31 October 2012 Tax Deadline – 3 Weeks To Go

October 10, 2012

We are now only three weeks away from the 31 October tax deadline. This year, the annual Halloween “Pay & File” date is more important, and covers more taxes, than ever before.

31 October 2012 is the deadline to:

  • File a Form 11 Self-assessment Income Tax return  for 2011
  • Pay any remaining Income Tax liability for 2011
  • Pay Preliminary Tax liability for 2012
  • File a 2011 Capital Gains Tax Return, if you have made a Capital Gain in 2011.
  • File a Capital Acquisitions Tax Return if you received a Gift or Inheritance in the period from 1 September 2011 to 31 August 2012.
  • Pay a Capital Acquisitions Tax liability arising from a Gift or Inheritance in the period from 1 September 2011 to 31 August 2012.
  • Pay Domicile Levy  and file a Domicile Levy Form DL 1 tax return.
  • Make a backdated RAC, AVC and PRSA pension payment to claim tax relief for 2011.

It’s worth noting that the 31 October deadline affects all classes of taxpayers, not just the self-employed or those on high incomes. If you think you need to file a return, or make a tax payment this October, give yourself plenty of time to avoid the late end-of-month rush.

If you don’t fully understand all aspects of your tax position, you should strongly consider getting an experienced accountant or tax specialist to advise your on your liabilities and file your return on your behalf. Don’t leave it too late though, as all accountants and tax experts will have a heavy workload in the coming weeks.

For more detail, see my recent article on the 31 October deadline for Contemporary Living.