Making the most of the tax relief available

As you are no doubt very much aware the Pay and file deadline for Self-employed’s Income tax (for the year 2020) is 31st October 2021.
If you file your tax return and pay tax online (through ROS – Revenue Online System), the deadline is extended till 17th November 2021.
You need to do both steps to get extended deadline (17th November), file (your return) and pay (income tax).

What you need to do:
1. File your Income tax return 2020,
2. Pay Income tax balance due for 2020,
3. Pay Preliminary tax for 2021 (the same amount as it is your income tax for 2020).
In order to qualify for the extension, customers must both pay and file through ROS.
There is no change to the deadline of 31 October 2021 for taxpayers who file on paper rather than online through ROS.

Remember, you can get Income Tax relief against earnings from your employment for your pension contributions (including Additional Voluntary Contributions (AVCs)).

Should you wish to discuss any of the above or need any further information or advice, please do not hesitate to contact us at info@hegarty.ie or alternatively you can call the office directly on 01 4972544.