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I haven't received anything from them regarding the 08 tax year since I declared my earnings for that year. I returned to PAYE at the end of 2009 and at some point after that my Accountant did my tax return for 09 along with adjustments to my 08 return. The Revenue sent me notice of my liability for 2009 but not 2008. I was in touch with her a few times about sorting out my 08 bill, but she said to wait until I heard from the Revenue before sorting it (in other words she was saying don't bother paying unless they come after you).
I'm in two minds; on the one hand I have done everything above board and feel that it is the Revenue's problem if they haven't chased me for it but on the other hand I don't want to be handed a bill in a few years time.
Do Revenue have an indefinite amount of time where they can chase me for this, even though I have declared it and it is their fault that they haven't billed me for it?
So, this brings me onto the other concern - how reliable is your accountant? Now I don't mean to scaremonger, but variations on the following theme have been known to happen, due to a combination of greedy, dishonest accountants and apathetic, naive clients...:
My advice - don't stick your head in the sand pal. Ask your accountant to do the job they've been paid to do, and clarify exactly what the story is, and make sure you see the paperwork that backs up what they're telling you.
- Client gives shoebox of records to accountant
- Accountant does accounts / prepares tax return
- Tells the client, you owe the taxman 10k
- Client writes a cheque, gives to accountant
- Accountant pockets the cheque in part or in full
- Accountant submits a return to Revenue stating much less / no tax owed.
- Client never sees the assessment that issues, as they just put anything with a harp on it into the shoebox for the accountant.
- This goes on for any number of years until something happens to bring it to light.
- Accountant manages to evade conviction, as fraud is so damn hard to prove.
- Client still owes all the money to Revenue, because it's not Revenue's fault the client got sold a pup. And the chances of getting the money back from the accountant? Ha, good one!
The only notice of assessment I have for 08 is not up to date; in fact it states I overpaid my taxes for that year which I know is definitely not the case. It includes an incorrect income amount.
.I have the money sitting there waiting for when they get in touch with me. I might just ring them and ask them to sort it though.
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