Don’t Let Your Company Miss the CRO Deadline!

October 27, 2015

Tomorrow, 28 October 2015 is the deadline for Companies Office (CRO) B1 returns for companies with an accounts year-end date of 31 December 2014.

If your company has prepared (or has yet to prepare) 2014 accounts, you must ensure your return is filed by tomorrow – at the latest.

If you haven’t filed, and your company’s annual return date (ARD) is before 30 September 2015, sadly you have already missed the boat.

CRO Filing Deadline

The smart course of action is to file the return online using the CRO’s CORE web filing facility. This buys you a further 28 days (ie up to 25 November next) to submit the Annual Return signature page and accounts to the CRO.

You can use this four-week period to prepare your company accounts and bring its CRO affairs up to date.

Once prepared, you can submit your accounts in paper form, or upload a PDF copy via the CORE system.

If you need to file a return by tomorrow, and don’t have access to CORE, you should immediately get in touch with an accountant with CORE access, and authorise them to file on your behalf.

If you miss the deadline, your company will be faced with late filing fees (€100, plus €3 per day) and the (costly) loss of audit exemption for 2 years, unless you successfully apply to the District Court for an extension of time – which involves its own costs.


12 November 2015 is ROS Pay & File Tax Deadline

April 28, 2015

Revenue have today announced an extension to this year’s Pay & File deadline for online tax returns from 31 October to Thursday, 12th November 2015.

To qualify for the extended deadline, you must, by 12 November next

  1. file your 2014 Form 11 Income Tax return using the online ROS system.
  2. make your ‘Pay & File’ payment via ROS, to cover:
  • your Preliminary Tax for 2015;  and
  • any remaining balance of Income Tax owing for 2014.

Pay & File Deadline 12 November 2015 The extension only applies, if:

  • you file your Form 11 tax return on ROS; and
  • you use ROS to make the required Income Tax payment.

It is worth noting that the ROS filing deadline this year is one day earlier than last year’s 13 November deadline, and a full 5 days ahead of the 17 November deadline that applied ten years ago, in 2005.  This is unfortunate as the tax code becomes ever more complicated and cumbersome each year.

Capital Gains Tax

The Revenue eBrief doesn’t mention any extension to the Capital Gains Tax return filing deadline of 31 October 2015.  If you are are self-assessed for Income Tax, you must file your 2014 Capital Gains tax return as part of your 2014 Form 11 Income Tax Return.

As was the case in previous years, I expect that the deadline for such ROS-filed returns should now extend to 12 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 2014, you must file a Form CG1 Capital Gains Tax return by 31 October 2015. The later deadline does not apply to you.

Pension Payments

In earlier years, the later ROS filing deadline has also applied for backdated tax relief on RAC, AVC and PRSA pension payments.

Today’s Revenue eBrief does not mention this particular issue although I expect that the 12 November deadline will also extend to such payments, for anyone who pays & files via ROS by 12 November.

If you are considering making a pension payment next November and wish to claim the tax relief against your 2014 liability, you should first double-check that the extended deadline applies to pension payments.

Unless you are 100% certain, it is safer to work on the assumption that the previous 31 October deadline applies, and to make any your qualifying pension payment by 31 October.

Today’s Revenue eBrief containing this announcement is here.


Still Time to Avoid Local Property Tax Penalties

June 10, 2013

If you missed the recent Local Property Tax (LPT) deadline, there is still time to avoid interest and penalties on late registration and payment.

Revenue have confirmed that you can still file your Return (via paper form  or online) before 1 July without incurring any interest or penalties (see here if the link fails, or is unclear).

However, it is important to do act quickly. If you delay, Revenue may in the meantime seek to have the tax deducted directly from your wages or occupational pension.

Local Property Tax

The Revenue LPT helpline remains open at  1890- 200255.  If, like me,  you don’t like overpaying for 1890 phone calls, you can call 01-7023049 instead.


Chartered Accountants Rule Out Pay & File Changes

April 19, 2013

Chartered Accountants Ireland have today slammed as “simply impossible”, a proposal to bring forward the annual Income Tax pay & file deadline for self-assessed taxpayers.

This follows a report earlier this week that the annual 31 October deadline, for Form 11 tax returns, was to be changed from 31 October to a “much earlier” date.

Help - Self Assessment Tax Return

In a note to its members this afternoon, the accountants’ Institute states that it has received confirmation from the Department of Finance that the self-assessment Income Tax payment date of 31 October “will not be brought forward in 2015”.

The timing of the annual Pay & File tax deadline is now a live issue, as the terms of the EU Stability and Growth Pact now require Ireland to complete its annual exchequer Budget much earlier than the traditional first week of December.  For this reason, Budget 2014 is scheduled for 15 October next.

The level of self-assessment tax receipts is always a key factor in each year’s Budget and the Dept of Finance will now face additional difficulties in preparing annual Budgets before they can confirm the amount of self-assessment taxes receivable in late October/early November.

Chartered_Accountants_Ireland_low_res

However, Chartered Accountants Ireland have now reiterated to the Department of Finance, their belief that “it would be simply impossible for indigenous Irish business to comply with earlier Self Assessed Income Tax payment and filing arrangements“.

They have also highlighted “the disruption and administrative burden which would follow if the filing date was to be brought forward“.

The shelving of the earlier tax deadline would be a welcome relief for tens of thousands of business taxpayers and other individuals who are obliged to file self-assessment returns in respect of rental and other income.

