What is self-assessment?
Self-Assessment requires the mandatory submitting of a Tax Return. The Tax Return requires you to declare your earnings and tax paid during the tax year. Usually, Revenue & Customs will send you a Tax Return in the post if you need to file one. If you have received a Tax Return in the post and need help please visit our Tax Plus Tax Return website by clicking here.
The self-assessment system in Ireland is used to report income or capital gains, or to claim tax allowances against your tax bill. It is called self-assessment because you are responsible for making sure the details you provide are correct and ensuring that you pay the right amount of tax – even if you don’t actually work out the tax yourself. Your self-assessment tax return must include full details of all taxable income and gains you received in the year. It must be completed and sent to the tax office by October 31st following the end of the tax year. Interest of just under 10% per annum is charged on all late payments of tax. Filing your own self-assessment tax return can be very confusing and complicated. Register online today and let taxback.com sort your Irish tax affairs out for you.
