The Gazette 1992

GAZETTE

DECEMBER 1992

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Literature from Council Election Candidates

year I receive at least a c o u p le of these letters a f t er I have voted. If p e op le w h o think they deserve a Co u n c il seat show this level of efficiency, wh at mu st the s t a n d a rd be like over the profession as a whole?

acquire, keep a n d finally improve the place we deserve in the civilised family to which we belong. "Civilised i n t e r n a t i o n al f o r ms of dress are a worthy c o s t ume for o ur n a t i o n. We shall wear shoes or b o o ts on o ur feet, then trousers, waistcoats, shirts, ties, jackets, a nd naturally to crown it all, we shall wear b r i mmed headgear. I want to say clearly t h at this b r i mmed h e a d g e ar is called a h a t ".

T h e Editor, Gazette

Dear M a d a m,

Yours etc,

Recently, ma ny of my colleagues wrote to me asking me for s u p p o rt in the Co u n c il election. Their letters were t h o u g h t f u l, stimulating d o c ume n t s. I am sure t ho se w h o were elected will help the profession greatly in p l a n n i ng for the future. However, I trust they will show mo re foresight in their work for the Co u n c il t h an they did in sending me their literature. Wi th o ne exception, I received these s t imu l a t i ng letters a f t er I h ad voted a nd returned my p a p er to the Law Society. Your Clients Can Pay Self-assessment was first i n t r o d u c ed for the i n c ome tax year 1988/89. Originally, it was on the preceding year basis, me a n i ng t h at tax was assessed o n the p r o f i ts of the a c c o u n t i ng year which e n d ed in the previous year of assessment. T h e 1990 F i n a n ce Act abolished the preceding year basis a nd replaced it with the Cu r r e nt Year Basis. Self-assessment i n t r o d u c ed the c o n c e pt of " p r e l i m i n a ry t a x " a nd " f i n a l a s s e s sme n t ". Currently, preliminary tax mu st be paid by 31 Oc t o b er in the year of assessment. So, for the year 1991/92, preliminary tax h ad to be paid by 31 October, 1991 a nd by 31 Oc t ob e r, 1992 for the tax year 1992/93. Th is is the first time t h at all b ar o ne were received late. However, every

Michael O'Ma Iley

Re: Wigs: Abolition of: precedent for

- Mu s t a fa Kemal (A t a t u r k)

. . . . on 25 November, 1925 the Turkish Assembly a d o p t ed a law ma k i ng it illegal for a Turk to wear a fez.

T h e Editor, Gazette,

Sir,

Yours etc,

" We mu st b e c ome civilised men f r om every point of view . . . o ur t h i n k i ng a nd mentality will b e c ome civilised f r om h e ad to f o o t. We shall

Frank O'Mahony

P.S. Just like t h a t.

Less Tax

s h o u ld be n o less t h an the lower of:

assessment would be 31 J a n u a r y, 1993.

• 9 0% of the final tax liability for the current tax year, or • 100% of the final tax liability for the previous tax year. Your i n c ome tax returns for the tax year mu st be filed with the Revenue Comm i s s i o n e rs by 31 J a n u a ry in the following tax year, giving you 15 mo n t hs to finalise your a f f a i rs a f t er the d a te for p a yme nt of preliminary tax. Wh e re a d e q u a te preliminary tax was paid by 31 Oc t o b er wh en due, the o u t s t a n d i ng b a l a n ce of tax for t h at year need n ot be paid until the later of o ne mo n t h f r om the date of assessment or the relevant 31 J a n u a r y. So, for the tax year 1991/92, the n o r mal d a te of final

T h e mo st efficient me t h od of reducing your tax liability is by way of pension c o n t r i b u t i o n s. You can o b t a in full tax relief on c o n t r i b u t i o ns to a p e n s i on of u p to 15% of your net relevant earnings. Co n t r i b u t i o ns to a p e n s i on plan m a d e b e f o re 31 J a n u a r y, 1993 can be used to reduce the liability for the tax year 1991/92 a nd t h us reduce the final assessment payable to the Revenue Comm i s s i o n e rs by 31 J a n u a r y, 1993. For f u r t h er details on this matter, write to Tom Kennedy, at Solicitors Division, Sedgwick Financial Services, 18/19 Ha r c o u rt Street, Dub l in 2 or t e l e p h o ne (01) 781599.

T h e a m o u nt of preliminary tax to be paid to avoid penalty interest charges

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