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Bookkeepers Ireland News

News and Information for Bookkeepers on Bookkeeping and related topics such as tax, computers and payroll
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Published on Mon 20 of Sep, 2010
The final filing date for submission of the paper version of the 2009 Income Tax return (Form 11/11E) is the 31st October 2010. As this date falls on a Sunday, Revenue has put the following arrangements in place:

* Over the course of the weekend, returns and payments may be dropped in to the post boxes in Sarsfield House, Francis Street, Limerick. There will not be any facility to acknowledge receipt of deliveries. Customised receipts will issue in all cases when payments have been processed. All such returns received by 9:00 am on Monday 1 November will be deemed as meeting the filing deadline.
* As in previous years, returns with a postmarked date of 31st October will also be deemed as meeting the filing deadline.

Customers using Revenue On-line Service to both file and pay have until midnight 16th November 2010.

There is still time to register for ROS to take advantage of the extension mentioned above. ROS is the easiest and quickest way to meet all your tax obligations.
Published on Thu 16 of Sep, 2010
We have had some technical difficulties with the blog for the last week. But we are now up and running again.
Published on Thu 16 of Sep, 2010
Make sure you have updated your windows computer with the latest Micorsoft Office and Microsoft Windows XP, Vista and 7 updates.

For the more information go here
Published on Mon 06 of Sep, 2010
High Income Individuals' Restriction

Revenue has published a pdf Guidance Document (PDF, 247KB) which contains comprehensive information on the application of the High Income Individuals' Restriction for the tax year 2010 and subsequent years. The document includes some useful reminders for agents and taxpayers when considering both the application and calculation of the restriction. The Guidance Document is available on the Revenue website at: Tax Practitioners – Technical Guidelines - Guidance Document-High Income Individuals Restriction.

In particular, the Guidance Document emphasises the effect of the changes which were introduced under the 2010 Finance Act. For individuals who are fully subject to the restriction, these changes provide that, with effect from the tax year 2010, such individuals are liable to pay an annual effective rate of income tax of approximately 30 per cent, as opposed to an effective rate of income tax of approximately 20 per cent which applied for the tax years 2007, 2008 and 2009.

Read the full details on the Revenue Website

Download the PDF Document
Published on Thu 02 of Sep, 2010
You may receive an windows update notice on your computer today about an update that needs to be installed. If it is for Microsoft's Silverlight, then go ahead and install it.

Silverlight is similar to Adobe's Flash Player (it plays the videos and animations on websites for you)

Microsoft's summary of this update is as follows

''An update is available for Microsoft Silverlight. This update offers a new build that is an upgrade to earlier versions of Silverlight. This update is included in current Silverlight installers. If your computer does not have Silverlight installed, the installer will be offered to you by Microsoft Update or by Windows Server Update Services (WSUS).

This update includes functional, performance, reliability, and security improvements. This update is backward-compatible with applications that were created by using earlier versions of Silverlight.''

For more detailed information you can go to the Microsoft website here
Published on Thu 02 of Sep, 2010
Income Levy
Revenue eBrief 15/10 , which issued on the 30 March 2010, included the composite rate at which the income levy is charged on all relevant income for the full year 2009.

A number of queries have been received regarding the end of year calculation of the income levy on Schedule E income, where the levy had been deducted at source during the year.

The composite rates are to be applied to all relevant income for the year, including Schedule E income, which may have already suffered the income levy at the the different rates in force for the periods 1 January 2009 to 30 April 2009 and 1 May 2009 to 31 December 2009.

An additional liability to the income levy may arise for individuals with Schedule E income for the period 1 January 2009 to 30 April 2009 only. Depending on the level of their income, they may not have met their full obligations to the income levy using the composite rates when recalculated using the composite rates.

Likewise a reduction in Schedule E income in 2009 in the second period may result in an underpayment of the income levy overall as a greater portion of the income will have been subject to the lower rates of levy in place for that period.

Examples can be found here on the Revenue website
Published on Thu 02 of Sep, 2010
Revenue On-line Service Form 11 Amendments

ROS now provides the facility to amend a Form 11 that has been submitted to Revenue. The main features of this new facility are:

* It is available for Form 11 only; it is not available for Form 1 or Form 1(Firms).
* It is available through the ROS on-line facility only; there is no off-line amend facility.
* The option to amend through ROS is only available for the years 2009 et seq.
* Only the person who filed the original return (either the customer or their agent) will be able to amend the return details.
* If the return details have been amended more than twice, it will not be possible to amend the case through ROS.
* It will not be possible to amend all of the fields on the Form 11. Those fields that cannot be amended on-line will be ‘greyed out’.
* It will not be possible to amend all returns; for example, years which have been amended more than twice, years that have been subjected to a Revenue audit, etc. Where a year is blocked from on-line amendment, the user will be advised that they should submit their amendments to the appropriate Revenue District.

http://www.revenue.ie/en/practitioner/ebrief/2010/no-592010.html ?
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