St Tax Levy
Every year the Government puts in place various tax schemes and provisions that are designed to make life easier for the common man. Among these provisions for the common man is the st Tax Levy. A Tax Levy is a heavy financial burden levied on an individual by the Government with the aim of making sure that the taxpayer pays the tax that the Government has ordered him to pay. Usually, a Tax Levy is implemented when a person fails to file his income tax returns for a stipulated period of time or when he fails to pay his income taxes on time. The reason why a Tax Levy is levied is so that the Government can collect the amount that the taxpayer owes them. The purpose of the Tax Levy is to ensure that people pay their taxes on time. This is done through the tax collector known as the Revenue Officer. When you are put under Tax Levy the first thing that your Revenue Officer does is to inform you about your situation. You are then taken through a thorough enquiry process that consists of questioning you about your income, expenditure and sources of income. After ensuring you are then given a notice inviting you to appear in court at a specific time and explain your side of the story.
St tax levy notice
After being given the st tax levy notice and an opportunity to appear in court the Revenue Officer will issue a formal notice of action naming you as the Taxpayer and informing you that you have one month within which you have to show you cause as to why you have not paid the necessary amount to the Revenue. Generally it is understood that if you do not pay the amount in full within a month you would have to be put under a Tax Levy, however this is not always the case. For instance there are situations where people receive a Tax Levy but do not have to pay it as they are unable to pay the lump sum money they have been ordered to pay.
For example in situations where the amount is beyond the month in which you have to appear in court for the purposes of determining whether or not you owe them money, you would not be liable to a TDA unless you can prove in the court that the amount over which you owe them money is not a proportion of the total amount of income you make over a year. The TDA is a fine levied on those people who fail to pay their CCTD. When you receive a notice of the SFGRA within one month of failing to pay the CCTD the Revenue Officers will contact you and ask you to come to court. However, the vast majority of cases in which the SFGRA ret I don’t result in a full TDA.
It is important to understand that the SFGRA does not give you a blanket exemption from paying your CCTD, in fact, the rate of the SFGRA ret r depends on a number of factors including the amount of income you earn, whether you are bankrupt, and whether or not you have any outstanding unpaid council tax or gas charges. If you have received a SFGRA notice and you do not intend to pay the entire lump sum, then you might want to consider requesting for a single reduction. There are two ways in which a single reduction can be granted: one is a lump sum reduction; and the other is a pro rata distribution.
If you have a large liability and you wish to obtain a larger than one hundred and twenty-five percent reduction (the maximum possible) then you should approach an insolvency practitioner. If you wish to apply for the best possible result then it is advisable to consult an IAAI certified insolvency practitioner. An IAAI certified insolvency practitioner will be able to assist you with your application for the most appropriate and favorable result. An IAAI certified insolvency practitioner will also be able to advise you on how to obtain the most favorable results from the CCTD. One of the worst consequences of failing to pay a SFGRA could result in a high court judgment; therefore, it is essential to obtain legal advice when applying for the most suitable result.