2020 Personal Income Tax Return
Are you self-employed, a landlord , a company director or in receipt of other income during 2020 ? If so, your 2020 Personal Income Tax Return must be submitted to the Inspector of Taxes by 31st October 2021. If you pay and file Online using ROS the filing date is extended to 12th November 2021. The Return is a statement of all your income and capital gains for year ended 31st December 2020. The following payments must also be made by 31st October 2021 or ROS filers by 12th November 2021.
- Payment of any balance of Income Tax due for the 2020 tax year.
- Payment of Preliminary Income Tax for the 2021 tax year.
By completing a Tax Return you may be in line for a Tax Refund if you have not claimed all your entitlements. Have you claimed all your medical and dental expenses? Have you claimed all your mortgage interest relief on your home and on your investment properties? Have you claimed credit for Tuition Fees paid to Third Level Colleges? There are many other credits and allowances that you may be entitled to and we can carry out a full review of these.
2020 Personal Tax Return Checklist
In order to assist us to complete what is a very comprehensive and detailed Tax Return on your behalf, and also to calculate the various taxes due as mentioned above, please complete the 2020 Personal Tax Return Checklist and return it to us together with the relevant information. Please wait until you have all the information and documentation together before you return it to us as this will help in processing your Tax Return more efficiently. As the Income Tax Return and payments must be filed and paid Online by 12th November 2021, we would appreciate if you would forward all documentation to us at your earliest convenience or by the 30th September 2021 at the very latest.
Capital Gains Tax
Payment of any Capital Gains Tax due for capital gains made in the period 1st January 2020 to 30th November 2020 is payable by 15th December 2020. Payment of any Capital Gains Tax due for capital gains made in December 2020 is payable by 31st January 2021.
If you require our assistance in relation to any of these matters please contact us here