Recommend me a book or article for ROS submission?

D

dubguy

Registered User
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Hi,

I am doing my own tax return via ROS for the first time this year. Previously it was done for me by an accountant but my non-paye earnings had become so little that the accountant was costing me more than the tax bill :p

I think the only complicated thing the accountants did was a depreciation on a computer I bought, I should be able to extend that calculation forward for another year.

Could anyone recommend me a book or article that would go through the basics of submitting non-paye income through ROS? Is my situation complicated by the fact that I have had a couple of part time PAYE jobs during 2010 and 2011?

One specific point - I note that the accountants draw up detailed calculations of how they arrive at a tax figure - would they have been submitting these to Revenue would you say? Or are were they simply inputting the final figures into ROS? My main concern is whether I need to be posting something off to Revenue or can I do it all via ROS?

Any pointers in the right direction would be really appreciated :)

Cheers,
Colm
 
No need to post anything to Revenue , but keep calculations on file in case of audit

All the information you need is in the Tax Consolidations Act :)

there really is no one stop shop for doing a return as everyones situation is different --- but having said that revenue .ie has some useful leaflets on diiferent taxes and reliefs that might be useful to you

Also -- depreciation is not allowable for Tax - but Capital allowances are
 
Brendan. I am not likely to do your post as in my opinion people with self employed income should not do their own tax return. Taxes are complicated. There are roughly 3,000 sections in the taxes consolidation act. I have reviewed many returns completed by non tax trained submitters. On no occasion have I seen a return that was wholly correct and I would say at least 75% were seriously wrong. Some had overcalculated their taxes and some had undercalculated - either is a serious problem. There is a tax advisor out there that will meet your needs. Simple rental income and PAYE returns can be completed for as little as €200-€300. Common errors encountered - PRTB not paid and interest claimed, interest not restricted, capital items included as revenue expenses, capital allowances (CA) claimed on enhancement expenditure, CA incorrectly calculated, paye allowance not being claimed, employer paid health insurance tax credit not claimed, employee expenses not claimed, NPPR not paid, health expenses not claimed, service charges not claimed. Not enough expenses being claimed. No claim for household utilities where business operate from home. CA claimed incorrectly on motor vehicles (very complicated).
Have sense. Submitting your own tax return is silly.
 
I have a very simple tax return to do, I have spoken to two accountants and got substantially different answers to a couple of queries. I rang Revenue for the answer, got it for those two instances. Had another query couple of days ago and rang Revenue again who could not give me a definite answer to the question, I would have thought it was a straightforward enough query, nothing weird or wonderful. There are conflicting answers on their website and on Citizens Information site, the Revenue employee I spoke to was inclined to agree with the CI website and not their own. So I really don't know how to ensure return is done right. Had I paid either of those two accountants to do my return there would have been errors, there is not much tax involved so not terribly serious but nevertheless errors.
 
@wbbs:
The world isn't black and white. Lots of areas of taxation, even relating to things that may well be "nothing weird or wonderful", may require an element of interpretation. This doesn't necessarily mean one person is right and another necessarily wrong, unless / until a determination / ruling is explicitly made one way or the other.
 
Extortionate costs is a good reason to avoid using any professional service.
I'm not talking about a living wage, I'm talking about people who work for 15 years post qualifying and then earn enough to retire on by forty.

Nice work if you can get it.
Accountancy costs have to come down in line with all professional practice costs.

There is a sweet price point for any service in any economy which once its reached ensures that more people will avail of an adequately funded professional service.
Adequate funding is necessary to ensure that the firm providing the service can fund its staff costs, research and CPD updates and take on the amount of work they can do competently.

Professionals charging extortionate fees to do their work do nobody any favours.
I include my own profession in that where the perception of the value for money in the profession is so poor in certain places that people are using draftsmen or technicians for design work.

Therefore I agree with the posters that say you should use a professional, but equally with those who have expressed concerns over cost - a balance must be struck.
 
Read the web-page :)

"For Design Work, we will agree a fixed fee/allocation of time before we start designing.

For Statutory Approval and Compliance work, we offer a fixed fee package."

Even in the Tiger, ball-parking it might have started with a percentage, but that very swiftly got whittled down.
 
I did read the webpage


[broken link removed]

"Fees are the reward for providing professional services. They allow us stay in business and develop our practice into the future. Fees reflect our level and type of involvement in a project. Fees may be charged (i) as a percentage of the nett cost of a project, i.e. a commercial development (ii) on an hourly basis, i.e. during investigative or remedial work (iii) on a set fee basis i.e. making a planning application for a private house. "
Click to expand...

Your comments about other professionals' fees have merit in some respects but I think that your own espousal of percentage fees rather undermines your argument.
 
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