Budget 2024 outlined how Government plans to spend the money it raised from tax revenue.
While there has been much discussion about windfall corporation tax receipts, it is income tax that is the biggest source of all tax revenue.The deadline for self-assessed tax payers is Tuesday, October 31, while the deadline for those filing and paying online is Wednesday, November 15.People who are self-employed, contractors or sub-contractors are required to file an income tax return.
PAYE workers with income of less than €5,000 that is not coded into their tax credit certificate are also required to file a return.The type of form that must be filed is determined by the amount of self-assessed income and how much you make as a PAYE employee. These can only be claimed if they have 'wholly' and 'exclusively' occurred for the purposes of the taxpayer's trade. Costs that were incurred exclusively for personal use cannot be included.
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