Tax Return 2013 Checklist

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When signing off on 2013 return of income ensure that you:

1) Are aware of the reliefs, allowances and credits you are entitled to, to name a few

• Medical expenses incurred and not reimbursed by your private health insurance provider
• Qualifying tuition fees
• Pension contributions
• Maintenance payments incurred under a legally enforceable separation / divorce agreement

2) Have claimed all the reliefs and credits you are entitled to

• Be sure to let your tax advisor aware if there has been a change to your circumstances which may result in you becoming eligible for any relief, allowance and credits  so they can be included in your return

3) Have maintained all the supporting documentation

• You are obliged to retain all supporting documentation for a period of six years, unless your Inspector of Taxes advises otherwise

4) Have availed of the opportunity to minimise your liability by making appropriate payments prior to the filing deadline

• For example, payments made into your pension scheme up to an including the 31st of October 2014 can be claimed as a relief against your income tax liability for the tax year ended 31 December 2013

5) Have paid the appropriate level of taxation, including preliminary tax.

• See prior OSK articles regarding the calculation and payment of preliminary tax, and the penalties which can apply to late payment.

Contact Roisin McDaid, OSK Tax if you have any further queries. OSK provide comprehensive accounting tax services to cater for all business requirements.

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• Tax Return 2013

• Return of Income