At the event in Clare on the 9th February last, the speaker (the finance guru) said that there was no need to be afraid of the taxman.
This got me thinking that the Revenue in Ireland are very approachable and user friendly. I have had a few dealings with them since the business was established. The young lady that I dealt with was fantastic. I firstly transferred my tax credit to my spouse. We did this so that she would have a higher pay packet during the year. I will pay more tax on my earnings but in these early days of the business it helps with domestic budgeting. And the second thing I did was sort out my taxes for 2009 and 2010. Two weeks ago I got a nice lodgement direct to my bank a/c from the Revenue by way of tax refund. To get money back on bin fees (lots of nappies this year) and medical bills (x-ray following a serious ankle twist playing soccer) and my additional pension contribution was great early in the year.
Going forward I intend to keep my tax affairs completely in order by keeping accurate records of my accounts, filing my returns for the previous year before the 31st August so that the Revenue will calculate my tax liability, and ensuring that I pay the correct amount by the Pay and File due date, 31st October. I will also start using ROS again. It is a superb system.
