HTML Preview Stam 1 - Accounts Information For Sole Traders Turnover Less Than £320,000 (£250,000) page number 2.
Paper Filers (Accounts Information - Income Tax)
An income tax return filed electronically through the Revenue On-Line Service (ROS) incorporates an
accounts menu. Accounts menus will be compulsory for the 2002 income tax year for both paper and
electronic filers.
For the tax ‘year’ 2001, paper filers have the option of filing the appropriate accounts menu instead of
their accounts.
This accounts menu (STAM 1) is for a sole trader with an annual turnover of up to £320,000
(£250,000)
It comprises 25 items and an adjusted profit menu of 7 items.
All figures to be shown on this Menu should be entered in either Euro or IR£. Please 3 the
relevant box on Page 1 to indicate the currency of choice.
There are general descriptions of the Menu items (for guidance only) on pages 4 and 5.
The accounts menus provide for Notes to indicate any reservations in the accountant’s report, any
change of accounting policies and / or any change in the nature of the business activities.
You should include your completed Accounts Menu when submitting your Return of Income form.
Please note that there are three other accounts menus (listed below). If this menu is not suitable for
you, please contact your local tax office to arrange for the appropriate menu to issue.
STAM 2 - General Trader - turnover between £320,000 (£250,000) and £13,000,000 (£10,000,000)
STAM 3 - Professional Services - turnover between £320,000 (£250,000) and £13,000,000 (£10,000,000)
STAM 4 - Farming - turnover between £320,000 (£250,000) and £13,000,000 (£10,000,000)
Where the turnover is in excess of £13,000,000 (£10 million) per annum, a paper copy of the financial
statements with computations and schedules should be filed with the Inspector of Taxes.
Partnership accounts should be filed with Form 1 (Firms) as at present.
Revenue On-Line Service (ROS)
The Self-Employed can now file their income tax return (plus accounts information) electronically via
the Revenue On-Line Service (ROS). This service is available via the Revenue homepage at
www.revenue.ie
The ROS facility, available 24 hours a day, 365 days of the year, also provides an instant, accurate
and timely calculation of your tax liability. You can visit ROS via the Revenue homepage at
www.revenue.ie or you can contact the ROS information desk on 1890 20 11 06. Alternatively, e-mail