Tax Return By Yourself

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fixer

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Hi,
I paid a company 475 Euros last year to compile my tax return on my rental property which I thought was a bit steep, is it straight forward to do this myself this year and save myself this cost?
I don`t have a complicated return as I am a PAYE worker and so is my wife.

Thanks
 
You could go to the Revenue On Line service ros.ie and get started doing your own tax return. If you are confident that you have done it all correctly then submit it if not go back to your agent.

€475 is not unreasonable, mostly the cost to the agent doesnt depend on how complex your tax affairs are, but how organised or disorganised you are. If you provide all the info to the agent at one time clearly labelled, then there is profit in the €475.

But if it is a case of here is some stuff and I will get back to you with more. And my rental expenses are all in this account you can just ignore the grocery bills. Then €1,000 wouldnt pay the agent.

Most clients are the second type and the agent has no way of knowing the first time they do your returns.
 
That actual return may not be complicated as it's a few figures on a form. What we don't know is what your accountant actually did for you to see if the fee is justified. But it's the first year apparently you were with them, that's always going to be a bit more work, presumably now that you're all set up they might do it for less this year. Negotiate. Don't forget you can write it off against the tax so it doesn't actually cost you as much as you think.

And of course you can do it yourself if you feel you can.
 
Thanks guys for the replies, I myself am very organised and had everything laid out on excel for the return along with photocopies of all receipts etc so it was a brief 10 min meeting on the day I paid them and advised the revenue to take the money.

Yes the fee was tax deductable which was great, will look into returning it myself, it would be nice to save this money.

Just another query, I paid for this year also based on last years return at the same time, my accountant advised this was the norm but some people do not do this.

What is the general concensus , do people pay ahead or just for the tax year being returned?
 
fixer said:
What is the general concensus , do people pay ahead or just for the tax year being returned?
Click to expand...

??
Preliminary Tax is compulsory. It isn't optional. Failing to comply leaves a taxpayer open to interest charges and increased risk of tax audit.
 
Ok thanks TmcGibney, just want to be organised for this year if I am going to handle the tax return myself
 
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