Important Irish Tax Deadlines
Important Irish Tax Deadlines
| PAYE/PRSI Deadlines | |
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| Monthly PAYE/PRSI Returns (P30) | by the 14th of the following month.
Budget 2006 announced a change for small businesses. Where total annual PAYE/PRSI payments for a business do not exceed €30,000, then PAYE/PRSI can be paid to the Revenue quarterly. This will commence on the 1st April, 2006, with the first quarterly payment under the new regime falling due by 14 July 2006. |
| P35 and any monies owing for the year | due by Feb 15th 2006 for the tax year 2005 - ETC |
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| Income Tax: Self Assessment [self-employed and proprietary directors] | ||
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| Tax Year: | 2000/2001 | 2001 onwards |
| Preliminary Tax | By 1st November during the relevant tax year e.g. the preliminary tax for 2000/2001 is due on 1 November 2000. | to be paid by 31st October during the tax year in question e.g. Preliminary Tax for 2002 is due by 31st October 2002. |
| Tax Return | to be filed by 31st January after the tax year in question e.g. the tax return for 2000/2001 is due by 31st January 2002. | to be filed by 31st October after the tax year in question e.g. the tax return for 2002 is due by 31st October 2003. |
| Balance of tax payable | By 30th April following the return filing date e.g. e.g. the balance of tax payable for 2000/2001 is due by 30th April 2002. | to be paid by 31st October after the tax year in question e.g. the balance of tax due for 2002 is due by 31st October 2003. - **See Note One** |
| Note One A margin of error of up to €635/£500 in relation to computational errors will be permitted. Provided the taxpayer makes a correct tax return, and pays any shortfall by 31 December in that year, no interest or penalties will apply. |
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| VAT Deadlines | |
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| Bi-Monthly VAT Returns | Currently, VAT must be paid by the 19th of the month following each taxable bi-monthly period. Following on from Budget 2007, the Minister signalled his intention to ease the compliance burden on small business. From July 2007, where there is a total annual VAT liability of €3,000 or less, the business will have the option of paying half yearly. For businesses with a yearly liability between €3,001 and €14,400, the option of filing returns every four months will be available. |
| Return of Trading Details (Form VAT3 G(A)) | due by 19th of the month following your VAT accounting year end |
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| Corporation Tax | |||||||||||||
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| A.C.T. abolished from 6 April 1999. Replaced by withholding tax on dividends. |
ACT payable within six months of the end of the company's accounting period Withholding tax due within 14 days after the month in which the dividend payment is made. |
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| Preliminary Corporation Tax Major changes were announced to the times that companies must pay over corporation tax in The December 2001 budget. Basically, preliminary tax will now be due one month before the end of a companies' accounting period (rather than six months after the end of the accounting period). However, transitional arrangements apply to the amount of preliminary tax that has to be paid one month before the end of the accounting period, and they are as follows:
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(Note One) - For the first year of the transition, any preliminary tax payment will not have to be paid earlier than 28 June 2002.
Once the payment of preliminary tax is made according to the above table, a second preliminary tax payment (to bring the total to 90% of the total liability) must be made within six months after the end of the accounting period. The balance of tax owing after the preliminary tax is paid is due nine months after the end of the companies accounting period (i.e. the same time as before). Following the completion of the transition period for preliminary tax, a company will have only two contact points with Revenue in relation to payment of tax and submission of its tax return, namely, the preliminary tax payment date (one month before the end of the accounting period) and the pay and file date (nine months after the end of the accounting period). Other Points In the case of a small company, the preliminary tax obligation for an accounting period will be fulfilled by paying an amount which is not less than the lower of - - 90% of the liability of the accounting period, or - 100% of the liability of the corresponding previous period (this is after the transition period. So for 2003, prelim. tax = 30% of last years liability i.e. use the above %'s but apply them to last years liability). Small companies, then, have light accounting compliance tasks, as they can simply meet their preliminary CT liaility by paying the same amount of CT that arose in the previous period. In order to further lessen the compliance workload on small business, Budget 2007 has seen the CT limit for classification as a small company rise from €30,000 to €150,000 for preliminary tax dates arising after 6 December 2006. New companies with a CT debt less then or equal to €150,000 will not have to pay preliminary CT for their first accounting period; they discharge the CT debt when they submit their first final CT return. Time of the Month The "time of the month" is changing! The Finance Bill 2003 has brought in a new time of the month for corporation tax payments. It's now the 21st day of the month instead of the 28th. This applies to preliminary tax, balance of tax and the return filing. |
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| CGT Payment Dates | |
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These have been brought forward in the budget for 2003. Where a disposal is made after 1 January 2003:
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