There are now just six weeks to go until this year’s Pay & File deadline for online tax returns, Wednesday, 14 November 2018.
The deadline for paper returns is Wednesday 31 October.
To qualify for the extended deadline, you must, by 14 November:
- file your 2017 Form 11 or Form 12 Income Tax return using the online ROS system.
- make your ‘Pay & File’ payment online via ROS, covering:
- your Preliminary Tax for 2018; and
- any remaining balance of Income Tax owing for 2017.
Gifts & Inheritances
If you a received gift or inheritance with a valuation date in the year ended 31 August 2018, your deadline for filing a Capital Acquisitions Tax (CAT) return, Form IT38, is also extended to 14 November, again once you pay your liability using ROS.
Capital Gains Tax
The Revenue eBrief announcing the extended deadline makes no mention any extension to the Capital Gains Tax return filing deadline of 31 October 2018.
If you pay Income Tax under self-assessment, you must include your Capital Gains details as part of your 2017 Form 11 Income Tax Return. You don’t have to file a separate 2017 Capital Gains tax return.
As was the case in previous years, I expect that the deadline for such ROS-filed returns should now extend to 17 November. If this affects you, I advise you to double check this in advance of 31 October.
On the other hand, if you pay all your taxes under the PAYE system, and had a Capital Gain in 2017, you must file a Form CG1 Capital Gains Tax return by 31 October 2018. The later deadline does not apply to you.
In previous years, the later ROS online filing deadline has also applied for backdated tax relief on RAC, AVC and PRSA pension payments.
I expect that the 14 November deadline will also extend to such payments, for anyone who pays & files via ROS by that date.
If you are considering making a pension payment in November and wish to claim the tax relief against your 2017 liability, you should first double-check that the extended deadline applies to pension payments.
If you can manage it, may be safer to work on the assumption that the previous 31 October deadline applies, and to make any your qualifying pension payment by 31 October.
For more, see this Revenue eBrief.