Tuesday 27 September 2016

Case study: 'You'd be crazy not to hire help for filing returns'

Independent.ie Newsdesj

Published 24/10/2015 | 02:30

Clondalkin andlord, Joe Doyle
Clondalkin andlord, Joe Doyle

Self-employed people would have to be "crazy" not to have an accountant to look at their tax returns, according to Dublin-based landlord Joe Doyle.

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Joe owns and rents out a number of properties in the Clondalkin area, and says he always keeps track of all of his finances.

However, he says that he always sends his tax return to his accountant to ensure everything is in order.

"When you deal with an accountant, you get a better deal on your taxes," he told the Irish Independent. He added that his accountant had alerted him to expenses he didn't know he was entitled to.

"I would have a basic understanding, but I know enough to know that I don't know it all," he said.

"It's always good to have a fresh, professional pair of eyes to look at it," he added.

Joe (31) said that he had a "very hands-on" approach to every other aspect of his properties, such as maintenance costs, but that he didn't feel completely comfortable dealing with his taxes alone.

"You would have to be crazy not to hire a professional to look at your finances," he said.

Joe also feels that more guidance could be given to self-employed people in relation to tax, and added that making mistakes with Revenue can sometimes end up being expensive.

He also called for more action to address "heavy taxation" on landlords, adding that he had numerous considerations like property tax, PRSI, income tax and the Universal Social Charge.

Irish Independent

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