October Income Tax Returns
Hi I’m Colum Whelan, the Principal of Guardian Management Accounting. In October, every year, sole traders and directors of limited companies are obliged to file an income tax return by the 31st of October if filing a paper return. If you’d like to file electronically under Revenue Online System ROS you get a further extension until the 12th of November.
Items on which you can claim tax relief are: medical and dental expenses at 20% or nursing home expenses you can claim tax relief at 40%. In addition, if you have a rental property, you’re obliged to file an income tax return. In 2018, remember that you can now claim 85% of the mortgage interest on that property.
If you need assistance in filing your income tax return, please contact Avril, Laura or Fergus in the office. Thanks to Pimbrook Software for inviting us to make this video.