Query on tax calculation

[Pinkpanter]

Just a query. Does this tax return seem correct. I thought I would carry a loss forward to 2010.
I have got this completed with a tax advise company and it was submitted to revenue all be it
late.



Rental income. 1650 euro (rent last 3 months of 2009)

Less expenses
Maintenance. 225
Interest. 1121 (75 %)
accountancy fee. 240
Insurance. 605


Profit. (541)
Net rental profit (541)

2009 qualifying assets
Original cost. 3600
2009 wear and tear 450
Twdv 31/12/2009 3150

This was the calculation from the accountancy firm.
I am confused. They calculated that I am due 9 euro refund when put against my income paye.

My calculations have it at a loss. Ie to be carried
forward to next year. I queried it with them but I did not understand their answer. I was eager to
get it sent in as I have been worried about it.

 

[WindUp]

The loss of 541 and the W&T 450 will reduce your 2010 Taxable Rental (Case V) income. Has your Tax computation been done for 2010?
The 9 euro refund is probably just a slight difference in their calculation of your PAYE Taxes Vs Your company Payrolls -- it could be anything really

 

[Gervan]

So you do have a loss to be carried forward.

A rental loss cannot be used to get a refund on Paye paid, so as WindUp says any refund calculated is caused by something else, perhaps waste charges or union fees that weren't coded into your tax credits.