It would also avert a threatened nightmare for workers in accounting and book-keeping  firms who already face considerable pressure and stress in managing the annual tax return deadline season.


Revenue confirm ROS Pay & File Tax Return Deadline is 14 November 2013

April 4, 2013

A Revenue eBrief today confirms that this year’s Pay & File deadline for 2012 tax returns is being extended for online returns from 31 October to Thursday 14 November 2013.

However, this is subject to some terms and conditions.

14 November 2013 Pay & File Tax Deadline

To avail of the extended deadline, you must, by 14 November next

  1. file your 2012 Form 11 Income Tax return using the online ROS system.
  2. make your ‘Pay & File’ payment via ROS, to cover:
  • your Preliminary Tax for 2013;  and
  • any remaining balance of Income Tax you owe for 2012.

The extended deadline only applies, if:

  • you file your Form 11 tax return on ROS; and
  • you use ROS to make the required Income Tax payment.

Capital Gains Tax

The Revenue eBrief makes no mention of any extension to the Capital Gains Tax return filing deadline of 31 October 2013.  If you pay Income  Tax under self-assessment, you must file your Capital Gains tax details as part of your 2012 Form 11 Income Tax Return.

The deadline for such ROS-filed returns may now extend to 14 November.

On the other hand, if you pay all your taxes under the PAYE system, and had a 2012 Capital Gain, you must file a Form CG1 Capital Gains Tax return by the earlier deadline of 31 October.

Capital Acquisitions Tax

The deadline extension also applies to Capital Acquisitions Tax (CAT) payments and IT38 returns for gifts or inheritances with valuation dates in the year ended 31 August 2013. Again,  return & tax payment must both be made through ROS.

Pension Payments

In previous years, the extended November deadline has also applied for the purposes of RAC, AVC and PRSA pension payments.

Today’s Revenue eBrief does not mention this particular issue although I expect that the 14 November deadline will again extend to such payments, where the individual pays & files via ROS by 14 November.

If you are considering making a pension payment in November and wish to claim the tax relief against your 2012 liability, you should first double-check that the extended deadline applies to pension payments.

Unless you are 100% sure,  it is safer to work on the assumption that the previous 31 October deadline applies, and to make any your qualifying pension payment by the end of  October.


15 February is Employer 2012 P35 Return Deadline

February 1, 2013

If you employ staff, the deadline for filing your 2012 p35 Return with Revenue is 15 February, two weeks from today.

This is also the due date for paying any remaining PAYE/PRSI liability for 2012, and for issuing your employee P60s for 2012.

If you file and pay via ROS, you can avail of an extended deadline of 23 February for your P35, but please bear in mind that this extension does not extend to your employees’ P60s.

ros_online

If you need assistance with a straightforward P35 query, you can phone the Revenue P35 helpline on 1890254565, (or 016763400 if, like me, you like cheaper phone calls).  Lines are open until 8pm next week, Monday to Friday, 4 to 8 February.

If your query is more complex or sensitive, you should instead just ask your accountant.


15 Nov 2012 is ROS ‘Pay & File’ Tax Return Deadline

April 4, 2012

Revenue have confirmed this morning that the existing 31 October 2011 Pay & File deadline for 2011 Income Tax returns is being extended to Thursday 15 November 2012 for returns filed online via the ROS system.

To avail of the extended deadline, an individual must, by 15 November

  1. file their 2011 Form 11 Income Tax return by 15 November 2011 using the online ROS system.
  2. also use the Revenue ROS system to make their ‘Pay & File’ self-assessment tax liability, ie
  • Preliminary Tax for 2012;  and
  • Balance of Income Tax payable for 2011

The existing deadline of 31 October 2012 applies, unless:

  • the Form 11 tax return is filed on ROS; and
  • the required Income Tax payment is made using ROS.

Capital Gains Tax

The Revenue announcement makes no mention of any extension to the Capital Gains Tax return filing deadline of 31 October next. Individuals subject to self-assessment Income Tax are required to file their Capital Gains tax details as part of their 2011 Form 11 Income Tax Return. However, separate payment deadlines apply for Capital Gains Tax liabilities.

Capital Acquisitions Tax

The deadline extension also applies to Capital Acquisitions Tax (CAT) payments and IT38 returns for gifts or inheritances with valuation dates in the year ended 31 August 2012. Again it is conditional on the CAT IT38 return filing and tax liability payment both being made through ROS.

Online filing is now compulsory for almost all IT38 returns so the extended deadline will be especially useful here, as it will provide for more time for beneficiaries to sell assets or liquidate investments in order to meet the CAT payment deadline.

Pension Payments

In previous years, the extended 15 November deadline has also applied for the purposes of RAC, AVC and PRSA pension payments.   Today’s Revenue eBrief does not mention this particular issue although I expect that the 15 November deadline will also apply this year where the individual pays & files via ROS by 15 November.

This would enable qualifying pension payments, made by 15 November 2012, to attract backdated tax relief against 2011 tax liabilities. However Revenue have not yet confirmed that this concession will continue this year.

If you are considering making a pension payment in November and claiming the tax relief against your 2011 liability, please make sure to check for further Revenue updates between now and October. In the meantime, in case of doubt, it is safer to work on the assumption that the previous 31 October deadline applies, and make any such pension payment by the end of  October.