- Sunday 29 September 2019
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Deadline to Reduce Your 2018 Income Tax Bill Is Almost Here
As we approach October 31st, it is a very important time to take stock and see if you are in a position to reduce your income tax bill for 2018.
Pensions remain the most effective and simplest method to offset any liability in the previous year and as such we recommend that our clients maximise their contributions in order to do so.
Both the self-employed and those earning under the PAYE bracket can avail of this method and are advised to investigate what options you have.
Please note the following:
The deadline for individuals who both pay and file their revenue On-line Service (ROS) have until Tuesday, 12th November 2019 to pay a pension contribution and elect to backdate the income tax relief against the 2018 tax year.
Those who do not qualify for the ROS extension must do this by 31st October 2019.
There is no option to defer. If you do not take this opportunity, you will not get another chance to reduce your 2018 income tax liability.
WE ARE HERE TO HELP;
Let us know if you require:
Assistance in making a pension contribution before the deadline
Information on your contributions to provide to your accountant.
A referral to an excellent Tax Advisor / Accountant who will do it for you. We have agreed preferential rates for our clients so let us know
We look forward to hearing from you