Earlier Pay & File Tax Return Deadlines On The Way?

April 18, 2013

The annual self-assessment tax filing deadline is set to be brought forward to a “much earlier” date, according to a report by Brendan Keenan in Monday’s Irish Independent.

At present, self-employed individuals, company directors and others must file their annual Form 11 income tax return by 31 October. A later deadline of mid-November applies to online returns.

Pay & File Tax Deadline

Under new Eurozone financial monitoring rules, the Irish government will apparently be obliged to bring forward the annual Budget from December to October each year. Accordingly, the 2014 Budget has been scheduled for 15 October this year.

Self-assessment taxpayers will have a further month, until 14 November, to declare and pay their Income Tax liabilities for 2012 and Preliminary Tax payments for 2013.  This means the Dept of Finance will be framing the 2014 Budget without knowing the total amount of tax receipts for 2013.

In order to prevent this anomaly becoming an annual problem, it is now being suggested that the tax return deadline be moved forward next year.

If the tax deadline is brought forward by 7 weeks, in tandem with the change of date for Budget Day, this would suggest a new Pay & File deadline date in early-to-mid September. If the current online filing extension is continued, we can expect the final deadline in late September for online returns.

This would represent a major change, both for self-assessment taxpayers and for accounting and book-keeping firms who prepare tax returns for their clients.

It takes quite a leap of faith to expect that accounts staff will be happy to work crazy hours preparing tax returns throughout the month of August, when everyone else enjoys their summer holidays.

On that basis alone, I would have serious doubts over the feasibility of a September tax deadline.

Remember than two years ago, the 2011 Finance Bill included a proposal to bring forward the Pay & File deadline by one month t0 30 September.  This quickly attracted controversy and was later quietly dropped.

Sadly, with the EU now setting the agenda, its quite likely that the tax authorities will have no wriggle-room this time.

Interesting times ahead for us all…

15 November is ROS ‘Pay & File’ Tax Return Deadline

April 7, 2011

Revenue have confirmed that the 31 October 2011 Pay & File deadline for 2010 Income Tax returns is being extended for online returns to Tuesday 15 November 2011 . Curiously, this year’s deadline is a day earlier than last year’s deadline of 16 November 2010.

15 November 2011 for ROS Tax Returns

To avail of the extended deadline for 2011, an individual  (or their accountant) must file their 2010 tax return by 15 November 2011 using the online ROS system.  In addition, they must also use the Revenue online ROS system to pay the following tax balances by 15 November.

  • Preliminary Tax for 2011;  and
  • Any remaining Income Tax balance due for 2010

Unless both:

  • the return is filed on ROS; and
  • the required tax payment is made using ROS;

the existing deadline of 31 October 2011 will applies to both the payment and the return.

In accordance with existing practice, I expect that the extended 15 November deadline should also apply for the purposes of RAC, AVC and PRSA pension payments, where a taxpayer pays & files via ROS by 15 November.  This would enable such pension payments, made by 15 November 2011, to attract backdated tax relief against 2010 tax liabilities.  However, these arrangements will become not a reality until and unless confirmed by Revenue  in the meantime – certainly don’t take this for granted without double-checking between now and October.

Thankfully, the Revenue eBrief announcement makes no mention of the recent abortive plan by the outgoing FF/Green government to bring the annual Pay & File tax return deadlines a month forward. Some of us are still having nightmares over that particular bright idea.

Revenue confirm 2010 ROS Tax Return Deadline

April 1, 2010

The Revenue Commissioners announced yesterday that the 31 October filing deadline for 2009 self-assessment tax returns is being extended again this year until Tuesday 16 November, for online returns.

To qualify for this extension, the taxpayer (or their accountant) must file the return using the online ROS system.  In addition, the following tax balances must also be paid online by 16 November, using the ROS system:

  • Preliminary Tax for 2010; and
  • Income Tax balance due for 2009,

The extended deadline does not apply unless:

  • the return is filed on ROS; and
  • the appropriate tax payment is made using ROS.

Otherwise the existing deadline of 31 October applies to both the payment due and the filing of the return.

I also understand that the extended 16 November deadline also applies for the purposes of RAC, AVC and PRSA pension payments, where a taxpayer pays & files via ROS by 16 November next.  Such pension payments, if made by 16 November 2010, can attract backdated tax relief against 2009 tax liabilities.

Again if the taxpayer doesn’t qualify for the 16 November extension, any such pension payments will only attract the tax relief if paid by 31 October next.

For more, see the Revenue announcement.