliged to pay. As I have 10mths tax paid in 2020 through PAYE system is preliminary tax only due on any additional income I foresee for 2020 outside the paye? Thanks in advance

 

[Paul O Mahoney]

Hi all, I am a PAYE worker with 2019 additional income just above 5k and revenue advised me that I am required to register for self assessment. I did the necessary and completed all Form 11 details in draft not submitted as yet. I am actually due a refund for 2019 due to additional AVCs I made outside the paye system. My question relates to preliminary tax for 2020 which I understand I am obliged to pay. As I have 10mths tax paid in 2020 through PAYE system is preliminary tax only due on any additional income I foresee for 2020 outside the paye? Thanks in advance

Yes in short. If you're refund from 2019 hasn't come into your bank you can deduct it from 2020 prelim.
I've done this for a long time now and never an issue.

 

[Cork441]

Thanks Paul

 

[Patrick101]

'As I have 10mths tax paid in 2020 through PAYE system is preliminary tax only due on any additional income I foresee for 2020 outside the paye? Thanks in advance'

I'd appreciate it if someone could answer the above part of Cork441's question.

Thanks in advance
Pat

 

[RedOnion]

I'd appreciate it if someone could answer the above part of Cork441's question.

Already answered above:

Yes in short.

If you've a specific question, it's better to ask exactly what you want to know.